What is the 50/30/20 budget rule?

50% of after-tax income goes to needs (rent, utilities, groceries, insurance, minimum debt payments), 30% to wants (dining out, entertainment, hobbies, subscriptions), and 20% to savings and extra debt payments. It's a simple framework that works well for most renters.

How much of my budget should go to rent?

Within the 50% needs category, rent should be the largest item — typically 25-35% of gross income. If your rent exceeds 30%, you'll need to reduce other needs categories. Our calculator shows exactly how much is left for other expenses after rent.

How does the 50/30/20 rule work with roommates?

Roommates reduce your rent and utilities (needs category), freeing up money for wants and savings. If rent drops from 35% to 20% of income with a roommate, you gain 15% more for savings or discretionary spending. Our calculator shows both scenarios.

What if I can't follow the 50/30/20 rule exactly?

It's a guideline, not a rigid rule. In high-cost cities, needs may be 60%+ of income. The key is awareness — knowing where your money goes. Adjust the percentages to your situation, but always try to save at least 10%.

AI-PoweredFinancial CalculatorsFree — No sign-up

Renter Budget Calculator (50/30/20)

The 50/30/20 budgeting rule tailored for renters: 50% on needs (rent, utilities, groceries, insurance, transport), 30% on wants (dining, entertainment, shopping, subscriptions), and 20% on savings (emergency fund, retirement, goals). Includes city-adjusted rent maximums and roommate scenarios.

By Baljeet AulakhUpdated February 2026Reviewed for accuracy

Build a complete monthly budget using the 50/30/20 rule, tailored for renters. Enter your monthly income, city, and number of roommates to see exactly how much to allocate to needs (rent, utilities, groceries), wants (dining, entertainment), and savings (emergency fund, retirement). Get your maximum recommended rent and see how roommates free up budget for savings and lifestyle spending.

Monthly Gross Income

Before taxes and deductions

City

Number of Roommates

No roommates — solo budget

How This Calculator Works

Enter Your Details

Fill in amounts, people, and preferences. Takes under 30 seconds.

Get Fair Results

See an instant breakdown with data-driven calculations and Fairness Scores.

Share & Settle

Copy a shareable link to discuss results with everyone involved.

Frequently Asked Questions

Related Calculators

Affordability

How much rent can I afford? Enter your income and debts to get safe, comfortable, and stretch rent budgets using the 30% rule. Free calculator — no sign-up.

Move-In Costs

Calculate total first apartment move-in costs including deposits, first/last month, broker fees, furniture, and setup expenses.

Rent to Income

Check if you qualify for an apartment using the 3x rent rule. Calculate income needed and see if you pass the 40x annual test.

Prorated Rent

Calculate exact prorated rent for partial months when moving in or out mid-month. Multiple calculation methods.

DTI Calculator

Calculate your debt-to-income ratio and find out how much rent you can afford. See if you qualify for apartments based on DTI requirements.

True Cost

Calculate the real monthly cost of any apartment including hidden expenses like commute, utilities, parking, laundry, and fees.

Related Guide

Understanding Your Debt-to-Income Ratio (DTI)

Budget rules, the 50/30/20 method, and how DTI affects your housing options.

Explore 39+ Free Calculators

Split rent, bills, tips, trips, wedding costs, childcare, and more.

Browse All Calculators