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Rent Affordability Calculator

The rent your income supports under the 30% guideline, what a given rent takes of your pay, and the income landlords often ask for, with median rents in large metro areas.

On $80,000 a year, 30% of income is $2,000 a month for rent. A $1,800 rent takes 27.0% of gross income; many landlords want income of 40 times the rent, $72,000.

Rent you can afford
$2,000 a month
That rent takes
27.0% of income
Income a landlord may ask for (40× rent)
$72,000

Median rent and the income it needs in the largest metro areas (American Community Survey 2020–2024 5-year estimates)

Metro areaMedian rentIncome for 30%Median household income
New York, NY$1,830$73,200$99,155
Los Angeles, CA$2,063$82,520$95,958
Chicago, IL$1,430$57,200$90,887
Dallas, TX$1,614$64,560$90,275
Houston, TX$1,430$57,200$82,168
Washington, DC$2,027$81,080$126,684
Philadelphia, PA$1,480$59,200$91,289
Atlanta, GA$1,672$66,880$89,724
Miami, FL$1,869$74,760$76,527
Phoenix, AZ$1,702$68,080$88,301
Boston, MA$2,023$80,920$115,863
Riverside, CA$1,846$73,840$89,662

How this calculator works

The affordable rent is 30% of gross monthly income (or the share you choose), lowered if rent plus other debt payments would pass 43% of income. Landlords often ask for gross income of 40 times the monthly rent.

What it assumes

  • Gross rent here means rent plus utilities; budget for renter's insurance and fees too.

Questions people ask

How much rent can I afford?

About 30% of gross income: $2,000 a month on $80,000 a year. Lower it if you have large debt payments or want to save more.

What is the 40x rent rule?

Many landlords require gross yearly income of at least 40 times the monthly rent: $72,000 for a $1,800 apartment. Some accept a guarantor instead.

What counts as rent-burdened?

HUD calls households paying more than 30% of income for housing cost-burdened, and more than 50% severely cost-burdened.

Where is rent cheapest relative to income?

Among large metros, by median rent against median income: Cedar Rapids, IA (14%), Sioux Falls, SD (15%), Fargo, ND (15%).

Rent by metro area

Related calculators

  • Rent vs Buy CalculatorWhether buying or renting leaves you better off after the years you plan to stay, counting mortgage interest, tax, upkeep, selling costs and what a renter earns investing the down payment.
  • Cost of Living CalculatorWhat salary in another city gives you the same standard of living, from the Bureau of Economic Analysis's 2024 price levels for 193 metro areas.
  • Paycheck CalculatorWhat you take home from each paycheck after federal income tax, Social Security, Medicare and state income tax, with 2026 tax rates for every state.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.

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