Cost of Living Calculator

Your cost of living is the total amount you need each month to cover essential expenses. Enter your actual spending below to see your total, required salary, and where your money goes.

The 30% Housing Rule

A widely cited guideline suggests spending no more than 30% of your gross income on housing. This rule originated from the United States Housing Act of 1937, which set public housing rent at 30% of a tenant's income. Over time it became a general benchmark for housing affordability.

In practice, the 30% rule has limitations. It does not account for other financial obligations like student loans, childcare, or medical costs. Someone spending 28% on housing but 15% on debt may be in a tighter position than someone at 33% housing with no debt. Use this calculator to see your full picture rather than relying on a single rule.

For a more complete view of how your spending breaks down, the Bureau of Labor Statistics publishes the Consumer Expenditure Survey, which tracks average household spending across categories. According to their latest data, housing accounts for roughly 33% of average household expenditures nationally.

Related Tools

Once you know your cost of living, use our 50/30/20 Budget Calculator to build a spending plan around it. If debt payments are a significant part of your expenses, the Debt Payoff Calculator can help you find a faster path to paying them off.