Rent Calculator | calcu.online
Estimate an affordable monthly rent based on your income and debts.
Calculator Inputs
Results
Your rent is
31.1%
of your monthly income.
Your rent is in the 'stretching' range. While manageable, it may be wise to look for ways to reduce housing costs or increase income.
How to Use the Rent Calculator
- Enter Your Income: Input your total gross (pre-tax) monthly income.
- Enter Housing Costs: Add your monthly rent amount. For a more accurate result, include estimated monthly utilities and other housing costs.
- View Your Ratio: The calculator instantly shows what percentage of your income goes to housing. The color-coded gauge and summary text will help you understand if your rent is considered affordable.
Example: If your monthly income is $4,000 and your rent is $1,200, you’re spending 30% of your income on rent, which is considered a healthy ratio.
Frequently Asked Questions
What is a good rent-to-income ratio?
A commonly recommended rent-to-income ratio is 30% or less. Spending more than 30% of your gross monthly income on rent can make it difficult to afford other necessities, save for emergencies, and meet long-term financial goals.
Does this calculator include utilities?
Yes, you can optionally add your estimated monthly utilities and other recurring housing costs (like renter's insurance) to get a more accurate picture of your total housing burden as a percentage of your income.
How can I lower my rent-to-income percentage?
You can lower your ratio by either increasing your income (e.g., through a side hustle or salary negotiation) or by reducing your housing costs. This might mean finding a less expensive apartment, getting a roommate, or cutting back on utility usage.
Is the 30% rent rule still accurate today?
The 30% rule is a guideline, not a strict rule. In high-cost-of-living areas, it may not be realistic. The most important thing is to create a budget that allows you to comfortably cover all your expenses and save money, even if your rent is slightly above 30%.