Enter the area median income (AMI) amount and the percentage of income allocated to rent (%) into the calculator to determine the rent amount. The result is for the same time period as the AMI you enter (e.g., if you enter an annual AMI, the result is annual rent; for monthly rent from an annual AMI, divide by 12 or enter AMI/12).
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AMI Rent Formula
The following formula is used to calculate the AMI Rent.
Rami = AMI * R/100
- Where Rami is the AMI rent amount ($) for the same time period as the AMI used
- AMI is the area median income ($)
- R is the percentage of AMI used for rent (%)
To calculate the AMI rent amount, multiply the AMI by the rent percentage and divide by 100. If AMI is annual and you need a monthly rent amount, divide the result by 12.
How to Calculate AMI Rent?
The following example problems outline how to calculate AMI Rent.
Example Problem #1:
- First, determine the area median income (AMI) amount. In this example, the area median income (AMI) is given as 5000.
- Next, determine the percentage of AMI as rent (%). For this problem, the percentage of AMI as rent (%) is given as 30.
- Finally, calculate the AMI Rent using the equation above:
Rami = AMI * R/100
The values given above are inserted into the equation below:
Rami = 5000 * 30/100 = 1500.00 ($)
Example Problem #2:
The variables needed for this problem are provided below:
area median income (AMI) = 6000
percentage of AMI as rent (%) = 40
Entering these values and solving gives:
Rami = 6000 * 40/100 = 2400 ($)
