Free Template
Rent Affordability Sheet
Input your income to determine safe rent range and housing budget.
Template Content
Rent Affordability Calculation ------------------------------ Annual Salary (Gross): $ Monthly Take-Home (Net): $ Affordability Rules: - 30% Rule (Net): $ (Safe / Recommended) - 40% Rule (Net): $ (Stretching) - 50% Rule (Net): $ (Housing Stress) My Target Weekly Rent: $ My Target Monthly Rent: $ Remaining Monthly Income after Rent: $ Other Housing Costs: - Electricity/Gas: $ - Water: $ - Internet: $ - Contents Insurance: $ **Total Housing Cost: $**
How to Use This Sheet
- 1
Enter your annual gross salary and your monthly take-home pay.
- 2
Calculate 30%, 40%, and 50% of your monthly take-home pay to see your affordability tiers.
- 3
In Australia, spending more than 30% of your gross income on housing is generally considered 'housing stress'.
- 4
Factor in utilities and insurance to get a complete picture of your housing budget.
- 5
Use this to set a realistic budget before you start searching for a new rental.
Pro Tips
Factor in the commute: A cheaper rental further away might cost you more in transport and time.
Be realistic about your 'stretching' limit: Can you truly afford 40% if you have other debts or goals?
Review your lease terms: Ensure you understand all costs before signing.
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Ivy Sinclair-Wren
Financial Chaos Analyst
Ivy Sinclair-Wren is a Financial Chaos Analyst covering investing, AI, wealth psychology, and the emotional consequences of opening finance apps during market crashes. Based in Melbourne, she specializes in demystifying the Australian tax code and helping users navigate the intersection of spreadsheet logic and human irrationality.