▸Your rent rises to 1,575 a month, 900 more over the year.
- A 5% increase adds 75 to every monthly payment.
- A common guideline is to keep total rent at or below about 30% of your gross income.
- Many states and cities cap how much, or how often, rent can rise, check your local rent-control or rent-stabilization rules.
Next stepCompare the new rent against your budget before signing a renewal, and ask whether a longer lease term locks in a smaller increase.