Rent Affordability Calculator - How Much Can I Afford?
Calculate how much rent you can afford based on your income and expenses. Use this tool to find a sustainable rent range and make informed decisions.
How Much Rent Can I Afford?
Frequently Asked Questions
What is the 50/30/20 rule?
The 50/30/20 rule divides your monthly net income into three categories: 50% for needs (including rent), 30% for wants, and 20% for savings or debt repayment. This rule helps you manage your finances effectively. Learn more on the Consumer Financial Protection Bureau website.
What is a safe rent range?
A safe rent range is typically 25-30% of your monthly income after expenses. This ensures you have enough money left for other necessities and savings.
What happens if I spend more than 30% of my income on rent?
Spending more than 30% of your income on rent can limit your ability to save or cover other expenses. It's considered an aggressive approach and may lead to financial stress.
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