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Operating Expense Ratio Calculator

Measure how much of your rental income goes to running the property. See your operating expense ratio, NOI margin, break-even ratio, and per-category efficiency — and how it all compares to a market benchmark.

Operating Expense Ratio = Operating Expenses ÷ Effective Gross Income. Excludes mortgage, depreciation & capital improvements. Estimates only.
1 Rental income
units
/mo
%
0%10%20%
2 Operating expenses (monthly)
% EGI
3 Benchmark & financing
%
20%45%70%
Leave at 0 to hide break-even ratio & debt coverage.
Operating expense ratio
—
Enter your details and click Calculate
Efficiency highlights
Operating expense ratio —
NOI margin —
Net operating income —
Total operating expenses —
Break-even ratio —
Cap rate —
Operating expenses (annual)
Calculate to see breakdown
Income summary
Property value—
Units—
Gross potential rent /yr—
Other income /yr—
Vacancy loss /yr—
Effective gross income /yr—
Operating expenses /yr
Property tax—
Insurance—
Management—
Maintenance & repairs—
Utilities—
HOA dues—
Other operating—
Total operating expenses—
Ratios & efficiency
Operating expense ratio—
NOI margin—
Net operating income /yr—
Cap rate—
Expense per unit /yr—
Income per unit /yr—
Financing & coverage
Monthly P&I—
Annual debt service—
Break-even ratio—
DSCR—
Cash flow /yr—
Benchmark comparison
Your expense ratio—
Target / market ratio—
vs. benchmark—
Expense trim to hit target /yr—
Verdict—
Visualizations
NOI by expense ratio
Income split: OpEx vs NOI
Disclosure: This calculator provides estimates for informational purposes only and does not constitute financial or investment advice. The operating expense ratio excludes mortgage payments, depreciation, and capital improvements by definition; different lenders and analysts may classify expenses differently. Verify figures against actual operating statements before relying on them.