Renter's Worksheet

How Much Rent Can You Afford?

The recommended rule is to budget 25% - 30% of your gross income for rent. Your lifestyle and liabilities determine where you fall within this range. Generally, you should use 28% as a guide. Use this formula to calculate your monthly target rent.

		Yearly Gross Income	$_________________
		Divide by 12		$_________________
		Multiply by .28	$_________________
		
		= Target Rent	$ __________________

Estimate Your Other Monthly Costs….

		Gas and Electric	$_________________
		Other Loan Payment	$_________________
		Telephone		$_________________
		Credit Card Payment	$_________________
		Cable TV/Satellite	$_________________
		Medical Expenses	$_________________
		Food		$_________________
		Transportation	$_________________
		Car Loan & Maintenance	$_________________
		Miscellaneous	$_________________


			TOTAL	$___________________