Rent Calculator
Find out exactly how much rent you can afford based on your income and expenses — using the 30% rule, 28% rule, and your actual monthly budget.
How to Use the Rent Calculator
- 1Enter your gross monthly income before taxes. The calculator applies three standard affordability rules to give you a range of what you can spend on rent.
- 2Enter all your existing monthly debt payments including car loans student loans and credit card minimums. Higher debts mean less money available for rent.
- 3Enter your monthly savings goal and other regular expenses. The budget-based calculation subtracts everything to show you what you can genuinely afford after all obligations.
- 4Download the free PDF for a complete affordability breakdown to use when apartment hunting.
Example Calculation
Income $6,000 | Car $400 | Student $200 | Debts $100 | Savings $300 | Other $500
- 30% Rule: $1,800 | 28% Rule: $1,680 | 25% Rule: $1,500
- Total Non-Rent Expenses: $1,500 | Budget-Based Rent: $4,500 | Available after all: $4,500
- Recommended: $1,800 (30% rule)
Frequently Asked Questions
What is the 30% rule for rent?
The 30% rule says you should spend no more than 30% of your gross monthly income on rent. On a $6,000 monthly income that means a maximum rent of $1,800. This rule has been the standard recommendation for decades though in expensive cities many renters spend more. The 30% rule is a useful starting point but your actual affordability depends on your other expenses and financial goals.
What is the difference between the 30% and 28% rule?
The 28% rule is slightly more conservative and accounts for the fact that rent is not your only housing cost — you also have renters insurance utilities and other housing expenses. Using 28% leaves a small buffer for these costs while the 30% rule covers rent alone.
How does debt affect how much rent I can afford?
Existing debt payments directly reduce how much you can spend on rent. Landlords typically want total monthly obligations including rent to stay below 40% to 45% of gross income. High car payments student loans and credit card minimums can significantly limit your affordable rent range.
Should I use gross or net income for the 30% rule?
The 30% rule traditionally uses gross income before taxes. However some advisors recommend using net take-home pay for a more realistic picture. If you earn $6,000 gross but take home $4,500 after taxes spending 30% of gross means rent is 40% of your actual take-home pay. The budget-based method in this calculator uses gross income but shows you the full picture after all expenses.
What other costs should I budget for beyond rent?
Beyond rent budget for utilities averaging $150 to $250 per month renters insurance $15 to $30 per month parking if not included and a moving fund. Many apartments require a security deposit of one to two months rent upfront. Total housing costs including rent and utilities typically run 5% to 10% higher than rent alone.