Rent Calculator

The U.S. Department of Housing and Urban Development (HUD) recommends that you should pay no more than 30 percent of your annual income on housing. However, an estimated 12 million renters and homeowners now pay more than 50 percent of their annual incomes on housing. How much are you spending?

Why Does it Matter?

Spending more than 30 percent of your income on housing makes it more difficult to afford necessities such as food, transportation and health care. To live in a budget with higher housing costs, you will need to cut unnecessary expenses.

Now that you know your rent goals, find housing that you can afford.

Tags: rent calculator, how much to spend on rent