Calculate your monthly income, determine your rent budget, and plan your expenses with ease using our Rent Calculator based on Hourly Wage.
This tool is designed to simplify budgeting for individuals earning hourly wages.
Rent Calculator Hourly Wage
How It Works
Step 1: Enter Your Hourly Wage
Begin by entering your hourly wage into the calculator. This is the amount you earn for each hour of work.
Step 2: Input Your Working Hours
Next, input the number of hours you work each day and the days you work each week. The calculator uses this information to estimate your monthly income.
Step 3: Get Your Budget Breakdown
Once you’ve entered your details, hit the calculate button. The tool will provide a detailed breakdown of your monthly budget. It follows the 30-50-20 rule, which suggests:
- Allocating 30% of your income to rent.
- Spending 50% on needs and wants.
- Saving the remaining 20% for the future.
Your Monthly Budget Breakdown
In this example, with an hourly wage of $17, working 8 hours per day for 5 days a week, the calculator estimates:
- Monthly Income: $2,720.00
- Rent Budget: $816.00
- Needs and Wants Budget: $1,360.00
- Savings: $544.00
Rent Chart Hourly Wage
| Hourly Wage | Monthly Income | Rent (30%) | Needs and Wants (50%) | Savings (20%) |
|---|---|---|---|---|
| $12.00 | $1,920.00 | $576.00 | $960.00 | $384.00 |
| $13.00 | $2,080.00 | $624.00 | $1,040.00 | $416.00 |
| $14.00 | $2,240.00 | $672.00 | $1,120.00 | $448.00 |
| $15.00 | $2,400.00 | $720.00 | $1,200.00 | $480.00 |
| $16.00 | $2,560.00 | $768.00 | $1,280.00 | $512.00 |
| $17.00 | $2,720.00 | $816.00 | $1,360.00 | $544.00 |
| $18.00 | $2,880.00 | $864.00 | $1,440.00 | $576.00 |
| $19.00 | $3,040.00 | $912.00 | $1,520.00 | $608.00 |
| $20.00 | $3,200.00 | $960.00 | $1,600.00 | $640.00 |
| $21.00 | $3,360.00 | $1,008.00 | $1,680.00 | $672.00 |
| $22.00 | $3,520.00 | $1,056.00 | $1,760.00 | $704.00 |
| $23.00 | $3,680.00 | $1,104.00 | $1,840.00 | $736.00 |
| $24.00 | $3,840.00 | $1,152.00 | $1,920.00 | $768.00 |
| $25.00 | $4,000.00 | $1,200.00 | $2,000.00 | $800.00 |
| $26.00 | $4,160.00 | $1,248.00 | $2,080.00 | $832.00 |
| $27.00 | $4,320.00 | $1,296.00 | $2,160.00 | $864.00 |
| $28.00 | $4,480.00 | $1,344.00 | $2,240.00 | $896.00 |
| $29.00 | $4,640.00 | $1,392.00 | $2,320.00 | $928.00 |
| $30.00 | $4,800.00 | $1,440.00 | $2,400.00 | $960.00 |
| $31.00 | $4,960.00 | $1,488.00 | $2,480.00 | $992.00 |
| $32.00 | $5,120.00 | $1,536.00 | $2,560.00 | $1,024.00 |
| $33.00 | $5,280.00 | $1,584.00 | $2,640.00 | $1,056.00 |
| $34.00 | $5,440.00 | $1,632.00 | $2,720.00 | $1,088.00 |
| $35.00 | $5,600.00 | $1,680.00 | $2,800.00 | $1,120.00 |
| $36.00 | $5,760.00 | $1,728.00 | $2,880.00 | $1,152.00 |
| $37.00 | $5,920.00 | $1,776.00 | $2,960.00 | $1,184.00 |
| $38.00 | $6,080.00 | $1,824.00 | $3,040.00 | $1,216.00 |
| $39.00 | $6,240.00 | $1,872.00 | $3,120.00 | $1,248.00 |
| $40.00 | $6,400.00 | $1,920.00 | $3,200.00 | $1,280.00 |
| $41.00 | $6,560.00 | $1,968.00 | $3,280.00 | $1,312.00 |
| $42.00 | $6,720.00 | $2,016.00 | $3,360.00 | $1,344.00 |
| $43.00 | $6,880.00 | $2,064.00 | $3,440.00 | $1,376.00 |
| $44.00 | $7,040.00 | $2,112.00 | $3,520.00 | $1,408.00 |
| $45.00 | $7,200.00 | $2,160.00 | $3,600.00 | $1,440.00 |
| $46.00 | $7,360.00 | $2,208.00 | $3,680.00 | $1,472.00 |
| $47.00 | $7,520.00 | $2,256.00 | $3,760.00 | $1,504.00 |
| $48.00 | $7,680.00 | $2,304.00 | $3,840.00 | $1,536.00 |
| $49.00 | $7,840.00 | $2,352.00 | $3,920.00 | $1,568.00 |
| $50.00 | $8,000.00 | $2,400.00 | $4,000.00 | $1,600.00 |
Factors Influencing Rent Affordability
Location
The location of a home greatly affects its rent. Places near the city center are expensive. Areas further away might be cheaper.
The surroundings matter too. Schools, parks, and shopping centers make a place costly. If you choose a home near these places, you’ll pay more.
Size and Type of Housing
The size and type of housing also play a part. A big house with many rooms costs more. A small apartment is less expensive.
If you need less space, look for smaller places. This way, you can save money on rent.
Utility Costs
Utility costs are next on the list. Some places include utilities in the rent. Others don’t. Utilities are things like water, electricity, and gas.
If utilities aren’t included, your rent might seem cheaper. But, you will need to pay for these separately.
Lease Length
The length of your lease can affect your rent. A longer lease might lower your monthly rent. It gives the landlord assurance.
They know you’ll stay and pay for a longer time. A shorter lease might mean a higher rent. This is because the landlord isn’t sure when they’ll get a new tenant.
Amenities
Amenities are special features a place has. Things like a swimming pool, gym, or laundry room.
Places with many amenities usually have higher rent. They offer more comfort and convenience. If you can live without certain amenities, look for simpler places.
Pet Policies
If you have pets, the pet policy is important. Some places charge extra if you have pets. This is known as a pet deposit.
It covers any damage your pet might cause. Other places might not allow pets at all.
Parking
Parking is a big deal, especially in crowded cities. If a place comes with a parking spot, it might be more expensive.
If you own a car, consider the cost of parking. Sometimes, you might have to rent a parking space separately.
Safety
Safety is a crucial factor. Safe neighborhoods often have higher rent. They provide peace of mind.
You might pay more, but you’ll worry less. Check the crime rate of an area before moving. It’s wise to invest in safety.
Public Transport
Access to public transport is a plus. It makes commuting easier. Places near bus stops or train stations often cost more.
Yet, they save you transportation costs. If you don’t own a car, consider living near public transport.
Upfront Costs
Upfront costs are the money you pay before moving in. This includes a security deposit and first month’s rent.
Sometimes it includes the last month’s rent too. These costs can add up. Ensure you have enough savings to cover them.
How Much Rent Can I Afford Making $15 An Hour
If you make $15 an hour, you can afford $720.00 on rent each month.
How Much Rent Can I Afford Making $16 An Hour
If you make $16 an hour, you can afford $768.00 on rent each month.
How Much Rent Can I Afford Making $17 An Hour
If you make $17 an hour, you can afford $816.00 on rent each month.
How Much Rent Can I Afford Making $18 An Hour
If you make $18 an hour, you can afford $864.00 on rent each month.
How Much Rent Can I Afford Making $19 An Hour
If you make $19 an hour, you can afford $912.00 on rent each month.
How Much Rent Can I Afford Making $20 An Hour
If you make $20 an hour, you can afford $960.00 on rent each month.
How Much Rent Can I Afford Making $21 An Hour
If you make $21 an hour, you can afford $1,008.00 on rent each month.
How Much Rent Can I Afford Making $22 An Hour
If you make $22 an hour, you can afford $1,056.00 on rent each month.
How Much Rent Can I Afford Making $23 An Hour
If you make $23 an hour, you can afford $1,104.00 on rent each month.
How Much Rent Can I Afford Making $24 An Hour
If you make $24 an hour, you can afford $1,152.00 on rent each month.
How Much Rent Can I Afford Making $25 An Hour
If you make $25 an hour, you can afford $1,200.00 on rent each month.
How Much Rent Can I Afford Making $26 An Hour
If you make $26 an hour, you can afford $1,248.00 on rent each month.
How Much Rent Can I Afford Making $27 An Hour
If you make $27 an hour, you can afford $1,296.00 on rent each month.
How Much Rent Can I Afford Making $28 An Hour
If you make $28 an hour, you can afford $1,344.00 on rent each month.
How Much Rent Can I Afford Making $29 An Hour
If you make $29 an hour, you can afford $1,392.00 on rent each month.
How Much Rent Can I Afford Making $30 An Hour
If you make $30 an hour, you can afford $1,440.00 on rent each month.
How Much Rent Can I Afford Making $31 An Hour
If you make $31 an hour, you can afford $1,488.00 on rent each month.
How Much Rent Can I Afford Making $32 An Hour
If you make $32 an hour, you can afford $1,536.00 on rent each month.
How Much Rent Can I Afford Making $33 An Hour
If you make $33 an hour, you can afford $1,584.00 on rent each month.
How Much Rent Can I Afford Making $34 An Hour
If you make $34 an hour, you can afford $1,632.00 on rent each month.
How Much Rent Can I Afford Making $35 An Hour
If you make $35 an hour, you can afford $1,680.00 on rent each month.
