How much rent can you afford?
It's important that you decide on a budget before you start viewing properties to rent. This is because you need to make sure you're only taking on a rent that you can comfortably afford.
When you apply for a tenancy, we will verify that your income is sufficient to cover the monthly rent. We normally require tenants to have an income of at least two and a half (2.5x) the rent (in certain circumstances this may be slightly higher). If you are asked to provide a guarantor, they will need to prove an income of at least three (3x) the rent.
What rent can I afford to pay?
Use the guide below to calculate what your maximum rent budget should be based on your gross annual income (before tax). If you will be renting with another adult, you can combine your annual incomes to work out what you can afford.
Example: if two adults wanted to rent a property with a monthly rent of £1,150 they would need a combined annual income of £34,500.
|
Monthly Rent
|
Tenant income (2.5x)
|
Guarantor Income (3x)
|
|
475
|
14250
|
17100
|
|
500
|
15000
|
18000
|
|
525
|
15750
|
18900
|
|
550
|
16500
|
19800
|
|
575
|
17250
|
20700
|
|
600
|
18000
|
21600
|
|
625
|
18750
|
22500
|
|
650
|
19500
|
23400
|
|
675
|
20250
|
24300
|
|
700
|
21000
|
25200
|
|
725
|
21750
|
26100
|
|
750
|
22500
|
27000
|
|
775
|
23250
|
27900
|
|
800
|
24000
|
28800
|
|
825
|
24750
|
29700
|
|
850
|
25500
|
30600
|
|
875
|
26250
|
31500
|
|
900
|
27000
|
32400
|
|
925
|
27750
|
33300
|
|
950
|
28500
|
34200
|
|
975
|
29250
|
35100
|
|
1000
|
30000
|
36000
|
|
1025
|
30750
|
36900
|
|
1050
|
31500
|
37800
|
|
1075
|
32250
|
38700
|
|
1100
|
33000
|
39600
|
|
1125
|
33750
|
40500
|
|
1150
|
34500
|
41400
|
|
1175
|
35250
|
42300
|
|
1200
|
36000
|
43200
|
|
1225
|
36750
|
44100
|
|
1250
|
37500
|
45000
|
|
1275
|
38250
|
45900
|
|
1300
|
39000
|
46800
|
|
|
|
Monthly Rent
|
Tenant income (2.5x)
|
Guarantor Income (3x)
|
|
1325
|
39750
|
47700
|
|
1350
|
40500
|
48600
|
|
1375
|
41250
|
49500
|
|
1400
|
42000
|
50400
|
|
1425
|
42750
|
51300
|
|
1450
|
43500
|
52200
|
|
1475
|
44250
|
53100
|
|
1500
|
45000
|
54000
|
|
1525
|
45750
|
54900
|
|
1550
|
46500
|
55800
|
|
1575
|
47250
|
56700
|
|
1600
|
48000
|
57600
|
|
1625
|
48750
|
58500
|
|
1650
|
49500
|
59400
|
|
1675
|
50250
|
60300
|
|
1700
|
51000
|
61200
|
|
1725
|
51750
|
62100
|
|
1750
|
52500
|
63000
|
|
1775
|
53250
|
63900
|
|
1800
|
54000
|
64800
|
|
1850
|
55500
|
66600
|
|
1900
|
57000
|
68400
|
|
1950
|
58500
|
70200
|
|
2000
|
60000
|
72000
|
|
2050
|
61500
|
73800
|
|
2100
|
63000
|
75600
|
|
2150
|
64500
|
77400
|
|
2200
|
66000
|
79200
|
|
2250
|
67500
|
81000
|
|
2300
|
69000
|
82800
|
|
2350
|
70500
|
84600
|
|
2400
|
72000
|
86400
|
|
2450
|
73500
|
88200
|
|
2500
|
75000
|
90000
|
|
