Rent Affordability Calculator (How Much Rent Can I Afford?)
Enter your gross income and monthly debt payments to see an affordable rent range.
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Rent Affordability Calculator (How Much Rent Can I Afford?) by TheCalcTools
How the Rent Affordability Calculator (How Much Rent Can I Afford?) works
A long-standing guideline is to spend no more than about 30% of gross income on housing; the US Department of Housing and Urban Development calls households above 30% cost-burdened. Many landlords also require yearly income of 40 times the monthly rent.
If you have other debts, keeping rent plus debt payments under about 43% of gross income leaves room for savings and other costs. Use the lowest figure as a comfortable maximum.
The formula
Worked example
Using the default values shown in the calculator:
| Gross yearly income | $72000 |
|---|---|
| Monthly debt payments (cards, loans) | $400 |
| Share of gross income for rent | 30 % |
| Maximum total debt-to-income (rent + debts) | 43 % |
- On 72,000 a year: 30% is $1,800 a month and the 40× rule allows $1,800.
- With 400 of debts at a 43% limit: $2,180. A comfortable maximum is $1,800.
Result:
| Affordable rent (lowest of the checks) | $1,800 |
|---|---|
| By the share-of-income rule | $1,800 |
| By the landlord 40× rule | $1,800 |
| By the debt-to-income limit | $2,180 |
| Income landlords may want for this rent (40×) | $72,000 |
Frequently asked questions
Is 30% realistic in expensive cities?
Often not. If you pay more, cut other spending and keep an emergency fund; shared housing can help.
Sources and further reading
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This calculator gives estimates for information only. It is not financial advice, and your lender's or provider's figures will govern. Rates, fees and rules vary. See our disclaimer.