Taking the hassle out of renting.
From searching for the perfect apartment to making it your own, every step of the apartment-hunting journey brings anticipation and the thrill of creating a space that reflects your unique personality and aspirations.
When determining the apartment that’s the right fit for your lifestyle and preferences, understanding what you can afford is a huge first step. This is overwhelming when considering all the financial factors of how much you make, how much you want to save, your debts and your desired city’s cost of living.
Remove the complication of calculating
The Rent Calculator is your one-stop place for determining the best apartment, all factors considered.
- Determine the location of where you’re apartment hunting.
- Enter your ideal number of beds
- Put in your pre-tax income
- Calculate your monthly expenses or a rough estimate
After you enter this information the Rent Calculator will calculate options for you based on spending 30 percent of your income. The calculator pulls three options for you, where you can explore apartments where you’d live on a budget, live comfortably and live luxuriously. It’s up to you, depending on your style, saving method and desired amenities what apartment category is the best fit for you.
Salary and rent affordability examples
50k salary
On $50,000 a year, you’re making $4,167 gross per month. Taking 30 percent of that, you are able to afford up to $1,250 per month in rent.
75k salary
On $75,000 a year, you’re making $6,250 gross per month. Taking 30 percent of that, you are able to afford up to $1,875 per month in rent.
100k salary
On $100,000 a year, you’re making $8,333 gross per month. Taking 30 percent of that, you are able to afford up to $2,500 per month in rent.
125k salary
On $125,000 a year, you’re making $10,417 gross per month. Taking 30 percent of that, you are able to afford up to $3,125 per month in rent.
Fun facts about rent
Learn a little more about who’s renting. How old are they? Do they room up with anyone? See where you fall into the statistics.
What does the average person spend on rent?
While rent prices in the U.S. vary greatly by region, the national median rent as of December 2022 was $2,007.
Many people choose to live with roommates to save money on rent. However, if you choose to live with others, it’s important to be clear on how much rent each roommate will be paying.
What percentage of people have a roommate?
Nearly half of renters are rooming with someone. Most renters in one of our conducted surveys (49.8 percent) lived with one roommate. Another 24.8 percent lived in two-roommate households.
What is the average age and salary of renters?
The typical U.S. renter is 39 years old, has never been married, with at least four years of college education and has a median annual income of $42,500.
Renting made easy
This rent calculator removes the overwhelming calculations, thoughts and considerations that fill a renter’s head when apartment hunting. In simplifying this process by swiftly providing accurate and tailored rent estimates, the burden on renters disappears and allows them to make informed decisions with ease. Find your dream apartment today!
*Disclaimer: This calculator displays an approximation of how much rent you can afford based on your location, income and debt. Real numbers may vary based on your lifestyle and fixed expenses.
Source: rent.com