With a housing crisis looming and rent costs skyrocketing across the country, figuring out how much you can afford to spend on monthly rent is the first step in your renter journey. Whether you're moving into your first spot or changing apartments, it's something every resident must consider before searching for their dream home.
Here are a few things to consider:
Think about additional costs with a move, too:
Here are a few tried and true methods you can use to calculate:
If you're still unsure based on the tips above, RentCafe has a helpful affordability calculator that allows you to change the percentage of your income you want to spend on housing. As always, talk to your home provider about how much they typically increase rent year-over-year before signing your lease—that way, you can prepare yourself to settle in and anticipate future costs, as well.