Tiny Toolkit

House Hack Calculator

House hacking — buying a 2–4 unit property, living in one unit, and renting the others — is one of the most effective strategies for reducing or eliminating your housing costs while building equity. Enter your purchase details, rental income from the other units, and personal living expenses to see your true effective monthly housing cost. FHA loans allow 3.5% down on owner-occupied multifamily, making the barrier to entry lower than most people expect.

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Frequently Asked Questions

What is house hacking?
House hacking means buying a property with multiple units (2–4), living in one unit yourself, and renting out the others. The rental income offsets your mortgage, dramatically reducing or eliminating your housing cost while you build equity.
What loan types work for house hacking?
FHA loans are the most popular for house hacking because they allow 3.5% down on owner-occupied 2–4 unit properties. Conventional loans also work with 5% down. VA loans offer 0% down for eligible veterans on owner-occupied multifamily.
Do I pay taxes on the rental income from house hacking?
Yes. Rental income from the units you rent out is taxable, but you can deduct a proportional share of mortgage interest, property taxes, insurance, repairs, and depreciation against that income. Consult a tax professional to optimize your deductions.
Is house hacking only for duplexes?
No. House hacking works in any owner-occupied 2–4 unit property (duplex, triplex, or fourplex). Some investors also house hack single-family homes by renting out rooms, though the financing rules are different.

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Related Articles

What Is House Hacking and How Does It Work?

House hacking means living in one unit of a multi-unit property and renting out the others — often covering most or all of your mortgage. Here's how to analyze a deal and get started.

5 min read