Based on the criteria you provided, your monthly rent budget is:$1,500 / month
Use these guidelines to help you with your budget decisions. If your rent payment is greater than your living expenses guideline, you may want to look for an apartment with a lower monthly payment.
How much you should spend on rent depends on many factors including your income, the area you're renting in, and if you're sharing expenses. Your net monthly income (your take-home pay) should add up to 30-40 percent of your monthly rent.
Financial experts recommend the 50/30/20 rule when it comes for budgeting. This approach recommends that 50 percent of your income goes towards living expenses, 30 percent to daily expenses, and 20 percent goes towards savings. When you enter your monthly income, this tool will calculate your 50/30/20 budget.
Our rent calculator will help determine your rent budget as well as other expenses. Enter your net monthly income into the box. Then, use the slider on the right to see what different percentages of rent will look like for your income.