GlenCalc

Rent calculator

A common guideline is to spend no more than 30% of gross income on rent, and many landlords ask for income of 40 times the monthly rent. Enter your numbers to see where you stand.

Your answer

Affordable rent$1,500.00per month
30% of income$1,500.00
Leaving total debts under 36%$1,500.00
Rent landlords allow at 40 × rent$1,500.00

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How we worked it out

Updated as you change the numbers.

  1. Monthly income = $60,000.00 ÷ 12 = $5,000.00.
  2. 30% of that = $1,500.00.
  3. With debts, 36% of income − $300.00 = $1,500.00. The lower figure is shown.

Method and assumptions

The 30% rule comes from US housing policy, which counts households paying more than 30% of income on housing as cost-burdened. The calculator also checks that rent plus other debts stays under 36% of income, and shows the common landlord test of annual income at least 40 times the monthly rent.

Questions

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

30% of $5,000 a month is $1,500.

Sources

Method and figures checked on . Every worked answer on this page is covered by an automated test. Found a mistake? Tell us.

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