Can I Afford to Rent Alone on My Salary?
Moving out on your own is a big step. Before you sign a tenancy, run the numbers to see if solo renting fits your income, debts and savings. This guide walks through simple checks you can pair with the HouseBudget Calculator to test different rent levels and living costs.
Quick checks before you go solo
- Stable take-home pay: know your monthly pay after tax, pension and deductions.
- Debt commitments: list minimum credit payments and loans that reduce what you can put toward rent.
- Safety margin: many renters keep housing at 25–35% of take-home pay to leave room for bills and savings.
- Emergency buffer: aim for at least one month of expenses saved to handle surprises.
How to test your rent in the calculator
- Open the HouseBudget Calculator and enter your monthly net income and any debt payments.
- Use the rent slider to set a rent as a percentage of income, or type the rent you are considering.
- Check the results list to confirm the rent fits within your preferred percentage range.
- Adjust council tax, utilities and travel in your own budget to confirm you can still save monthly.
Costs people forget when renting alone
- Utilities in your own name: gas, electric, water and broadband can add £150–£250+ per month depending on usage.
- Council tax banding: check the property’s band and include the single-person discount if applicable.
- Moving and setup: deposits, first month’s rent, furniture, insurance and TV licence.
- Commuting and food: solo living can nudge these up without housemates to split costs.
If the numbers don’t work yet
Try lowering the target rent in the calculator, increase income (overtime or side work), or delay the move while you clear debts. You could also consider a flatshare for 6–12 months to build savings before renting alone. Having a plan means fewer surprises once you have your own place.