How much rent can I afford on my salary?

Use the 30% rule: your rent should be 30% or less of your gross monthly income. At $60K, that's $1,500/month.

Is the 30% rule realistic in Canada?

In expensive cities like Toronto and Vancouver, many renters spend 40-50% of income on rent. The 30% rule is ideal but not always achievable.

Use the 30% rule to determine how much rent you can afford: your rent should be 30% or less of gross monthly income. Here’s your guide.

Annual Salary	Monthly Gross	30% Max Rent	25% Ideal
$40,000	$3,333	$1,000	$833
$50,000	$4,167	$1,250	$1,042
$60,000	$5,000	$1,500	$1,250
$70,000	$5,833	$1,750	$1,458
$80,000	$6,667	$2,000	$1,667
$90,000	$7,500	$2,250	$1,875
$100,000	$8,333	$2,500	$2,083
$120,000	$10,000	$3,000	$2,500

Guideline	What It Means
30% of gross	Traditional affordability limit
30% of net	More conservative, realistic
25% of gross	Leaves room for aggressive saving
40%+ of gross	Rent-burdened (common in major cities)

In Toronto and Vancouver, median earners cannot afford average rent.

$60,000 salary, $1,500/month rent:

Budget remaining for: food, transportation, savings, lifestyle.

If rent is $2,000, landlords often want $5,000-$6,000/month gross income.

Situation	Why It Works
No car needed	Save $400-$600/month
Short commute	Time savings, lower transport
Temporary (1-2 years)	Income growth expected
No debt	Full budget flexibility
Ultra-high income	Basic expenses don’t scale

Roommates make expensive cities accessible.