How to use the Rent Calculator
The rent calculator estimates how much rent you can afford from your income and debts.
What you need to enter
- Monthly gross income ($)
- Monthly debt payments ($)
- Share of income for rent (%)
The formula
Affordable rent = monthly gross income × chosen share (often 30%). A stricter test caps rent so that rent plus debts stays within 40% of income.
Worked example
Using the default values in the calculator:
- Monthly gross income ($): 5000
- Monthly debt payments ($): 300
- Share of income for rent (%): 30
| Affordable rent (income rule) | $1,500.00 |
| After debts (40% DTI cap) | $1,500.00 |
| Needed income for $1,500 rent | $5,000.00 / month |
Tips for better results
- Leave room for utilities, renter's insurance and transport.
- Landlords often require income of about 3× the rent.
Common mistakes to avoid
- Using net income when a landlord uses gross income.
- Ignoring one-time costs like deposits.
Please note: Calculators and guides give general estimates, not financial, tax or investment advice. Real offers depend on your lender, location and personal situation. See our Disclaimer.