Rent Calculator

Rent Affordability Calculator

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Financial Information

Monthly Gross Income

$

Monthly Rent

$

Other Housing Costs

$

Monthly Debt Payments

$

Affordability Results

Rent-to-Income Ratio

-

%

Percentage of income spent on rent

Remaining Monthly Income

-

USD

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

Export Results

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

Calculation History

Date	Monthly Income	Monthly Rent	Rent-to-Income Ratio	Currency	Actions

No Calculation History

Your calculation history will appear here after you save calculations.

Calculation saved to history

Complete Guide: Mastering Your Rent Budget

Learn exactly what rent you can afford with our easy-to-use calculator, complete explanations, formulas, and expert advice

Finding the perfect apartment can be exciting, but the most important question often gets overlooked: What rent can I actually afford? Paying too much for rent can lead to financial stress, while paying too little might mean compromising on location or amenities. This guide, paired with our powerful Rent Affordability Calculator, will help you find the sweet spot.

Try Our Rent Affordability Calculator

Input your financial details to instantly see what rent you can afford, get personalized recommendations, and understand your financial picture.

Understanding the Rent Affordability Calculator

Our calculator helps you determine how much rent you can afford based on your income and expenses. It works by calculating key financial ratios that landlords and financial advisors use to assess housing affordability.

What the Calculator Measures

Rent-to-Income Ratio

The percentage of your monthly income that goes toward rent and housing costs. This is the most important number for landlords.

Remaining Income

How much money you have left each month after paying rent, other housing costs, and debt payments.

Debt-to-Income Ratio

The percentage of your income that goes toward all debt payments, including rent, loans, and credit cards.

Understanding Each Input Field

1. Monthly Gross Income

What It Is

Your total income before taxes and deductions. This includes your salary, bonuses, freelance income, investment income, and any other regular sources of money.

Example Person Income Sources Monthly Gross Income Sarah Full-time job $4,500 Mike Job + freelance work $3,800 + $700 = $4,500 Emma Hourly job (40 hrs × $25/hr) $4,000

Pro Tip

Use your stable, guaranteed income for this calculation. Don't include irregular bonuses or overtime unless you receive them consistently every month.

2. Monthly Rent

What It Is

The base rent amount you pay for your apartment or house each month. This is typically the largest housing expense.

City Average 1-Bedroom Rent Average 2-Bedroom Rent New York City $3,200 $4,500 Chicago $1,800 $2,200 Austin $1,500 $1,900 Your Target Enter your desired rent Based on your budget

3. Other Housing Costs

What It Is

Additional monthly housing expenses that aren't included in your base rent. These vary by location and housing type.

Common Other Housing Costs

• Utilities: Electricity, gas, water, internet
• Renter's insurance: Usually $15-$30/month
• Parking: $50-$300/month in cities
• Pet fees: $25-$100/month
• Storage units: If needed
• Laundry: If not in-unit

Housing Type Typical Other Costs Monthly Total Apartment (utilities included) Internet + insurance $80-$120 Apartment (utilities separate) All utilities + insurance $150-$300 House Rental All utilities + lawn care $300-$600+

4. Monthly Debt Payments

What It Is

Regular monthly payments toward debts other than housing. Landlords consider these when evaluating your application.

Common Monthly Debt Payments

• Student loans: Minimum monthly payment
• Car payments: Your auto loan payment
• Credit card payments: Minimum payments due
• Personal loans: Any installment loans
• Medical bills: If on payment plan
• Child support/alimony: If applicable

Debt Type Example Balance Typical Monthly Payment Student Loans $30,000 $300 Car Loan $15,000 $250 Credit Cards $5,000 $100 (minimum) Total $50,000 $650

The Formulas Behind the Calculations

Rent-to-Income Ratio Formula

The Formula

Rent-to-Income Ratio = (Monthly Rent + Other Housing Costs) ÷ Monthly Gross Income × 100

Variable Example Calculation Result Monthly Rent $1,500 ($1,500 + $200) ÷ $5,000 × 100 34% Other Housing Costs $200 Total Housing Cost $1,700 Monthly Income $5,000

Debt-to-Income Ratio Formula

The Formula

Debt-to-Income Ratio = (Monthly Rent + Other Housing Costs + Other Debt Payments) ÷ Monthly Gross Income × 100

Variable Example Calculation Result Total Housing Cost $1,700 ($1,700 + $500) ÷ $5,000 × 100 44% Other Debt Payments $500 Total Monthly Debt $2,200 Monthly Income $5,000

Remaining Income Formula

The Formula

Remaining Income = Monthly Gross Income - (Monthly Rent + Other Housing Costs + Other Debt Payments)

Variable Example Calculation Result Monthly Income $5,000 $5,000 - ($1,500 + $200 + $500) $2,800 Housing & Debt $2,200 Remaining For other expenses & savings

How Landlords Use These Numbers

The 30% Rule

Most landlords prefer tenants whose rent-to-income ratio is 30% or less. Some luxury buildings allow up to 40%, while affordable housing programs may have lower limits.

The 43% Rule

Many landlords and mortgage lenders use 43% as the maximum debt-to-income ratio. This includes all your debt payments, not just housing.

Application Requirements

Landlords will verify your income and calculate these ratios. They want to ensure you can pay rent consistently while covering other living expenses.

Landlord Type Typical Rent-to-Income Requirement Typical Debt-to-Income Requirement Corporate Apartments ≤ 30% ≤ 43% Private Landlords ≤ 35% ≤ 50% Luxury Buildings ≤ 40% ≤ 45% Affordable Housing ≤ 28% ≤ 40%

Negotiation Tip

If your ratios are slightly above requirements but you have excellent credit or a large savings account, mention this to the landlord. Some may make exceptions for strong overall financial profiles.

Advanced Calculator Features Explained

Currency Support

What It Does

Our calculator supports 50+ currencies with real exchange rates. This is perfect for expats, digital nomads, or anyone comparing rents in different countries.

How to Use Currency Feature

1. Select your preferred currency from the dropdown
2. Enter amounts in your selected currency
3. All calculations and results will display in that currency
4. Perfect for comparing costs across different countries

Calculation History

What It Does

Automatically saves your calculations so you can compare different scenarios, track changes over time, or return to previous calculations.

Use Case How History Helps Example Comparing Apartments Save different rent scenarios Apartment A vs B vs C Planning for Raise See how income changes affect affordability Current vs future income Budget Adjustments Track changes to your budget Month-to-month comparisons

Export Features

What It Does

Save your calculations in multiple formats for sharing with roommates, financial advisors, or keeping for your records.

TXT Export

Simple text format for easy reading and sharing via email or messaging apps.

HTML Export

Beautifully formatted web page that you can open in any browser.

Print Report

Optimized printing for sharing physical copies or keeping in files.

PDF Export

Professional PDF document perfect for formal applications or records.

Frequently Asked Questions (FAQ)

1. What is considered a good rent-to-income ratio?

The standard recommendation is 30% or less. This means if you earn $5,000 per month, your rent should be $1,500 or less. However, in expensive cities, up to 35% may be acceptable if you have low other expenses.

2. Why do landlords care about debt-to-income ratio?

Landlords want to ensure you can pay rent consistently. If too much of your income goes to other debts, you might struggle with rent payments. The typical maximum is 43% total debt-to-income ratio.

3. Should I use gross or net income for calculations?

Always use gross income (before taxes) because that's what landlords use. They typically require pay stubs or employment verification that shows gross income.

4. What if my income varies month-to-month?

Use your average monthly income over the past 6-12 months. If you're self-employed or have commission-based income, landlords may require 2-3 years of tax returns to verify stable income.

5. How do I account for roommates?

Calculate using your portion of the rent only. If total rent is $2,400 and you have one roommate, enter $1,200 as your monthly rent. However, be aware that most landlords require all tenants to qualify individually.

6. What if I have a co-signer or guarantor?

Their income will be added to yours for qualification purposes. Typically, they need to earn 3-5 times the monthly rent and have excellent credit.

7. How much should I budget for utilities?

This varies by location and apartment size. For a 1-bedroom apartment, budget $100-$300 for utilities (electricity, gas, water, internet). Ask current tenants for actual costs in that building.

8. Do credit card minimum payments count as debt?

Yes! Use the minimum monthly payment required for each credit card. Even if you pay more, landlords only care about the minimum you're obligated to pay.

9. What about savings or emergency fund?

While not part of the standard calculation, it's wise to ensure your remaining income allows you to save 10-20% each month. Our calculator shows you how much you'll have left after all expenses.

10. Can I afford more if I have no other debt?

Possibly! With no other debt payments, you might be able to go up to 35-40% rent-to-income ratio. However, consider your other living expenses (food, transportation, entertainment) before increasing your rent budget.

11. What if my rent includes utilities?

Great! Simply enter $0 for "Other Housing Costs" unless there are additional housing expenses like parking or storage fees.

12. How does the calculator handle different currencies?

Our calculator uses real exchange rates for 50+ currencies. Select your currency, enter amounts in that currency, and all calculations will be displayed accordingly.

13. What if I'm paid weekly or bi-weekly?

Convert to monthly: Weekly × 4.33 or Bi-weekly × 2.167. Example: $1,000/week = $4,330/month; $2,000/bi-weekly = $4,334/month.

14. Does the calculator save my data?

Yes! The calculator automatically saves your inputs locally in your browser. You can also manually save calculations to the history for long-term reference.

15. What if I have irregular income (freelance, seasonal work)?

Use your lowest expected monthly income or the average of your worst 3 months. Landlords are conservative and want to ensure you can pay during slow periods.

Final Expert Tip

Remember that the calculator gives you maximum affordability guidelines. Just because you can afford a certain rent doesn't mean you should pay that much. Consider your savings goals, retirement plans, and other financial priorities when deciding on your actual rent budget.