Rent Affordability Calculator: How Much Rent Can I Afford?
Find how much rent you can afford from your income with the 30% rule, the 40× rent rule landlords use and the 36% limit including your debts.
| Rule | Monthly rent |
|---|---|
| 30% of gross monthly income | |
| 40× rule (annual income ÷ 40) | |
| 36% of gross income minus debts |
What it does
There is no single rule for rent, so the calculator shows the three most common and takes the lowest. The 30% rule says rent should be at most 30% of gross monthly income. Many landlords ask for an annual income of 40 times the rent. Lenders' 36% rule limits rent plus all other monthly debt payments to 36% of gross income.
How to use it
- Type your gross income, per year or per month.
- Type your monthly debt payments (car, student loans, cards).
- See the rent each rule allows and the safe maximum.
The arithmetic runs in your browser. Nothing you type is sent anywhere and nothing is stored, so you can use these with real numbers.
Frequently asked questions
How much rent can I afford on 60,000 a year?
About 1,500 a month: 30% of 5,000 gross a month, which is also the 40× rule (60,000 ÷ 40). With 300 a month of other debts, the 36% rule also gives 1,500.
What is the 40× rent rule?
Many landlords, especially in New York, require an annual gross income of at least 40 times the monthly rent. For a rent of 2,000 that is 80,000 a year.
Should I use gross or net income?
The rules here use gross income, before taxes, as landlords and lenders do. If your take-home pay is much lower than your gross pay, aim lower, or use the 50/30/20 budget with your net income.
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