Rent Calculator is a tool to calculate how much rent you can afford each month. The rent affordability calculator is calculated based on your annual income and monthly recurring debt.
How much rent can I afford? - You should not spend more than 1/3 of your income on rent because that would limit your spendings in other areas such as food and social. Some landlord does not accept tenants who spend more than 1/3 of their income on rent.
The rent affordability chart gives you an idea how much rent you can afford based on different income, and the maximum that they can afford on rent each month.
Generally, you should not spend more than 30% of your monthly gross income on rent as that will impact the lifestyle in other areas such as food, vacations, and savings. However, every individual has different goals, and the cost of living varies greatly from state to state and city to city. The exact amount you spend on rent is a personal choice. There are three rules to judge whether you are overspending or underspending for rent. 28% - If you are spending less than 28% of your gross income on rent, your rent is in the low range. 33% - If you are spending 33% of your salary on rent, your rent is in the mid-range. 36% - If you are spending 36% or more of your income on rent, your rent-to-income ratio is too high meaning you should cut down your spending on rent.
The rent affordability calculator asks for two pieces of information, your annual pre-tax income and monthly debt. Based on this information, the rent affordability calculator will calculate the minimum and maximum amount that you can spend on rent each month. The how much rent you can afford calculator will calculate your rent in three ranges, minimum (28%), midrange (33%), and maximum (36%) of your gross income.
The following table shows you how much rent you can afford each month based on your annual income.
| Annual Income | Minimum | Midrange | Maximum |
|---|---|---|---|
| $10,000 | $233 | $275 | $300 |
| $15,000 | $350 | $413 | $450 |
| $20,000 | $467 | $550 | $600 |
| $25,000 | $583 | $688 | $750 |
| $30,000 | $700 | $825 | $900 |
| $35,000 | $817 | $963 | $1,050 |
| $40,000 | $933 | $1,100 | $1,200 |
| $45,000 | $1,050 | $1,238 | $1,350 |
| $50,000 | $1,167 | $1,375 | $1,500 |
| $55,000 | $1,283 | $1,513 | $1,650 |
| $60,000 | $1,400 | $1,650 | $1,800 |
| $65,000 | $1,517 | $1,788 | $1,950 |
| $70,000 | $1,633 | $1,925 | $2,100 |
| $75,000 | $1,750 | $2,063 | $2,250 |
| $80,000 | $1,867 | $2,200 | $2,400 |
| $85,000 | $1,983 | $2,338 | $2,550 |
| $90,000 | $2,100 | $2,475 | $2,700 |
| $95,000 | $2,217 | $2,613 | $2,850 |
| $100,000 | $2,333 | $2,750 | $3,000 |
| $105,000 | $2,450 | $2,888 | $3,150 |
| $110,000 | $2,567 | $3,025 | $3,300 |
| $115,000 | $2,683 | $3,163 | $3,450 |
| $120,000 | $2,800 | $3,300 | $3,600 |
| $125,000 | $2,917 | $3,438 | $3,750 |
| $130,000 | $3,033 | $3,575 | $3,900 |
| $135,000 | $3,150 | $3,713 | $4,050 |
| $140,000 | $3,267 | $3,850 | $4,200 |
| $145,000 | $3,383 | $3,988 | $4,350 |
| $150,000 | $3,500 | $4,125 | $4,500 |
| $155,000 | $3,617 | $4,263 | $4,650 |
| $160,000 | $3,733 | $4,400 | $4,800 |
| $165,000 | $3,850 | $4,538 | $4,950 |
| $170,000 | $3,967 | $4,675 | $5,100 |
| $175,000 | $4,083 | $4,813 | $5,250 |
| $180,000 | $4,200 | $4,950 | $5,400 |
| $185,000 | $4,317 | $5,088 | $5,550 |
| $190,000 | $4,433 | $5,225 | $5,700 |
| $195,000 | $4,550 | $5,363 | $5,850 |
| $200,000 | $4,667 | $5,500 | $6,000 |
| $205,000 | $4,783 | $5,638 | $6,150 |
| $210,000 | $4,900 | $5,775 | $6,300 |
| $215,000 | $5,017 | $5,913 | $6,450 |
| $220,000 | $5,133 | $6,050 | $6,600 |
| $225,000 | $5,250 | $6,188 | $6,750 |
| $230,000 | $5,367 | $6,325 | $6,900 |
| $235,000 | $5,483 | $6,463 | $7,050 |
| $240,000 | $5,600 | $6,600 | $7,200 |
| $245,000 | $5,717 | $6,738 | $7,350 |
| $250,000 | $5,833 | $6,875 | $7,500 |
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