Rent Calculator

As mentioned above, our rent calculator uses the 30% rule as a starting point to calculate your ideal rent. The percentage of your income going towards rent will largely depend on your situation. Here are a few things to consider:

1. Your Location: Living in an expensive and competitive city? Or maybe your income is high you may need to go over the 30% to rent an apartment that fits all of your needs.
2. Your Budget: Looking for luxury apartments with all the amenities? Or prefer saving as much as possible?
3. Additional Costs: Consider things like the security deposit, apartment application fee, and the cost of utilities when budgeting for an apartment.

The percentage of income that should go to rent largely depends on your personal situation. Consider all of the factors to determine your ideal rent price.

Need a quick and easy look into how much rent you can afford? Here’s an idea of the ideal rent for various salaries, based on the 30% rule.

• On a $30,000 a year salary, your ideal rent price is $750.
• On a $40,000 a year salary, your ideal rent price is $1,000.
• On a $50,000 a year salary, your ideal rent price is $1,250
• On a $75,000 a year salary, your ideal rent price is $1,875
• On a $100,000 a year salary, your ideal rent price is $2,500

As mentioned before, the 30% rule should act as a rule of thumb. Use the slider on our rent calculator to see how your rent payments change with different percentages of your income.

Debating between a traditional 12-month lease or a short-term lease? While a short-term or month-to-month lease offers more flexibility, they’ll typically be much more expensive than a year lease.

1. 12-Month Leases: A one-year lease is the most common lease term, and will usually be the most cost-effective option.
2. Short-Term Leases: Short-term leases can vary, but 3-month and 6-month are the most common short-term leases. The monthly rent will be more expensive than a 12-month, but the leases come with flexibility.
3. Month-to-Month Leases: A month-to-month lease is the most flexible and expensive option. However, it’s ideal for someone whose personal situation doesn’t allow them to commit to a long-term location.

Keep in mind, not all apartment complexes offer short-term or month-to-month lease options. Whatever lease you choose, make sure to understand the pros and cons of each option.

Our rent calculator is designed to help renters calculate how much rent they can afford. To find out a renter’s ideal rent price, we consider three factors:

• The city you wish to rent in
• How many bedrooms you are looking for
• Your monthly gross income (before taxes)

After plugging in your information, we’ll show you your ideal rent based on the common “30% rule”. The 30% rule of thumb says that people should spend no more than 30% of their income on housing costs.

However, the 30% rule doesn’t work for everyone. For example, if you are living in a pricey market like San Francisco or New York, you may need to contribute more than 30%. On the other hand, if you have strong savings goals, 30% may be well over budget.

We’ll start by showing you the 30% rent price based on your information. From there, use the slider to see how different percentages of your income changes your rent!