Calculate rent affordability, move-in costs, and total monthly housing expenses. See if your rent fits within the 30% rule.
Total Monthly Housing
$1,670
Rent + utilities + insurance
Move-In Costs
$3,050
Deposit + first month + fees
Rent as % of Income
30.0%
Within budget
Max Affordable (30% rule)
$1,500
$0 under budget
Money Left After Rent
$3,330
For other expenses
| Year | Monthly Rent | Annual Rent |
|---|---|---|
| Year 1 | $1,500 | $18,000 |
| Year 2 | $1,545 | $18,540 |
| Year 3 | $1,591 | $19,096 |
| Year 4 | $1,639 | $19,669 |
| Year 5 | $1,688 | $20,259 |
Total Monthly Housing
$1,670
Rent + utilities + insurance
Move-In Costs
$3,050
Deposit + first month + fees
See how rent affects your affordability
2 insights based on your inputs
30% meets the 30% rule. You should still have money for other needs.
Ask about: waived application fees, reduced security deposit, free parking, or rent concession. Landlords often negotiate, especially in slower markets.
Explore other tools that might help
The 30% rule suggests spending no more than 30% of gross income on rent. If you earn 60,000/year (5,000/month), affordable rent is $1,500. Include utilities in this calculation for accurate budgeting.
The traditional rule is to spend no more than 30% of your gross monthly income on rent. Some experts suggest 25% for more financial flexibility. If you earn $5,000/month, aim for $1,250-$1,500 rent. Consider total housing costs including utilities and insurance.
Move-in costs typically include: first month's rent, security deposit (usually 1-2 months rent), last month's rent (sometimes), application fees ($25-75), and potentially pet deposits or fees. Total move-in costs can be 2-4 times monthly rent.
A security deposit is a refundable payment held by the landlord to cover potential damages beyond normal wear and tear or unpaid rent. It's typically 1-2 months rent and is returned (minus deductions) when you move out if the property is in good condition.
Utility costs vary by location, apartment size, and usage. Average monthly costs: electricity $50-150, gas $30-100, water/sewer $20-50, internet $50-100, trash $15-40. For a 1-bedroom apartment, budget $150-300/month total for utilities.
Renters insurance is highly recommended and often required by landlords. It covers your personal belongings against theft, fire, and other disasters. It also provides liability protection if someone is injured in your apartment. Cost is typically $15-30/month.
Total Monthly Housing
$1,670
Rent + utilities + insurance
Move-In Costs
$3,050
Deposit + first month + fees