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Asked by Kanayo on Monday May 13, 2013 at 11:4:47:

Assuming you make like N1m a year, is it wise to spend N500,000 a year on house rent? What is a reasonable amount of money to spend of house rent in Nigeria?

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Answers:
Re: How much of your annual income should you spend on house rent Reply by Isioma on Thursday May 16, 2013 at 8:52:49:

For someone who is planning for his future, it would only be wise to spend about 10% to 30% of his annual income and save towards his own home

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