Financial Details
Enter your income and expenses
Tips to Improve Rent Affordability
Consider Location Carefully
In Indian cities, rents can vary dramatically between neighborhoods. Consider slightly farther areas with good transport links.
Share Accommodation
Sharing a flat can reduce costs by 30-50%. Many professionals in Mumbai, Bangalore opt for shared living to save money.
Negotiate Rent Terms
In India, long-term leases (2-3 years) often get better rates. Offer to pay a few months upfront for discounts.
Enter Your Financial Details
Fill in your income, expenses and location to calculate how much rent you can afford
Frequently Asked Questions
In India, financial experts typically recommend:
- 25-30%: Ideal rent-to-income ratio (rent as percentage of monthly income)
- Up to 40%: Maximum in expensive cities like Mumbai, Bangalore
- Below 50%: Absolute limit to maintain financial health
This calculator uses the standard 30% rule as a guideline:
- Your monthly rent should be ≤ 30% of your gross monthly income
- Your total housing costs (rent + utilities + other) should be ≤ 35%
- Your total debt payments (housing + other EMIs) should be ≤ 40-50%
Beyond monthly rent, budget for these common costs in Indian rentals:
- Security Deposit: Typically 3-10 months rent (higher in cities like Mumbai)
- Maintenance Charges: ₹2,000-10,000/month for apartments
- Brokerage: 1-2 months rent if using a broker
- Registration: Optional but recommended for long leases
- Furnishing: Can add 10-20% to initial costs if unfurnished