Total Cost of Renting
Most renters only look at the base rent. Use this tool to uncover the full financial picture of your next home.
Monthly expenses
Cost Breakdown
Financial Analysis
Your non-rent expenses total $ 235 per month.
This represents 14% of your total housing cost.
Expert Tip
Always factor in a 5-10% "buffer" for unexpected utility spikes or maintenance fees when budgeting for a new apartment.
The "Hidden" Costs of Renting
When signing a lease, the number on the front page isn't the whole story. To manage your finances effectively, you need to account for several recurring expenses:
Essential Utilities
Electricity, water, gas, and sewer. Depending on your building, some might be included, but in older units, these can add up to 15% of your rent.
Digital Life
High-speed internet and streaming services. Often overlooked but essential for work and entertainment.
Why Use This Calculator?
Financial advisors typically recommend following the 30% rule—spending no more than 30% of your gross income on housing. However, that 30% should ideally include all housing costs, not just the rent.
- Accuracy: Stop guessing if you can afford that luxury unit.
- Comparison: Compare two units with different inclusion policies (e.g., one includes utilities, the other doesn't).
- Peace of Mind: Know exactly what will be leaving your bank account every month.
"Smart budgeting isn't about how much you make, it's about how much you keep. Knowing your total housing cost is the first step to financial freedom."