Rent Calculator
Adjust the inputs below. Results update as you type.
How it works
Rent is primarily market-driven: compare similar units in the same neighborhood for size, amenities, and condition. Price per square foot is a common benchmark. Landlords typically target gross rent multiplier (GRM) = price / annual rent; lower is better for investors. As a renter, budget for first/last month's rent plus security deposit (1–2 months). Factor in utilities if not included.
Input guidance
- Base rent should match the listing before optional fees.
- Add required fees you will actually pay (parking, pets, utilities if fixed).
- Compare the total against take-home income, not only gross.
The formula
A common guideline caps rent near 30% of gross monthly income: affordable rent = monthly income × 0.30. Some landlords require income of at least 3× the rent.
Worked example
On $5,000 gross monthly income, the 30% rule suggests keeping rent around $1,500. A landlord using a 3× rule would want income of at least 3 × rent for approval.
More examples to test
- $1,850 rent + $150 parking + $40 pet rent: total monthly housing outflow.
- Same unit with utilities estimated at $120: cash-flow check vs paycheck.
How to interpret results
Use total monthly housing cost for budgeting. Affordability screens that ignore fees understate the true bill.
When this can be inaccurate
Variable utilities, deposits, and rent increases after year one are not fully modeled.
Change history
- July 2026: Published rent budgeting path with fee-inclusion guidance.
Site-wide corrections also appear on the corrections log.
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Frequently asked questions
Is the 30% rule strict?+
It is a guideline, not a law. In expensive cities people often spend more; the key is whether the rest of your budget still works.
Should I budget gross or net income?+
The 30% rule traditionally uses gross income, but budgeting against take-home pay gives a more realistic picture of what you can afford.
What other costs come with renting?+
Factor in utilities, renters insurance, parking, and a security deposit — they add meaningfully to the true monthly cost.
How should I use this result?+
Treat it as a planning estimate. Compare at least two realistic scenarios, then confirm with statements, quotes, or a qualified professional before acting.
How often should I refresh assumptions?+
Refresh whenever rates, income, costs, or policy limits change materially, and before making irreversible commitments.