Wondering what rent you can afford? Use the rent calculator below to figure out how much you could spend on rent while keeping your finances in check.
Disclaimer: The results the calculator provides are just a suggestion. You should evaluate your finances carefully before signing a lease on a new apartment.
To calculate how much rent you can afford, we multiply your gross monthly income by 20%, 30% or 40%, based on how much you want to spend. You can use the slider to change the percentage of your income you want spend on housing. If you use the additional options, we deduct the rent from your income and subtract your debt, expenses, and savings from the remaining money, depending on which fields you filled in. The final number represents the money you have left to spend per month.
The share of your income that should go towards paying your rent depends on many factors, the most important ones being your income level and where you want to live. Still, there are a few commonly accepted rules you can use if you want to figure out a specific ratio of rent to income. For example, our rental income calculator starts with 30% as a standard for how much of your income you should set aside for rent. However, this doesn’t mean that 30% is the only option