How Much Rent Can You Afford?
Before you start apartment hunting, it's important to know your budget. Our Rent Affordability Calculator uses your income, debts, and expenses to estimate a safe maximum rent using the 28/36 rule.
Before you start apartment hunting, it's important to know your budget. Our Rent Affordability Calculator uses your income, debts, and expenses to estimate a safe maximum rent using the 28/36 rule.
Our rent affordability calculator estimates the maximum rent you can afford using your income, debts, recurring expenses, other monthly expenses, and savings goals. It applies the 28/36 rule used by landlords and lenders.
Maximum rent under 28% = 0.28 × Gross monthly income.
Maximum rent under 36% = 0.36 × Gross monthly income − (monthly debts + recurring expenses + other expenses + savings goal).
Your affordable rent is the lower of these two values (or zero if the 36% limit yields a negative result). This keeps room for savings and other needs.
High debts or expenses can push your affordable rent below 28% of income. Reducing debts or trimming expenses can increase your rental budget.