Lowest bound of $S$ such that a set of $n$ known rectangles fit in an $S*S$ square.

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There is a set of $n$ rectangles with known dimensions. I want to find the smallest square that can fit all these rectangles within the following rules:

1) Rectangle sides must be parallel to $X$ or $Y$ axis.

2) Rotating rectangles is allowed.

3) Rectangles can touch but must not overlap.

I'm pretty sure no polynomial algorithm exists for such a problem, so I'm interested in some mathematical formula that gives a reasonable lowest bound of the square size.

Thanks.