Rent Affordability Calculator
Find a rent that fits your income. Many people use 30 percent of gross income as a guide.
When to use this calculator
Use this calculator when you are looking for an apartment or deciding whether to move. It turns your income into a monthly rent range based on the share of income you choose to spend on housing.
Example rent budgets
How this calculator works
We divide your yearly income by 12 to get monthly income, then multiply by the percentage you choose. The 30 percent rule is a common guideline, not a law. Many landlords also ask for income of about three times the monthly rent.
Step-by-step example
Using these inputs: Yearly income before tax ($): 60000; Share of income for rent: 30% (common rule).
On $60,000 a year, monthly income before tax is $5,000. At 25% rent would be $1,250, at 30% it is $1,500 and at 35% it is $1,750. Choosing 30% means $18,000 of rent a year.
Tips for a better estimate
- The 30% rule is a guide, not a requirement. In expensive cities many renters pay more.
- Remember utilities, renter's insurance, parking and fees when you compare apartments.
- Landlords often ask for income of about three times the rent, so check their requirement.
FAQ
Is the 30 percent rule right for me?
It is a starting point. High costs of living or debts may mean you should aim lower.
Gross or take-home income?
The rule uses gross income, before tax. If you want to be safe, use take-home pay and a lower percentage.
What else should I budget?
Utilities, renter insurance, parking and fees are often extra.
What is the 30% rule?
It says to spend no more than about 30% of gross income on rent.
Should I use gross or take-home income?
The rule uses gross income. If you prefer a safer plan, use take-home pay with a lower percentage.
What if rent is more than 30% of my income?
It may still work if your other costs are low, but check your budget carefully so you can still save.
Rates and limits last updated: October 2026. This is an estimate for general information only, not financial, tax or legal advice.
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