Overview

The Monthly Rent Calculator computes annual housing costs, jeonse equivalent amounts, and rent tax deductions based on your security deposit and monthly rent. Adjust the deposit-to-rent ratio to find optimal rental terms, and calculate fair rent using the jeonse-to-wolse conversion rate.

Formula

Annual rent cost = Monthly rent × 12
Jeonse equivalent = Deposit + (Monthly rent × 12 ÷ Conversion rate)
Fair monthly rent = (Jeonse deposit - Rent deposit) × Conversion rate ÷ 12

Example: Deposit 20M, Rent 700K/month
Annual cost = 700K × 12 = 8.4M KRW
Jeonse equivalent (5% rate) = 20M + (8.4M ÷ 0.05) = 20M + 168M = 188M KRW

How to Use

1. 1Enter the security deposit amount.
2. 2Enter the monthly rent amount.
3. 3Enter the jeonse-to-wolse conversion rate (default provided).
4. 4Select whether you qualify for rent tax deductions.
5. 5Click calculate to see annual costs, jeonse equivalent, and more.

Tips

• ✔Increasing the deposit lowers monthly rent. If you have spare funds, a higher deposit ratio is generally more cost-effective.
• ✔Claiming rent tax deductions (for non-homeowner household heads earning under 70M KRW) can save up to 1.27M KRW annually.
• ✔Always get a confirmed date (hwakjeong-ilja) on your lease to protect your deposit.
• ✔If maintenance fees are separate, add them to calculate your true monthly housing cost.
• ✔After a 2-year lease, you can exercise renewal rights for guaranteed 4-year residency.

FAQ