Rent Calculator

Rent Affordability Calculator

Rent Affordability Calculator

Determine what rent you can afford based on your income and expenses

Financial Information
Affordability Results
Rent-to-Income Ratio
-
%
Percentage of income spent on rent
Remaining Monthly Income
-
$
After rent and debt payments
Debt-to-Income Ratio
-
%
Including rent and other debts

Budget Breakdown

30%
Rent & Housing
Other Expenses
Remaining Income
Affordability Analysis
Affordability Guidelines

Analysis will appear here...

Rent Comparison
Budget Level Recommended Rent % of Your Income

This calculator helps assess rental affordability based on standard financial guidelines. Print Results



What is a Rent Calculator?

A Rent Calculator is a tool that helps tenants, landlords, and property managers determine fair rental prices, split rent among roommates, or calculate prorated rent for partial months. It simplifies complex calculations, ensuring transparency and accuracy in rental agreements.

Types of Rent Calculators

  1. Basic Rent Calculator

    • Calculates monthly rent based on lease terms.

    • Useful for comparing rental costs.

  2. Roommate Rent Split Calculator

    • Divides rent among roommates based on room size, amenities, or income.

  3. Prorated Rent Calculator

    • Computes rent for partial months (e.g., moving in mid-month).

  4. Affordability Calculator

    • Determines how much rent a tenant can afford based on income (typically following the 30% rule).

  5. Rent Increase Calculator

    • Estimates new rent after a percentage-based or fixed increase.

  6. Commercial Rent Calculator

    • Used for business leases, often based on square footage and location.

How to Use a Rent Calculator

1. Basic Monthly Rent Calculation

  • Input:

    • Total rent amount

    • Lease duration (monthly, yearly)

  • Output:

    • Monthly payment

2. Roommate Rent Split

  • Methods:

    • Equal Split: Total rent ÷ number of roommates.

    • Weighted Split: Based on room size, income, or amenities.

  • Example:

    • Total rent: $2,400

    • Roommate A (master bedroom): $1,000

    • Roommate B (smaller room): $800

    • Roommate C (smallest room): $600

3. Prorated Rent Calculation

  • Formula:

     Prorated Rent = (Monthly Rent ÷ Days in Month) × Days Occupied

  • Example:

    • Monthly rent: $1,200

    • Move-in date: June 15 (16 days remaining)

    • Prorated rent: ($1,200 ÷ 30) × 16 = $640

4. Rent Affordability (30% Rule)

  • Formula:

       Maximum Rent = Gross Monthly Income × 0.30

  • Example:

    • Monthly income: $5,000

    • Max affordable rent: $5,000 × 0.30 = $1,500

5. Rent Increase Calculation

  • Formula:

        
        New Rent = Current Rent × (1 + Percentage Increase)


Example:

  • Current rent: $1,500

  • Increase: 5%

  • New rent: $1,500 × 1.05 = $1,575