Free Rent Affordability Calculator: How Much Rent Can I Afford?
There are a few common rules for how much rent you can afford, and they don't always agree. Enter your pay and your other must-pay costs to see all three side by side.
It runs in your browser. Nothing you type is saved or sent anywhere. The numbers filled in below are a made-up example; change them to yours.
How the math works
- 30% rule: rent = monthly pay before taxes × 0.30. It's the most-quoted rule, but it ignores taxes and other bills.
- 40x rule: many landlords want yearly pay before taxes to be at least 40 times the monthly rent, so the most they'll approve is yearly pay ÷ 40. Some use 3x monthly pay instead, which works out about the same.
- Budget check: in a 50/30/20 budget, needs get half of take-home pay. Rent = half of take-home − your other needs.
Example (made up): $4,000 a month before taxes and $3,200 take-home, with $600 in other needs. 30% rule: $1,200. 40x rule: $48,000 ÷ 40 = $1,200. Budget check: $1,600 − $600 = $1,000. The comfortable target is $1,000 a month.
Leave room for move-in costs too: a deposit, first month's rent and often application fees. This is an estimate for planning, not financial advice.
See what each paycheck has to cover
The Paycheck Budget Planner ($7) budgets by paycheck instead of by month. Enter your pay schedule and bills, and it shows what each check covers and what's left. Works in Google Sheets and Excel.
Get the planner on Gumroad – $7
This template is also in the Complete Household Money Bundle (what's inside): all 13 home money spreadsheets for $29 (about $69 if bought one by one).
We make this template, so take that into account. The calculator above is free to use either way.
Related free guides
- How to Budget for Moving to a New Apartment
- How to Budget Your First Paycheck (First Job Guide)
- How to Budget While Living With Your Parents
- How to Make Your First Budget (30-Minute Walkthrough)
More free tools: all calculators.
See all Cedar & Ledger templates