Calculate Your Rent Affordability

If 30% of your income exceeds your budget, consider looking for more affordable housing options, getting a roommate to split costs, or finding ways to increase your income. You might also look into areas with lower rent prices or consider studio apartments instead of larger units.

The 30% rule typically uses gross income (before taxes and deductions). However, using net income (after taxes) provides a more conservative and realistic budget. Our calculator uses gross income by default, but you can adjust based on your preference. Learn more about calculating your rent-to-income ratio.

Include utilities (if not covered by rent), groceries, transportation, insurance, subscriptions, entertainment, and other regular monthly costs. Don't include debt payments as those have a separate field.

In high-cost areas like New York, San Francisco, or Los Angeles, many renters spend 40% or more of their income on rent. While this is common, it's important to ensure you still have enough for other necessities and emergency savings. Try to minimize other expenses and build a strong emergency fund if you're spending more than 30%. Check out our comprehensive apartment budgeting guide for more tips.

Financial experts typically recommend saving 3-6 months of living expenses in an emergency fund. This provides a safety net for unexpected job loss, medical emergencies, or major repairs. Start with a goal of one month's expenses and build from there.

The rent amount calculated is for base rent only. You should include utilities, internet, and renter's insurance in the "Other Monthly Expenses" field if they're not included in your rent. This gives you a more accurate picture of your total housing costs. Also consider using our moving costs calculator to budget for upfront expenses.