Renter Resources

Rent Affordability Calculator

Find out how much rent you can afford from your income and monthly debts, and the most rent a landlord using the 3× income rule would approve.

Calculate my rent

Find out how much you can spend on rent.

30%
10% Recommended 50%

Your budget is 30% of your income before taxes. Debt payments above 6% of your income come off it, so rent and debts together stay within 36%.

Example
On a $4,500 monthly income, you could spend about
$1,350 a month on rent
Enter your income to see your own budget

What $1,350 rents in Longview, WA

  • 1 bedroom$1,193
  • 2 bedrooms$1,438
  • 3 bedrooms$1,941

Average rents on RentalSource. See rent trends

What landlords approveExample

Most landlords ask for a monthly income before taxes of 2.5 to 3 times the rent, and some ask for a yearly income of 40 times the rent. Here is the most rent each rule would approve.

40× yearly income
$1,350/mo
3× monthly income
$1,500/mo
2.5× monthly income
$1,800/mo

This calculator provides a broad approximation and is intended for educational use. Projections are based on the data supplied and should not serve as a resource for decision-making.

Frequently Asked Questions
Questions About Rent Affordability?

Find answers to help you assess your budget and make informed rental decisions.

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Our rent affordability calculator provides a reliable estimate based on the information you input. However, for a comprehensive financial assessment, consider consulting a financial advisor.
A common guideline is to spend no more than 30% of your monthly income before taxes on rent. If your debt payments, such as car loans, student loans and credit cards, are more than 6% of your income, lower your rent budget by the difference so rent and debts together stay within about 36%. It isn't a hard rule: your city, household and other costs matter too.
The 50/30/20 rule divides your take-home pay into three parts: 50% for needs, 30% for wants and 20% for savings and extra debt payments. Rent is a need, along with utilities, groceries, insurance and minimum loan payments, so if rent alone takes most of the 50%, a lower rent leaves room for the rest.
A common guideline is at most 30% of your income before taxes. Landlords usually check income the same way: most ask for a monthly income before taxes of 2.5 to 3 times the rent, which means rent of 33% to 40% of income at most. Your location, household size, debts, utility costs and lifestyle can all make a lower share the better choice.
Property managers usually consider both incomes when two unrelated individuals lease an apartment. If you and your roommate earn $35,000 annually, you may find a landlord who would rent you an apartment for $1,750 monthly. However, proceed with caution. If your roommate faces any unforeseen circumstances and cannot contribute towards the rent, you, as a co-lessee, are still liable for the total rent amount. Therefore, choose your roommates and the apartment you rent very thoughtfully.
You can use the 30% Gross Income Rule, which suggests not exceeding 30% of your gross monthly income on rent, or the 40x Rule, which recommends your annual income be at least 40 times your monthly rent. The Fixed Expenses Method involves subtracting your monthly fixed expenses from your net income to see what's remaining for rent. Alternatively, the 50/30/20 Rule allows for adjustments based on personal financial goals, and our rent affordability calculator can offer a quick estimate, but adjusting to your financial situation and goals is crucial.
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Ashley Morgan - Founder & CEO
“Knowing what you can afford is the first step to finding the right home. Use our affordability calculator to make confident, informed rental decisions.”
Ashley Morgan
Founder & CEO