How much rent can you afford?

It depends on how much dough you're bringing in


How much do you earn each year? (before taxes)

$

Low End 20%

Middle of the Road 30%

High End 40%

 

 

 

You live more outside of your apartment than in it. You like to go to shows, you spend time at friends’ places, and you eat out a lot. Spending 20% of your gross income on rent will likely allow you to save some money. For your income, this is a below average amount to spend on rent. Remember that this does not take into account any other debts you may have. This is just a suggestion.

You don't want to be cramped, and you want money left over every month. You strike a balance between being home and going out. 30% is the recommended amount of gross income to spend on rent. Remember that this does not take into account any other debts you may have. This is just a suggestion.

A nice home is very important to you. You are willing to live on a steady diet of ramen noodles to live in a sweet place. Some landlords will not even consider you as a potential tenant if your rent is more than 40% of your gross income. Remember that this does not take into account any other debts you may have. This is just a suggestion.