Rent Affordability Calculator

Calculate affordable rent based on income.

Rent Affordability Calculator - Calculate How Much Rent You Can Afford

Rent Affordability Calculator

Calculate how much rent you can afford based on your income using the 30% rule and other financial guidelines.

Income Information

Include federal, state, and local taxes plus FICA

Rent Affordability Results

Maximum Monthly Rent

Monthly Income

Net Income (if gross)

Remaining After Rent

For other expenses

Rent Range Recommendations

Conservative (28%)

Low financial stress

Recommended (30%)

Standard guideline

Maximum (33%)

Higher risk

Monthly Budget Breakdown

Rent
Other Expenses

Understanding Rent Affordability

Affordability Rules

30% Rule

Most commonly recommended - spend no more than 30% of gross income on rent

28% Rule

Conservative approach for better financial cushion

50/30/20 Rule

Rent is part of 50% allocated to needs (housing, utilities, groceries)

Additional Considerations

  • Include utilities, parking, and other housing costs
  • Consider your debt obligations and credit score
  • Factor in moving costs and security deposits
  • Maintain emergency fund for 3-6 months expenses
  • Account for income stability and job security

Calculation Formula

Maximum Rent = (Monthly Income × Affordability Percentage) ÷ 100

If using gross income: Net Income = Gross Income × (1 - Tax Rate)

Rent Affordability Tips

Before You Rent

  • • Calculate total housing costs including utilities
  • • Check your credit score and improve if needed
  • • Save for security deposit and first month's rent
  • • Research neighborhoods and commute costs
  • • Get pre-approved or gather required documents

Long-term Planning

  • • Plan for annual rent increases
  • • Consider proximity to work and amenities
  • • Factor in lifestyle and space needs
  • • Build and maintain emergency fund
  • • Review and adjust budget regularly
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