Affordability is a primary concern of both renters and landlords. Take advantage of this great resource as you’re searching for apartments. See how much you can comfortably afford to pay for rent with our rent calculator.
“How much rent can I afford?” and “Is that out of my price range?” are two phrases we often hear from renters searching for apartments. Affordability is a primary consideration for any renter — it’s often at the top of the list!
Most landlords and property managers require that your monthly take-home income is at least three times the monthly rent, and if you have a roommate, half your income must be three times your portion of the rent. While this isn’t always the case, you’ll likely need to be able to prove you have this income before you can rent any apartment.
While you shouldn’t necessarily spend this much on rent, you will at least know your rental limits by doing some quick calculations. For example:
- If you earn $4,000 a month, you qualify for a $1,333 rent payment
- If you earn $3,000 a month, you qualify for a $1,000 rent payment
- If you earn $2,000 a month, you qualify for a $666 rent payment