How Much Rent Can I Afford?

See how much rent fits your income with the 30% rule, room for your debt payments, and what it costs to move in.

Household income before tax

A year, for everyone who’ll pay the rent

Loan and card payments

A month: car, student and personal loans, card minimums

Rent you can afford

$1,750/mo

30% of your income before tax

Comfortable (25%): $1,458/mo
Stretched (35%): $2,042/mo

Rent$1,750
Tax and everything else$4,083

What this means

Spending about 30% of your income before tax on rent leaves room for bills, saving and the rest of life. Below 25% is comfortable; above 35%, money gets tight, especially with debts.

To move in, expect to pay the first month’s rent and a deposit set by your province: in Ontario usually the last month’s rent, in BC up to half a month’s rent: about $3,500 at this rent.

Next step

Rent at different shares of your income

Share of income	Rent
20%	$1,167/mo
25%	$1,458/mo
30%	$1,750/mo
35%	$2,042/mo
40%	$2,333/mo

Moving in

Rent in advance$1,750
Deposit$1,750
To move in$3,500

Assumptions in this estimate

The 30% guide uses income before tax. If you have high costs such as childcare, aim lower.
Bills, internet, insurance and moving costs come on top of the rent and deposit.

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How the calculator works

Income: your household’s income before tax, for everyone who’ll pay the rent.
Debts: monthly loan and card payments.
Result: rent at 30% of your income, with a comfortable level (25%) and a stretched one (35%). If debts would take you over 40% of your income, the rent is lowered.

Example

On $70,000 a year with no debts:

	A month
Comfortable (25%)	$1,458
The 30% rule	$1,750
Stretched (35%)	$2,042

With $600 a month of debt payments, the rent you can afford falls to $1,733.

Before you sign

Budget for the extras: utilities, internet and tenant insurance usually come on top.
Know your province’s rules: deposits, rent increases and notice periods are set by each province.
Saving to buy? An FHSA helps, and the rent vs buy calculator compares the two.

Last updated October 20, 2026

Frequently asked questions

How much rent can I afford on $70,000 a year?

About $1,750 a month, using the 30% rule: 30% of $5,833 a month before tax. Up to $1,458 is comfortable, and above $2,042 money gets tight.

Where does the 30% rule come from?

CMHC considers housing affordable when it costs less than 30% of a household’s income before tax. It’s a guide: in expensive cities many people pay more, and cut back elsewhere.

Should I count my debts?

Yes. Car, student loan and card payments come out of the same income. The calculator keeps rent and debt payments together within 40% of your income before tax.

What deposit can a landlord ask for?

It depends on your province. In Ontario, landlords can ask for a deposit of the last month’s rent, but not a damage deposit. In BC, a security deposit can be up to half a month’s rent.