How much rent can you afford if you earn $18 per hour, if you spend 30% of your gross salary then it can be $936.00. See, it all depends on your lifestyle and financial situation.
There is no set limit to spend on house rent, but experts suggest spending 30% of your gross salary. If you are planning to save then you should go for an affordable house whose rent would be around 20% to 25% of your gross salary.
Salary Type
Amount
Hourly Salary
Daily Salary
Weekly Salary
Monthly Salary
Annual Salary
Monthly Spending Journey
Amount
Maximum rent you can afford
Transportation (14.5%)
Grocery (12.7%)
Insurance (10.4%)
Health (7.5%)
Entertainment (5.7%)
Recommended savings on your salary (19.2%)
Recommended rent you can afford on your salary
How much rent can afford you making $18 an hour?
If you make $18 per hour, your daily wage would be $144.00, which equates to $3120.00 monthly or $720.00 weekly. So, the recommended house rent you can afford is $936.00 which is 30% of your monthly salary.
Note: The rent rule of 30% is a general guideline, not mandatory for everyone. Check your retirement savings and all essential monthly expenses. And the remaining amount should be your actual rent for a better financial position.
Rent on a percentage basis
The rent table is based on an hourly wage of $18 per hour. This is based on a standard of 40 weekly work hours and 8 working hours per day.
Percentage (%)
Rent
30%
$936.00
29%
$904.80
28%
$873.60
27%
$842.40
26%
$811.20
25%
$780.00
24%
$748.80
23%
$717.60
22%
$686.40
21%
$655.20
20%
$624.00
18%
$561.60
15%
$468.00
10%
$312.00
FAQs
Can I save if I pay 30% if I make $18 an hour?
If you pay 30% of your salary you can save up to $599.04 per month. If you spend 20% to 25% on house rent, you can save more.
How much monthly if you earn $18 per hour?
If you make $18 an hour, your monthly salary will be $3,120.00
How much can I spend on transportation to make $18 an hour?
It all depends on your personal preference, but according to our calculations, you could spend $452.40, which is 14.5% of your salary.
What is the 40x rent rule?
This is a common rent rule followed by landlords, that your annual gross salary should be at least 40 times of your monthly rent. For example, if house rent is $1000, then your annual gross salary should be 1000 × 40 = $40,000.00.
