Rent Affordability Calculator
Determine how much rent you can afford based on income and the 30% rule or custom ratios
About this calculator
The Rent Affordability Calculator helps you determine how much you can safely spend on rent based on your income and financial guidelines. Using the widely-accepted 30% rule, which suggests spending no more than 30% of your gross monthly income on housing, this tool ensures you maintain a healthy budget. You can also customize the percentage to match your personal financial situation, helping you avoid rent burden and maintain financial stability while finding suitable housing within your means.
How to use
Enter your monthly gross income in the calculator. The tool will automatically apply the 30% rule to show your recommended maximum rent amount. For a personalized approach, adjust the percentage slider to use a custom ratio that better fits your financial goals and spending habits.
Frequently asked questions
What is the 30% rent rule?
The 30% rule suggests spending no more than 30% of your gross monthly income on rent to maintain financial stability and avoid housing cost burden.
Should I use gross or net income?
Use your gross monthly income (before taxes) as this is the standard method used by landlords and financial advisors for rent calculations.
Can I afford more than 30% on rent?
While possible, exceeding 30% may strain your budget. Consider your other expenses, savings goals, and debt obligations before going higher.