The following calculator provides a range of monthly housing costs that may fit your budget, based on the federal government’s guidelines for housing affordability. Savings, debt and other expenses could impact the amount you want to spend on rent each month. Input the total net (after tax) monthly income from all sources and all individuals in your household age 18 and older, and the calculator will show a range of 25% to 33% of your income.
Disclaimer: This calculator is only meant to provide a starting point for making housing decisions. All factors (including debt, personal needs and financial goals) should be considered before agreeing to sign a lease.