The increase in the price of housing in Dallas and Fort Worth of up to 30% has impacted the pockets of residents, according to studies by Rent.com.
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If you are thinking of moving this 2022 to another place, first you should know how much percentage of your hourly earnings you would spend on the payment of rent and services.
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We help you estimate how much you should earn per hour to pay for the apartment you want and in the city you want.
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The formula is simple, it is only a question of multiplying your hourly income by 40 and what results by 4, so you will have your monthly income.
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This figure is multiplied by .30 if you only plan to allocate 30% of your income, which is recommended by the National Low Income Housing Coalition so as not to compromise your income.
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What you get is the monthly payment that you could afford without compromising your income so much.
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Step by step calculate your budget for rent or rent:
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- You earn $30 per hour, multiply this by 40 hours of work in the week and it will give you 1,200.
- That $1,200 times 4, which is four weeks, will work out to $4,800.
- Multiply the $4,800 by .30 and you get $1,400.
- The $1,400 is your budget to pay rent without compromising your income so much.
- Now looking for rent.
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