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Rent. Rents are usually quoted as either price per week (ppw) or price per calendar month (pcm). When switching between the two figures, it’s important to remember that the price per calendar month does not equal the same as four weeks’ worth of rent.
Rent Affordability Calculator. This calculator shows rentals that fit your budget. 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.
Free rent calculator to estimate the range of affordable monthly rent based on income and debt. Also, explore ideas for decreasing rental costs.
Calculate how much rent you can afford per month based on your annual income. Simply enter your annual salary before tax to find out.
For a more precise picture of how much rent you can afford, enter variables like your monthly expenses, savings, and debts. Adjust the slider between 20%-40% to see how different rent-to-income percentages change your budget and rental options.
Work out what you can afford. Start by drawing up a budget of everything you spend at the moment and everything you earn. Include bills, food and drink, going out and any debts you have. You can use the MoneyHelper budget planner to do this, and it will work out most of the maths for you.
To successfully pass referencing you will firstly need to meet the affordability criteria set. The calculation is normally that your monthly gross salary needs to be at least 2.5 times the monthly rent or thinking about it another way, your gross annual salary would need to be at 30 times the monthly rent.