For points p 1 , . . . , p n in the unit square [0,1] 2 , an anchored rectangle packing consists of interior-disjoint axis-aligned empty rectangles r 1 , . . . , r n ⊆ [0, 1] 2 such that point p i is a corner of the rectangle r i (that is, r i is anchored at p i ) for i = 1, . . . , n. We show that for every set of n points in [0,1] 2 , there is an anchored rectangle packing of area at least 7/12 − O(1/n), and for every n ∈ N, there are point sets for which the area of every anchored rectangle packing is at most 2/3. The maximum area of an anchored square packing is always at least 5/32 and sometimes at most 7/27.The above constructive lower bounds immediately yield constant-factor approximations, of 7/12 − ε for rectangles and 5/32 for squares, for computing anchored packings of maximum area in O(n log n) time. We prove that a simple greedy strategy achieves a 9/47-approximation for anchored square packings, and 1/3 for lower-left anchored square packings. Reductions to maximum weight independent set (MWIS) yield a QPTAS and a PTAS for anchored rectangle and square packings in n O(1/ε) and exp(poly(log(n/ε))) time, respectively.