Many U.S. landlords ask that tenants earn at least three times the rent (40 times the monthly rent per year in New York City). With roommates, the rule is usually applied to combined income.
How to use the 3x Rent Calculator
- Monthly rent
- Number of tenants
- Your gross monthly income
- Landlord’s rule
Results update as you type, and every field accepts the units shown in its menu.
How it works
Enter the monthly rent, the number of tenants and your gross monthly income.
Tips
- Get a written loan estimate and compare the APR, not just the interest rate.
- Include property tax, insurance, HOA fees and maintenance in your monthly budget.
- A larger down payment lowers the payment and can remove mortgage insurance.
- Rates change daily – use a current quote for the most accurate result.
Common mistakes to avoid
- Looking only at the monthly payment instead of the total cost of the loan.
- Forgetting closing costs and fees.
- Assuming home prices always rise.
Inputs explained
| Field | What to enter |
|---|---|
| Monthly rent | Amount in your currency |
| Number of tenants | A number |
| Your gross monthly income | Amount in your currency |
| Landlord’s rule | Choose one: 3 × rent, 2.5 × rent, 40 × rent per year (NYC) |
What each result means
- Required gross monthly income (total) = [Monthly rent]×[Landlord’s rule]
- Required income per tenant = [Monthly rent]×[Landlord’s rule]÷[Number of tenants]
- Required annual income = [Monthly rent]×[Landlord’s rule]×12
- Maximum rent on your income = [Your gross monthly income]×[Number of tenants]÷[Landlord’s rule]
Example values
How the main result changes when Monthly rent changes and everything else stays at the example values above:
| Monthly rent | Required gross monthly income (total) |
|---|---|
| 1,050 | 3,150 |
| 1,575 | 4,725 |
| 2,100 | 6,300 |
| 2,625 | 7,875 |
| 3,150 | 9,450 |
| 4,200 | 12,600 |
Formula
Required gross monthly income = 3 × monthly rentRequired annual income = 36 × monthly rent (or 40× in some cities)Maximum rent = gross monthly income ÷ 3Worked example
Inputs — Monthly rent: $2,100; Number of tenants: 1; Your gross monthly income: $5,800; Landlord's rule: 3 × rent.
Results — Required gross monthly income (total) = $6,300.00; Required income per tenant = $6,300.00; Required annual income = $75,600.00; Maximum rent on your income = $1,933.33; Do you qualify? = No – income is below the rule.
Frequently asked questions
What is the 3x rent rule?
Landlords require gross monthly income of at least three times the rent.
Is it gross or net income?
Gross (before tax) income.
What if I don't meet it?
Offer a guarantor, a larger deposit or proof of savings.
What formula does the 3x Rent Calculator use?
Required gross monthly income = 3 × monthly rent.