🔑Rent Affordability Calculator

About this tool

Enter your gross income per year, month or week, and optionally your monthly take-home pay, other monthly costs and savings goal. The calculator shows the rent each rule allows and highlights the lowest of them as a safe target. You can change the percentage rule and the landlord's income multiple.

How much of your income should go on rent?

The most common rule of thumb is to spend no more than about 30% of your gross, pre-tax income on rent. On $60,000 a year, that's $1,500 a month. Landlords and letting agents often apply their own test: in the US many require annual income of at least 40 times the monthly rent, and in the UK 30 times is common, which is why a $1,500 rent needs about $60,000 of income. Both rules ignore your other commitments, so the budget check starts from what actually reaches your bank account and subtracts your other monthly costs, such as bills, debt repayments, food and transport, and your savings goal. The lowest of the three is the safest target. In expensive cities many people pay more than 30%, which can work if other costs are low, but it leaves less room for saving and emergencies. Remember the extras: deposits, holding fees, utilities, internet, council tax or renters' insurance. Honest limits: these are rules of thumb, not guarantees of what a landlord will accept, and your circumstances matter more than any formula. Not financial advice. The rent split calculator divides rent between housemates, the budget planner tracks spending and the 50/30/20 calculator sets overall limits.

Frequently asked questions