This calculator finds your monthly rent budget based on your monthly income (after tax) and how much of your monthly income you’d like to spend on rent.
For example, suppose you earn $4,000 after tax each month and you would like to spend 30% of your after-tax income on rent. Then your monthly rent budget would be $4,500 * 30% = $1,350.
As a rule of thumb, most financial advisors recommend that you spend no more than 30% of your after-tax income on rent. You can choose to spend whatever percentage you would like, though. This calculator lets you specify the exact percentage of your after-tax income you’d like to spend on rent.
To calculate your monthly rent budget, simply fill in the values below and then click the “Calculate” button.
Zach is the author behind Four Pillar Freedom, a blog that teaches you how to build wealth and gain freedom in life.
He quit his day job as a data scientist in 2019 because he was able to earn enough income from profitable websites to replace his salary. He now teaches people how to start and grow their own profitable websites from scratch in the Income Community.
Zach's favorite free financial tool he's been using since 2015 to manage his net worth is Personal Capital. Each month he uses their free Investment Checkup tool and Retirement Planner to track his investments and ensure that he's on the fast track to financial freedom.
His favorite investment platform is M1 Finance, a site that allows him to build a custom portfolio of stocks for free, has no trading or maintenance fees, and even allows him to set up automated target-allocated investments.