How to work out how much rent you can afford
- Enter your Income before tax and whether it’s per year or per month. For a couple sharing the rent, add both incomes.
- For a second opinion, enter your Take-home pay and what you spend each month on other essentials.
- Read the rent the 30% rule allows, what passes a landlord’s 40× income check and, with take-home pay, what the 50/30/20 budget allows. The table shows rent at other shares of your income.
Rent is more than the rent
When you work out what you can afford, count the costs that come with a place: utilities if they aren’t included, renters’ insurance, parking, and the cost of getting to work. A cheaper flat further out can cost more once travel is added. Moving costs money too: a deposit (often one month’s rent or more), the first month’s rent up front and sometimes fees.
If the numbers don’t fit
- Share. Splitting a two-bedroom place often costs each person less than a one-bedroom alone.
- Look for what’s included. A rent that covers heating or internet can beat a cheaper one that doesn’t.
- Use a guarantor. If you can afford the rent but don’t pass a landlord’s income check, some landlords accept a guarantor with a higher income.
If you’re saving to buy instead, the house affordability calculator shows the price you could borrow for, and the savings goal calculator how long a deposit would take.