Rent is one of the biggest monthly expenses for most people, so figuring out how much you can comfortably afford is a smart first step in your rental journey. Knowing your budget helps you avoid financial stress and gives you peace of mind when choosing your next home.
In this guide, we’ll walk you through everything you need to know to set a rent budget that works for you. We’ll cover general guidelines, how to make the numbers work in your own life, and tips to make your money go further.
At Hignell Rentals, we’re here to help you find a home that fits your lifestyle and your budget.
Most experts recommend spending no more than 30% of your gross monthly income on rent. However, your local cost of living, savings goals, and lifestyle should guide your final budget.
A common rule of thumb for budgeting for rent is the 30% rule, which suggests spending no more than 30% of your gross monthly income (before taxes) on rent.
(Monthly Gross Income x 0.3) = Recommended Rent Limit
Example: $4,500 x 0.3 = $1,350 maximum monthly rent
This quick calculation gives you a helpful starting point, but your financial picture may require adjustments.
Real life isn’t always one-size-fits-all. Some renters have unique financial situations that make the 30% rule feel unrealistic or too rigid. Here are a few examples:
It’s okay to go above or below the 30% rule, depending on your lifestyle. The key is creating a budget that lets you cover all your needs without overextending yourself.
Here’s a simple guide to determine how much rent you can afford without using a calculator.
A good rule is to have at least 20% of your income left after paying rent and expenses for savings or unexpected costs.
Renting a home involves more than monthly rent. Plan ahead for both one-time and ongoing costs to avoid surprises.
One-Time Costs
Ongoing Costs
In Chico and Redding, utility costs can vary depending on the season and energy use.
Tip: Explore our listings to see which fees may be expected.
Rent prices vary widely between cities. Here’s a snapshot of the average cost of rent in California’s Northern regions:
These prices make both Chico and Redding more affordable alternatives compared to major metro areas like Sacramento or the Bay Area.
View available rentals in Chico and Redding that fit your budget.
At Hignell Rentals, we make renting simple and stress-free with tools and support that keep your finances in check.
Multiply your gross monthly income by 0.3 (30%) for a quick estimate, then adjust for expenses and savings goals.
Most renters spend between 25% and 35% of their gross income on rent.
Utilities can add $150–$250 per month. Include these when calculating total housing costs.
Yes, splitting rent and utilities often saves several hundred dollars per month.
If rent still feels too high to manage right now during your apartment search, you have a few options. You can consider flexible lease options (shorter terms or month-to-month leases), find an apartment with move-in specials, or consider splitting rent with a roommate.
Understanding how much rent you can afford is the first step toward a smooth, stress-free renting experience. With a clear budget in place, you can confidently search for homes that match your lifestyle and financial goals.
Hignell Rentals is here to guide you every step of the way. From helpful tools to local listings, we make it easier to find a place that feels like home—without stretching your budget.
Ready to find a rental that fits your lifestyle and budget? Browse available properties now.