Rent Affordability Calculator
Find how much rent you can afford based on your monthly income and the 30% rule.
Maximum Rent (30% Rule)
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per month
Recommended Range
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Unadjusted 30% Max
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Remaining After Rent
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% of Income
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What is Rent Affordability Calculator?
The rent affordability calculator uses the 30% rule — the widely-cited guideline that housing costs should not exceed 30% of gross monthly income — to estimate how much rent you can afford. It also accounts for existing monthly debt obligations and shows a comfortable rent range.
How to use
- 1 Enter your monthly gross income (before taxes).
- 2 Enter your existing monthly debt payments (car, student loans, credit cards, etc.).
- 3 Maximum affordable rent and a recommended range appear instantly.
Formula
Example calculation
Monthly income of $5,000 with $400/month in debts: Max at 30% = $1,500. Adjusted = $1,500 − $400 = $1,100. Comfortable range: $850–$1,100/month.
Frequently asked questions
Is the 30% rule still realistic?
In many high-cost cities, renters spend 35–50% of income on rent. The 30% guideline is a target, not a hard rule. Spending under 30% allows more savings and financial flexibility.
Should I use gross or net income?
The 30% rule traditionally uses gross (pre-tax) income. Some advisors recommend using net (take-home) income for a more conservative estimate, particularly for high earners in high-tax jurisdictions.
What other housing costs should I factor in?
Add renters insurance (~$15–30/month), utilities (varies widely), parking, and any pet fees to get your true housing cost when comparing apartments.
What if I can't find housing under 30%?
Consider roommates to split costs, look in nearby neighborhoods, commute from a lower-cost area, or increase income through a raise or side income before signing a lease.
How does this differ from the 28/36 rule?
The 28/36 rule is mainly used for mortgage qualification. The 30% guideline is specifically for renters and is slightly more flexible. Both are rules of thumb, not financial law.