Rent Affordability Calculator (How Much Rent Can I Afford?)
How much rent can I afford? The maximum monthly rent from your income with the 30 % rule, plus the landlord’s 40× income test.
R = q · I12
How to use this calculator
- Choose the quantity you want under “Solve for”.
- Type the known values and pick their units: any combination works.
- The result updates as you type. Open “Show the steps” to see the substitution.
A common guideline is to spend no more than 30 % of gross income on rent. Many landlords require annual income of at least 40 times the monthly rent.
Formula
R = q · I12
| Symbol | Quantity | Units |
|---|---|---|
| I | Annual income | $, €, £ |
| q | Share of income for rent (30 % rule) | %, × |
| R | Maximum monthly rent | $, €, £ |
Worked example
Given: I = 60,000.00 $ · q = 30 %
R = q I12
Result: R = 1,500.00 $
Maximum monthly rent for different values of Annual income
| I · Annual income | R · Maximum monthly rent |
|---|---|
| 30,000.00 $ | 750.00 $ |
| 45,000.00 $ | 1,125.00 $ |
| 54,000.00 $ | 1,350.00 $ |
| 60,000.00 $ | 1,500.00 $ |
| 66,000.00 $ | 1,650.00 $ |
| 75,000.00 $ | 1,875.00 $ |
| 90,000.00 $ | 2,250.00 $ |
| 120,000.00 $ | 3,000.00 $ |
Other values as in the worked example.
Frequently asked questions
$60,000 a year?
$1,500 a month at 30 %; the 40× rule also gives $1,500.
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