Free Tool
Rent Affordability Calculator
How much rent can you afford? Find out using your city's actual landlord income rules. Not just the generic 30% guideline.
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Sets local income rule
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How landlords calculate income requirements
Most landlords use a simple multiplier rule to determine if your income qualifies for a given rent. The two most common versions:
The 3× monthly rule (36× annual)
The standard across most US cities: your gross monthly income must be at least 3 times the monthly rent. For a $2,000/month apartment, you need to earn at least $6,000/month or $72,000/year.
The 40× annual rule
Used primarily in New York City and Boston. Your annual gross income must be at least 40 times the monthly rent. For a $3,000/month apartment in NYC, that means at least $120,000/year.
The 30% guideline
Personal finance guidance suggests spending no more than 30% of gross income on housing. Landlords rarely use this directly. They use the multiplier rules above.
Frequently asked questions
What is the 3x rent rule?
The 3x rent rule states your gross monthly income should be at least 3 times your monthly rent. For a $2,000/month apartment, you would need to earn at least $6,000/month ($72,000/year). Most landlords across the US use this as their baseline income requirement.
What is the 40x rent rule in NYC?
In New York City, the dominant standard is 40x the monthly rent in annual income. For a $3,000/month apartment, NYC landlords typically require at least $120,000 in annual income. This is stricter than the 3x monthly (36x annual) rule used in most other cities.
How much of my income should go to rent?
The traditional guideline is the 30% rule. Spending no more than 30% of gross income on rent. Under 25% is considered comfortable. 30–35% is manageable but limits savings. Over 35% is financially risky and most landlords will flag it during screening.
What if my income is non-traditional (freelance, gig work)?
Landlords still apply the same income ratios, but non-traditional earners need to prove their income differently. Bank statements, 1099 forms, tax returns, and bank-verified income reports (like those from Settl) are all accepted alternatives to pay stubs.
Can a lower income qualify if I pay more upfront?
Sometimes. Offering 2–3 months of rent upfront, finding a co-signer, or providing additional financial documentation can compensate for income just below the threshold. Landlords ultimately want confidence you can pay. The multiplier is just a heuristic.