Rent Affordability Calculator: How Much Can You Afford?

Rent Affordability Calculator

Determine how much rent you can afford based on your income and expenses.

$
$
$
$
30%

The standard recommendation is 30% of gross income.

How to Use Our Rent Affordability Calculator

The rent affordability calculator helps you determine how much you can comfortably spend on rent based on your income and financial situation. Financial experts typically recommend spending no more than 30% of your gross income on housing costs, but this can vary depending on your location, lifestyle, and other financial obligations.

Using this calculator will give you a clearer picture of your rental budget and help you make informed decisions when apartment hunting or planning your finances.

Step-by-Step Guide to Using the Rent Affordability Calculator

1

Enter your monthly income - Input your gross monthly income (before taxes) in the first field. Include all sources of income such as salary, freelance work, investments, or other regular income.

2

Add your monthly expenses - Enter your typical monthly expenses excluding rent. This includes groceries, utilities, transportation, entertainment, and any other regular spending.

3

Include debt payments - Enter your monthly debt obligations such as student loans, car payments, credit card minimums, or personal loans.

4

Set your savings goal - Input how much you aim to save each month. Including this ensures your rent budget doesn't interfere with your long-term financial goals.

5

Review your results - After clicking "Calculate Affordable Rent," you'll see your recommended rent budget based on your inputs, along with alternative budget options and a detailed breakdown of your monthly finances.