Question

The average rent in Michigan for a one bedroom apartment is $1106 per month. When deciding how much rent you can afford there is a general rule of thumb that can help you determine this. What is the general rule, you should spend no more than what percent of your income on rent each month?(1 point) Responses 10% 10% 30% 30% 50% 50% 80% 80%

Answer 1

The general rule of thumb is that you should spend no more than **30%** of your income on rent each month.