How Much Rent Can I Afford?

 

Every search for a residential rental should start with the question, "How much rent can I afford?" While every rental applicant must determine their own budget, it is important to know that the majority of landlords expect a person's rent not to exceed thirty percent of their gross income or one-third with exceptionally good credit. Following is a chart that may be helpful:

 

Monthly RentOne-Third30%
$1,000$3,000$3,333
$1,500$4,500$5,000
$2,000$6,000$6,667
$2,500$7,500$8,333
$3,000$9,000$10,000
$3,500 $10,500$11,667
$4,000$12,000$13,333
$4,500$13,500$15,000
$5,000$15,000$16,667

 

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