Renter tools
How much rent can you afford?
Two quick tests landlords and budget planners use, side by side.
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$
Optional. Used only for the debt-aware figure.
Rent that fits
$2,250/mo
The lower of the two common tests below.
30% of income$2,250 a month
40x rent test$2,250 a month (income ÷ 40)
With your debts$2,700 a month (36% of income minus debts)
How the tests work
The 30 percent rule is a budgeting guideline: keep rent at or under 30 percent of your gross monthly income. The 40x test is a screening rule many apartment buildings use: your yearly income should be at least 40 times the monthly rent, which works out to 30 percent. Some buildings use other multiples or count guarantors and savings, so ask the leasing office for its exact standard.
Rent is only part of the monthly cost. Parking, pet rent and amenity fees add up, so run your numbers through the move-in cost calculator before you apply.