Rent Affordability Calculator

Estimates how much monthly rent fits your income under common rules of thumb, or works backward from a rent to the income you need. Use it to set a budget for an apartment search or to check a landlord's income requirement.

How to use

1. Under "What do you want to know?", choose "Rent I can afford" or "Income I need".
2. Enter your "Gross income (before tax)" and choose "Per year" or "Per month", or enter the "Monthly rent" for the reverse.
3. If you pay off loans or cards each month, enter the total under "Monthly debt payments".
4. To change the percentages or the income multiple, open "Rules of thumb (adjustable)".

How it works

• "Suggested rent" is 30% of monthly gross income by default, with a 25–35% range. If you enter debt payments, rent plus debts must also stay within 36% of income, and the lower limit is used.
• The landlord test divides monthly income by the multiple (3 by default). It has its own row and does not change the suggested rent.
• In "Income I need", the headline figure is the higher of the incomes required by the rent share and by the debt limit.
• These are rules of thumb, not a guarantee that a landlord will accept you. Utilities, renter's insurance and taxes are not included.

Questions and answers

How much rent can I afford on $60,000 a year?

$60,000 a year is $5,000 a month. At 30% that is $1,500 in rent, and the 25–35% range is $1,250 to $1,750.

What is the 30 percent rule for rent?

It is a rule of thumb that rent should take no more than 30% of gross monthly income. Because gross income is before tax, the share of take-home pay is higher.

What does income of 3 times the rent mean?

Many landlords ask for gross monthly income of at least three times the rent. For a rent of $1,800, that is $5,400 a month or $64,800 a year.

Do car or student loan payments lower the result?

They can. With $5,000 monthly income and $500 of debt payments, the 36% limit leaves $1,300 for rent, below the $1,500 from the 30% rule.