Yes this is true. Renting payment scheme should work when you're capable to spend 1/4 of your gross monthly pay. This is 25-30% of your gross salary intended for rent. This is how landlords approves you to rent on his/her property, however there are other places which would required a benchmark amount. For example in New York, you will not be able to rent unless your gross annual salary is at least 40-48x of the monthly rent.
