OneTaskBy Tim King · Updated
Rent Affordability Calculator
How Much Rent Can I Afford on the 30 Percent Rule of Income
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How the Rent Affordability Calculator works
This rent affordability calculator answers "how much rent can I afford?" using the share of income rule. Enter your income, weekly, fortnightly, monthly or yearly, and the share you want to put towards rent. Add a weekly rent to see what share of your income it would take and the income that rent needs.
Rent affordability calculator formula
Affordable rent is a share of gross income:
Weekly rent = yearly income × share ÷ 100 ÷ 52 Share for a rent = weekly rent × 52 ÷ yearly income × 100 Income needed = weekly rent × 52 ÷ share × 100
30% of gross income is the most common rule of thumb, and spending more than that is often described as rental stress. Landlords and agents may use their own ratio.
Worked example: a yearly salary
On 90,000 a year at 30%, the rent budget is 27,000 a year, 2,250 a month or 519 a week. A 600-a-week rental would take 34.7% of income, and would need 104,000 a year to stay within 30%.
Worked example: fortnightly pay
Someone paid 3,000 a fortnight earns 78,000 a year. At 30% that is 450 a week, 1,950 a month or 23,400 a year.
Rent affordability reference table
Affordable weekly rent at 25% and 30% of income, and monthly rent at 30%.
| Yearly income | Weekly at 25% | Weekly at 30% | Monthly at 30% |
|---|---|---|---|
| 30,000 | 144 | 173 | 750 |
| 40,000 | 192 | 231 | 1,000 |
| 50,000 | 240 | 288 | 1,250 |
| 60,000 | 288 | 346 | 1,500 |
| 70,000 | 337 | 404 | 1,750 |
| 80,000 | 385 | 462 | 2,000 |
| 90,000 | 433 | 519 | 2,250 |
| 100,000 | 481 | 577 | 2,500 |
| 110,000 | 529 | 635 | 2,750 |
| 120,000 | 577 | 692 | 3,000 |
| 130,000 | 625 | 750 | 3,250 |
| 140,000 | 673 | 808 | 3,500 |
| 150,000 | 721 | 865 | 3,750 |
| 160,000 | 769 | 923 | 4,000 |
| 170,000 | 817 | 981 | 4,250 |
| 180,000 | 865 | 1,038 | 4,500 |
| 190,000 | 913 | 1,096 | 4,750 |
| 200,000 | 962 | 1,154 | 5,000 |
| 210,000 | 1,010 | 1,212 | 5,250 |
| 220,000 | 1,058 | 1,269 | 5,500 |
Quick answers
- 30% of 60,000 is 346 a week.
- 30% of 100,000 is 577 a week.
- 500 a week needs 86,667 a year at 30%.
- Monthly rent is weekly rent × 52 ÷ 12, not × 4.
- Shared homes split the rent, so use your own share of it.
- At 30% of income, rent takes about a day and a half of how many days you work each week.
FAQ
How much rent can I afford on my salary?
A common guide is 30% of your gross income. Multiply your yearly income by 0.3 and divide by 52 for a weekly figure, or use the table above.
Should I use income before or after tax?
The 30% rule is normally applied to gross income, before tax. If you budget from take-home pay, a higher share may still be affordable, or a lower one may be safer, depending on your other costs.
Why is monthly rent not four times weekly rent?
There are 52 weeks in a year but only 48 in twelve four-week months. Multiplying by 52 and dividing by 12 gives the true monthly figure.
See also: all Property tools, Pay, Bills, Debt, Investing, Saving.
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