Rent Calculator
What is the Rent Calculator?
Our Rent Calculator is a quick and easy tool to help you determine how much you can reasonably afford to spend on rent each month. By inputting your annual or monthly income and your existing monthly debts, the calculator uses standard financial guidelines to provide you with a recommended and maximum rent amount.
Key Rules of Thumb
The 30% Rule
Financial experts commonly recommend that your rent should not exceed 30% of your gross monthly income. This is considered the `safe` and most financially sound option.
The 40% Rule
For those with minimal debt or higher-than-average income, spending up to 40% of your gross monthly income on rent might be manageable. This is considered the `acceptable` or `aggressive` range.
Who Can Benefit?
Students
Plan your budget before moving to a new apartment or off-campus housing.
Young Professionals
Determine a realistic budget for your first or next apartment to ensure financial stability.
Families
Find out what rent fits comfortably into your household budget without overextending.
Anyone Moving
Use the tool as a starting point to search for apartments in your price range.
