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Rent Affordability Calculator

Find how much rent you can afford.

How it is calculated

The tool multiplies your monthly income by two fixed shares: recommended = income × 0.30 and stretch = income × 0.40. Income is a single monthly figure that must be above zero. Results are shown with two decimals and a dollar sign, but the sign is only a label, so any currency works as long as you read the answer in the same currency you entered. Nothing else is taken into account: utilities, debts, savings goals, taxes, local rent levels and household size are not factored in. The 30% share is a guideline and the 40% share is a ceiling, so the real limit for your budget can differ.

Worked example

Suppose your monthly income is 4000. For the recommended share, multiply 4000 by 0.30 to get $1,200.00. For the stretch share, multiply 4000 by 0.40 to get $1,600.00. A flat asking 1,450 per month falls between the two, so it is affordable only if the rest of your budget is light.

Try this example →

Common mistakes

  • Entering annual income. The tool expects a monthly figure, so a yearly amount would give rent twelve times too high.
  • Mixing gross and net. The percentages are rules of thumb that are normally applied to the income your landlord or lender looks at, so be consistent about which one you use and treat the answer accordingly.
  • Forgetting extra housing costs. Utilities, internet, parking and renter's insurance come on top of rent and are not in the result.
  • Treating the stretch figure as a target. It is an upper limit and leaves little room for debt payments or savings.
  • Using household income for one person's share. If you split rent, enter only the income that actually pays for it.

Sources

About this calculator

This calculator estimates how much rent fits your budget using two widely cited affordability guidelines: the classic 30% rule (spend no more than 30% of gross monthly income on rent, a benchmark that traces back to US federal housing-assistance standards) and the looser 40% rule some landlords use as a screening cutoff for approving applicants. Entering monthly income shows the maximum rent each rule allows, giving two reference points rather than a single rigid number.

Apartment hunters use this to figure out a realistic price range before touring listings, personal finance advisors use the 30% benchmark when coaching clients on budgeting, and property managers and landlords use the 40% rule (income at least 2.5 times the rent) when screening rental applications. Anyone comparing job offers in different cities, or deciding whether a lease renewal at a higher rate still fits their budget, uses this calculator to check the math quickly.

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Comments (1)

  • Editorial team

    The tool takes one monthly income figure and applies fixed 30% and 40% shares. It cannot tell whether that income is before or after tax, so decide which one you mean and stay consistent. If you have loan repayments or a long commute, treat the 30% line as the ceiling rather than the target. Does the 40% line match what landlords ask for where you live? Share your market's rule of thumb.

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