Renter Frequently Asked Questions

Find quick answers to common questions about renting a home.

The general recommendation is to spend no more than 30% of your before-tax income on rent. For example, if you earn $6,000 per month before taxes, your rent should be no higher than $1,800. However, in some areas, this 30% rule may not be practical, and you can look for ways to reduce spending in other areas to make up for higher rental payments.

If you’re struggling to pay rent or to meet housing costs there may be federal, state, or local rental assistance options available to help you. For instance, the Housing Choice Voucher (HCV) Program — formerly known as Section 8 — can help individuals and families afford sustainable housing across the country.

Learn more about HCV, public housing, and other rental assistance programs.

How do I rent to own a home? If offered by the owner of a rental home, a rent-to-own contract allows you to pay rent while you live there with the option to buy the home within a specified time period. In some cases, a portion of your monthly rent payment may count toward the eventual purchase price.

Learn more about renting versus buying.