Calculate how much rent you can afford based on your annual income.
Based on your £30,000 annual income, the maximum rent you can afford is £1,000 monthly.
See below for how this is calculated.Rent affordability table
The table below shows the monthly rent and the annual income expected.
| Monthly rent | Annual income |
|---|---|
| £300 | £9,000 |
| £500 | £15,000 |
| £700 | £21,000 |
| £900 | £27,000 |
| £1,100 | £33,000 |
| £1,300 | £39,000 |
| £1,500 | £45,000 |
| £1,700 | £51,000 |
| £1,900 | £57,000 |
| £2,100 | £63,000 |
How is rental affordability calculated?
The general rule of thumb is your annual income should be 30 times the monthly rent.
Or, you can multiply the yearly rent by 2.5 times.
For example
If the monthly rent was £500, then you would need an annual income of £15,000 to pass the affordability check.
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