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How Much Rent Can I Afford? Rent Calculator

Enter your income and debt payments to see a comfortable rent, the 30% rule, and the most your debts leave room for, plus the income landlords look for.

Suggested max rent

$1,450

limited by your debt payments

Comfortable

$1,250

25% of gross income

30% rule

$1,500

what landlords' 40× rent check allows

$1,400 is 28% of your gross pay. Landlords asking for 40× the rent want a yearly income of $56,000, and it fits your suggested max.

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How it is worked out

  • Comfortable rent is 25% of your gross (before-tax) monthly income.
  • The 30% rule caps rent at 30% of gross income. Landlords who ask for a yearly income of 40× the rent are checking the same thing.
  • With debts, lenders treat 36% of gross income for housing plus debt payments as the upper limit, so your debt payments come off that.
  • The suggested maximum is the lower of the 30% rule and what your debts leave room for.

Questions

Is the 30% rule based on gross or take-home pay?

Gross, the number before taxes. That's what landlords check. If your budget is tight, run the numbers on take-home pay too.

What income do I need for a given rent?

Many landlords want a yearly income of 40 times the monthly rent. For a 1,500 rent, that's 60,000 a year.

Should utilities count toward rent?

If utilities are separate, add a typical monthly amount to the rent you compare, so the number reflects what you'll really pay to live there.