Rent Affordability Calculator
Income:
A rent affordability calculator determines how much rent you can comfortably pay based on your income. The most widely used rule is the 30% rule — no more than 30% of gross (pre-tax) monthly income on rent. Many financial advisors now suggest 25–28% to allow for savings.
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Tip: In high cost-of-living cities, many renters spend 40–50% of income on rent out of necessity. In these cases, focus on minimizing other expenses and aggressively growing income.
- 1Determine your gross monthly income (before taxes)
- 2Apply the 30% rule: max rent = income × 0.30
- 3More conservative: 28% rule leaves more for savings
- 4DTI approach: housing + all debts should not exceed 36% of income
$60,000/year ($5,000/month)=$1,500/month max (30% rule)$1,400 at 28%, $1,800 with no other debts (36% DTI)
$80,000/year + $400/month in debts=$2,000/month max (36% DTI rule)36% of $6,667 = $2,400 − $400 debts = $2,000
| Annual Income | Monthly Income | 30% Rule | 28% Rule |
|---|---|---|---|
| $30,000 | $2,500 | $750/mo | $700/mo |
| $45,000 | $3,750 | $1,125/mo | $1,050/mo |
| $60,000 | $5,000 | $1,500/mo | $1,400/mo |
| $80,000 | $6,667 | $2,000/mo | $1,867/mo |
| $100,000 | $8,333 | $2,500/mo | $2,333/mo |
| $150,000 | $12,500 | $3,750/mo | $3,500/mo |
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Fun Fact
The 30% rule originated from the US National Housing Act of 1937, which set income limits for public housing at 30% of income. It was never based on what's optimal for household budgets.
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