Rent Calculator

How to use this calculator

1. Enter or choose gross income (before tax).
2. Enter or choose income is per.
3. Enter or choose other monthly debt payments.
4. Enter or choose maximum rent share of income.
5. Enter or choose maximum rent + debts share of income.
6. The affordable monthly rent updates as you type. Use Copy result or Share to keep it.

Method

Monthly income M = yearly income ÷ 12; Rent limit = min(M × Rent%, M × Debt% − Debts); Income needed = 12 × max(Rent ÷ Rent%, (Rent + Debts) ÷ Debt%)

M

gross monthly income

Rent%

maximum rent as a share of income

Debt%

maximum rent plus debt payments as a share of income

Debts

other monthly debt payments

Worked example

1. Monthly income = 60,000 ÷ 12 = 5,000.
2. Rent limit = 5,000 × 30% = 1,500.
3. Debt limit = 5,000 × 36% − 400 = 1,400, which is lower, so 1,400 is affordable.
4. For 2,000 rent: 2,000 ÷ 0.30 = 6,667 and 2,400 ÷ 0.36 = 6,667 a month, or 80,000 a year.

On $60,000 a year with $400 of monthly debt payments, rent up to about $1,400 a month fits both rules.

What the result means

Treat the result as a ceiling, not a target. If your existing debts are the limiting factor, paying one off raises what you can afford more than a pay rise of the same size would. Many landlords also run their own income checks, so ask what they require.

Assumptions and limits

• Income is gross (before tax).
• The percentages are rules of thumb you can change, not legal or lender limits.
• Utilities, insurance, deposits and moving costs are not included.
• High-cost cities often push renters above 30%; your own budget is the better guide.