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100_percenter t1_ja9gel0 wrote

The 28/36 rule basically applies to everyone, everywhere. Housing should be no more than 28% of your monthly income, and total debt should be no more than 36%.

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urbanevol t1_ja9ug1y wrote

I think this rule starts to break down a bit in 1) very high cost of living areas, and 2) people with high incomes. Spending 40% of your income on housing is not that big of a deal if you still have $10K+ after paying your housing costs. I'm not trying to be argumentative...Fairfield Co. is going to be a lot different than many other parts of the state.

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