Rent Calculator

LEVEL 1: Living Frugally
(20% of your annual income)

For those of us that only use their apartment for sleeping and the occasional meal, this is your budget. 20% of your income will be going towards your rent, which will allow you to bank some cash for other bills or your savings.

NOTE: A great way to bring your rent down to this level is living with a roommate and splitting the rent.

LEVEL 2: Living Comfortably
(30% of your annual income)

Want to have some leftover dough each month, but also cherish time spent in your apartment? This rent amount is a great middle ground. You should still be able to pocket some cash while living comfortably.

NOTE: The U.S. Department of Housing and Urban Development suggests that renters should spend no more than 30% of their gross income in rent and utilities.

LEVEL 3: Living it Up
(40% of your annual income)

If having a nice apartment is important to you and you're a good budgeter, this is your magic number. However, keep in mind that some landlords may not feel comfortable renting to a tenant that spends more than 30% of their income on rent. You also may have to sacrifice other creature comforts like eating out or online shopping.