Rent Calculator
Standard advice is 30% of income.
How Much Rent Can You Afford?
The 30% Rule is a common benchmark for housing affordability. It suggests that you should spend no more than 30% of your gross monthly income on rent and utilities.
Why use this calculator?
- Financial Stability: Ensures you have enough left for savings and food.
- Realistic Planning: Helps you filter apartments within your budget.
- Debt Prevention: Prevents overextending your finances on luxury housing.
Note: Depending on your location (like NYC or London), you might need to adjust this to 40% or 50%, but try to keep it as low as possible.