The rent affordability calculator determines how much you can afford to pay in rent based on the 30% rule (rent should not exceed 30% of gross income).
Enter your monthly gross income and desired percentage for rent (30% is recommended, though some go up to 40%). The calculator shows maximum affordable rent and remaining income.
Many landlords require income to be 3x the rent. Following the 30% rule ensures housing is affordable while leaving enough for other expenses and savings.
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Frequently Asked Questions
Industry standard; keeps housing affordable while allowing for other necessities.
Possible in high-cost areas, but leaves less for savings and emergencies.
Typically gross (before taxes), though net is more conservative.
Consider total debt+rent; aim for under 50% of gross income.
Yes, typically require paystubs and want income 3x rent.