Rent Calculator
Find out how much rent you can afford using the 30% rule, 28% rule or the landlord's 2.5× to 3× income test, and check any rent against your income.
How it works
Enter your gross (pre-tax) income, monthly or annual, and pick a rule. The 30% and 28% rules cap rent as a share of income. The landlord rule requires income of 2.5 to 3 times the rent, which gives a range.
Utilities and renters insurance are subtracted to show how much is left for the rent itself. Your debts are checked against the common 36% total-debt guideline.
Type a specific rent to see its rent-to-income ratio. It turns orange above 30% (cost-burdened) and red above 50% (severely cost-burdened). Use the roommate stepper to split the cost.
Formula
30% rule: rent
Where:
- income
- = Gross monthly income
- rent
- = Monthly rent
Worked example
With a gross monthly income of $5,000, the 30% rule gives a maximum rent of $1,500.
The 3× rule gives 5,000 ÷ 3 = $1,666.67, and 2.5× gives $2,000, a range of $1,666.67 to $2,000.
With $150 in utilities and $15 in renters insurance, $1,335 is left for rent under the 30% rule.
Determining Your True Housing Budget
The old rule of thumb that rent should be no more than 30% of your gross income is a helpful starting point, but it often fails to account for the nuances of a modern budget. For instance, a high debt load from student loans or car payments can make a 30% rent payment feel incredibly tight. Our calculator goes beyond the basics by allowing you to check your budget against three different standards, including the strict 2.5x to 3x income tests often used by landlords during the application process. Seeing these side-by-side helps you understand not just what you *can* afford, but what you are likely to be approved for.
It is also vital to factor in the 'hidden' costs of housing that aren't included in the base rent. Utilities, trash fees, and renters insurance can easily add 00 or more to your monthly obligations. By entering these estimates into the calculator, you can see a realistic 'net rent' figure, the maximum you should pay the landlord after these other essential costs are covered. This provides a much clearer picture of your actual purchasing power when browsing apartment listings and helps prevent the common mistake of overextending yourself based on the rent price alone.
Roommates and Realistic Ratios
Splitting a lease with roommates is one of the most effective ways to lower your housing costs, but the math can get complicated quickly. Our tool includes a roommate stepper to help you see how your individual share changes as you add more people to the household. Remember that even if the total rent fits within the 30% rule for the group, landlords may still require each individual to meet their income standards. Use the 'Check a rent' feature to see exactly where a specific unit falls on the affordability spectrum, from comfortably within reach to 'severely cost-burdened' at over 50% of your income.
Frequently asked questions
Gross (pre-tax) income. If you have high taxes or debt, a lower share may be more comfortable.
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For informational purposes only. This calculator does not provide financial advice. Consult a qualified professional before making decisions based on these results.