Financial planning
Can You Afford This Rent?
Use the 30% rule to find your safe rent limit. See if your target rent is affordable, and compare how your salary stacks up across major US cities.
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Understanding rent affordability
What is the 30% rule?
Financial experts recommend spending no more than 30% of your gross monthly income on housing. This rule protects your budget for other essentials: food, transportation, insurance, savings, and emergencies. If rent exceeds 30%, you risk financial strain.
What if my rent exceeds 30%?
You have three options: (1) find a cheaper apartment, (2) negotiate a lower rent, or (3) increase your income. High rent leaves little room for savings or unexpected costs. Many renters in expensive cities live between 30–35%, but this requires careful budgeting.
How is monthly gross calculated?
Gross income is your salary before taxes and deductions. We divide your annual salary by 12 to get your monthly gross. The 30% rule applies to gross income, not take-home pay, because gross income gives a consistent baseline across different tax situations.
What expenses should I include?
Include utilities, groceries, transportation, insurance, subscriptions, and phone bills. Exclude rent and debt payments (track debt separately). This helps you see what's left after fixed costs and whether you can comfortably pay both rent and other essentials.