Use our Rent to Income Ratio Calculator to quickly assess your housing affordability. Input your gross monthly income and desired rent to calculate your rent-to-income percentage, helping you budget wisely and understand if you meet the 28% or 30% rule for financial health.
Formula:
Rent to Income Ratio (%) = (Monthly Rent / Gross Monthly Income) * 100
Where:
- Monthly Rent: Your total rent payment per month.
- Gross Monthly Income: Your total income before taxes and deductions, per month.