# How Much Rent Can You Afford On 60K

Rent to Income. Landlords typically require that your annual income is at least 40 times the monthly rent. For example, if you and your roommate are looking at an apartment that costs \$3,000 per month, the landlord would require a combined income of \$3,000 40, which equals \$120,000. To determine how much rent you (and your potential roommates).

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Knowing how much you can afford is essential. A simple rule of thumb is you shouldn’t spend more than 1/3 of your after tax salary on rent. As an example, your annual salary is 50K that leaves you with \$4,166/month. After taxes, you should have around \$3,270. One third of 3270 is about \$980, and that’s what your monthly rent should be on 50K a year.

While you shouldn’t necessarily spend this much on rent, you will at least know your rental limits by doing some quick calculations. For example: If you earn \$4,000 a month, you qualify for a \$1,333 rent payment. If you earn \$3,000 a month, you qualify for a \$1,000 rent payment.

I make \$65k salary. What’s a realistic house price range for me? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

How Much House Can I Afford? | Home Affordability Calculator – In order to determine how much you can afford to pay each month, we start by looking at how much you earn (salary, wages, tips, commission, etc.) each year before taxes. This should be the combined income for people searching for a home together.

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Savings, debt and other. expenses could impact the amount you want to spend on rent each month. Input your net (after tax) income and the calculator will display rentals up to 40% of your estimated gross income.

Congratulations. You’ve landed a new job with an annual salary of \$100,000 and you’re going apartment hunting. Your first question is probably: "How much rent can I afford to pay?" That.