3X Rent Calculator

The 3X Rent Calculator helps users determine their maximum affordable monthly rent by considering gross income, additional income, and existing debt, while also calculating the debt-to-income ratio.

Use Our 3X Rent Calculator

Using the 3X Rent Calculator

This 3X Rent Calculator is a helpful tool designed to estimate the maximum monthly rent you can afford. Follow the steps below to use the calculator effectively.

Step 1: Enter Your Monthly Gross Income

Monthly Gross Income ($): First, locate the input field labeled “Monthly Gross Income ($).” Enter your total monthly earnings before taxes. Ensure that the amount is a positive number. This input is required, so it must be filled out to proceed with the calculation.

Step 2: Enter Any Additional Monthly Income

Additional Monthly Income ($): Next, in the field labeled “Additional Monthly Income ($),” enter any other regular monthly income you might receive. This could include income from secondary jobs, bonuses, or other sources. This field is optional, so it may be left blank if not applicable.

Step 3: Enter Your Monthly Debt Payments

Monthly Debt Payments ($): Finally, in the field labeled “Monthly Debt Payments ($),” provide the total amount you pay every month towards debts. This includes payments for loans, credit cards, or other financial obligations. This input is required, so make sure to provide an accurate amount.

Understanding the Results

  • Total Monthly Income: This result will display your total monthly income, calculated by summing your monthly gross income and any additional income. The amount will be presented in USD currency format.
  • Maximum Monthly Rent (3X Rule): This figure shows the highest rent you should consider, following the 3X rule, which is one-third of your total monthly income.
  • Maximum Monthly Rent (Accounting for Debt): This value considers your monthly debt, deducting it from the maximum rent you can afford, resulting in a more tailored suggestion.
  • Debt-to-Income Ratio: This percentage indicates the proportion of your total income that goes toward debt payments, providing insight into your financial health.

Review these results carefully to determine an affordable rent range and consider adjustments in your budget if necessary.