What Percent Of Your Monthly Net Income Should Be Used To Pay The Rent?

No more than 40% at worst, and some set this figure at 25%
maximum. As many people are paying off a home, the banks generally take about 30 per cent of the salary to judge if a person can pay back the loan and still live.
You should ideally not go above this, as you also need to budget for food, utilities, transport, (for which you may be paying off a car), insurance, clothes and furniture accounts, entertainment and savings towards an emergency fund.
It goes without saying, that if you paying too large an amount in rent in proportion to your salary, you could run into trouble
and be unable to meet your other commitments.
You may loose your job, or have to go into hospital, and have no emergency funds to cover this.

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I THOUGHT IT WAS 1/3 OF YOU INCOME...

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1/3 of your take home pay is the max.

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