Rent Calculator Estimate affordable rent, compare renting vs. buying, split costs with roommates, and plan move-in expens...
Rent Calculator
Estimate affordable rent, compare renting vs. buying, split costs with roommates, and plan move-in expenses — with real 2025 benchmarks.
30% Rule (Simplified)**:
- Rent ≤ 30% of *gross* income
- $60K/year → $1,500/mo max rent
50/30/20 Budget (Better)**:
- 50% Needs (rent, food, transport)
- 30% Wants (dining, entertainment)
- 20% Savings/Debt
DTI-Adjusted (Most Realistic)**:
$$\text{Max Rent} = \text{Take-Home} - \text{Debt} - \text{Savings} - \text{Other Needs}$$
Example: $4,000 net, $300 debt, $500 savings, $800 food/transport → **$2,400 max rent**
✅ Pro Tip**: In high-cost cities (SF, NYC), 40–50% on rent is common — adjust savings, not survival.
⚠️ Avoid these costly mistakes:
- “First Month Free”** — rent inflated 8% to compensate
- Non-refundable “cleaning fee”** — illegal in CA, NY, TX
- No written lease** — oral agreements unenforceable for >1 year
- Upfront pet “deposit” >1 month** — must be refundable (CA law)
✅ Renter’s Rights Checklist**:
- Deposit returned in 21 days (CA), 30 days (most states)
- Landlord must fix heat, plumbing, pests within 48–72 hrs
- No “retaliation” for repair requests (rent hike, eviction)
- Right to withhold rent if uninhabitable (follow state procedure)
| City | 1-Bed Avg. | Move-In Cost | % Income (Median) |
|---|---|---|---|
| National Avg | $1,975 | $5,925 | 32% |
| New York | $4,200 | $16,800 | 55% |
| Austin | $1,750 | $5,250 | 38% |
| Atlanta | $1,550 | $4,650 | 29% |
📉 Move-In Cost Breakdown** (2-bed, $2,400/mo):
- First Month: $2,400
- Last Month: $2,400
- Security Deposit: $2,400
- Broker (NYC): $2,400
- Total: $9,600**
➡️ Affordability
“With $4K net and $500 savings goal, how much rent can I afford?”
➡️ Rent vs. Buy
“Is $2,000/mo rent better than a $400K mortgage?” — 5-year TCO comparison.
➡️ Roommate Split
Split $2,400 + $200 utilities fairly — even with uneven rooms.
➡️ Move-In Costs
Estimate total upfront: deposit, broker, first/last month.
Note: Uses 2025 median rent data (Apartment List), state deposit laws, and utility averages.