Is paying more rent to live closer to work actually worth it? Compare the extra cost against the value of the commute time you'd get back.
Extra monthly rent is simply the new rent minus your current rent. Monthly time saved converts your daily commute time difference (both directions, across your work days) into hours per month.
Multiplying the time saved by your hourly value gives a dollar figure for that reclaimed time, which is then compared directly against the extra rent. A positive net monthly benefit suggests the move pays for itself in time value alone — before even counting quality-of-life benefits like less fatigue or more time for other things.
Many people use their work hourly rate as a reasonable proxy, though you may value personal time differently — feel free to adjust it to reflect how you personally value your free time.
No — this compares only the ongoing monthly rent difference and time value. One-time moving costs (deposits, movers, etc.) should be weighed separately, especially if you're deciding based on a short time horizon.
A negative number suggests the extra rent costs more than the time saved is worth by this measure — though other factors like reduced stress or a better neighborhood might still make the move worthwhile for you personally.