{
  "id": "rent",
  "version": "7bf80fdad6a3",
  "status": "published",
  "name": "Rent Calculator",
  "question": "What income do I need for this rent?",
  "summary": "Computes the income a rent needs, the rent an income supports, or the share of income a rent takes (fill any two), with the 40x income rule and the 30% rent rule.",
  "category": "finance",
  "subcategory": "mortgage-and-real-estate",
  "url": "https://www.acalculator.org/finance/rent-calculator",
  "markdown": "https://www.acalculator.org/finance/rent-calculator.md",
  "kind": "formulas",
  "method": "rent = income ÷ 12 × share ÷ 100; the 40x rule asks for a yearly income of 40 × the monthly rent; the 30% rule allows a rent of 30% of the monthly income.",
  "assumptions": [
    "Income is gross (before tax) and the share is of the gross monthly income, as HUD and most landlords count it.",
    "Rent is the monthly rent alone; utilities and fees are not included unless you add them to it.",
    "The 30% rule and the 40x rule are rules of thumb, not laws; landlords and programs set their own limits."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "rent": {
        "title": "Rent",
        "description": "The rent, per month (or per year with the switch).",
        "type": "number",
        "x-unit": "USD",
        "x-period": "month",
        "exclusiveMinimum": 0,
        "maximum": 10000000
      },
      "income": {
        "title": "Gross income",
        "description": "Income before tax, per year (or per month with the switch), of everyone who will pay the rent.",
        "type": "number",
        "x-unit": "USD",
        "x-period": "year",
        "exclusiveMinimum": 0,
        "maximum": 1000000000
      },
      "share": {
        "title": "Rent as a share of income",
        "description": "The rent as a percent of the gross monthly income.",
        "type": "number",
        "x-unit": "percent",
        "exclusiveMinimum": 0,
        "maximum": 100
      }
    }
  },
  "solve": {
    "fillAny": 2,
    "variables": [
      "rent",
      "income",
      "share"
    ],
    "inputsOnly": []
  },
  "outputs": {
    "rent": {
      "label": "Rent",
      "description": "The rent, per month (or per year with the switch).",
      "format": "money"
    },
    "income": {
      "label": "Gross income",
      "description": "Income before tax, per year (or per month with the switch), of everyone who will pay the rent.",
      "format": "money"
    },
    "share": {
      "label": "Rent as a share of income",
      "description": "The rent as a percent of the gross monthly income.",
      "format": "percent"
    },
    "need40x": {
      "label": "Income the 40x rule asks for",
      "description": "The yearly gross income many landlords ask for: 40 times the monthly rent.",
      "format": "money"
    },
    "rent30": {
      "label": "Rent the 30% rule allows",
      "description": "The monthly rent that is 30% of the gross monthly income (the same as the yearly income ÷ 40).",
      "format": "money"
    },
    "yearlyRent": {
      "label": "Rent per year",
      "description": "The monthly rent times 12.",
      "format": "money"
    },
    "monthlyIncome": {
      "label": "Gross income per month",
      "description": "The yearly income ÷ 12.",
      "format": "money"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "rent": 1800,
      "income": 75000
    },
    "outputs": {
      "share": 28.8,
      "need40x": 72000,
      "rent30": 1875,
      "yearlyRent": 21600,
      "monthlyIncome": 6250
    },
    "text": "A rent of $1,800.00 a month on a gross income of $75,000.00 a year is 28.8% of income."
  },
  "examples": [
    {
      "given": {
        "rent": 1800,
        "income": 75000
      },
      "expect": {
        "share": 28.8,
        "need40x": 72000,
        "rent30": 1875,
        "yearlyRent": 21600,
        "monthlyIncome": 6250
      },
      "source": "hand calculation in content.mdx: 1,800 ÷ 6,250 = 28.8%; HUD User, Rental Burdens: Rethinking Affordability Measures (the 30% of income standard). https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_092214.html"
    },
    {
      "given": {
        "rent": 2500,
        "share": 30
      },
      "expect": {
        "income": 100000,
        "need40x": 100000
      },
      "source": "hand calculation in content.mdx: 2,500 ÷ 0.30 × 12 = 100,000, the same as 40 × 2,500; HUD User, Rental Burdens: Rethinking Affordability Measures (the 30% of income standard). https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_092214.html"
    },
    {
      "given": {
        "income": 52000,
        "share": 25
      },
      "expect": {
        "rent": 1083.3333333333333,
        "rent30": 1300
      },
      "source": "hand calculation in content.mdx: 52,000 ÷ 12 × 0.25; HUD User, Rental Burdens: Rethinking Affordability Measures (the 30% of income standard). https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_092214.html"
    }
  ],
  "sources": [
    "U.S. Department of Housing and Urban Development, HUD User, Rental Burdens: Rethinking Affordability Measures (the 30% of income standard; cost-burdened and severely cost-burdened households). https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_092214.html",
    "StreetEasy, How much rent can you afford? (the 40x income rule many New York landlords use). https://streeteasy.com/blog/how-much-rent-can-i-afford-in-nyc/"
  ],
  "related": [
    "rent-affordability",
    "prorated-rent",
    "rent-vs-buy",
    "rental-property"
  ],
  "changelog": []
}