Rent Affordability Calculator
Find the maximum rent you can afford based on income and the 30% rule.
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Frequently Asked Questions
What is the 30% rent rule?
The 30% rule says spend no more than 30% of gross monthly income on rent. On a $65,000 salary ($5,417/month gross) that is $1,625/month maximum. This guideline originated in 1969 US housing policy. In high-cost cities many people spend 40-50% — if you must exceed 30%, offset it by cutting other expenses aggressively.
What else should I budget for besides rent?
Total housing costs include: rent, renters insurance ($15-30/month), utilities ($100-200/month), parking if not included, and any pet fees. Many landlords require proof of income at 2.5-3x monthly rent. Factor all these into your housing budget, not just the headline rent number.
Should I rent or buy?
Renting is better when: you plan to move within 3-5 years, the price-to-rent ratio is above 20 (buy price / annual rent), you lack funds for a down payment, or your local market is overvalued. Buying builds equity and provides stability but requires significant upfront costs (3-20% down plus closing costs of 2-5%). Use the rent vs buy calculator for a full comparison.