Free landlord tool
Check an application against the income rule you use, pool the incomes of everyone on the lease, and see the highest rent an income qualifies for.
Leave empty if there is no co-applicant.
Leave empty if there is no co-applicant.
Income requirement
Falls short
Combined income is 2.69 times the rent.
Combined monthly income
$4,833.33
Income needed for this rent
$5,400.00
$64,800 a year
Highest rent this income qualifies for
$1,611.11
Rent as a share of income
37.2%
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The rule most landlords use is that an applicant's gross monthly income, before tax, should be at least three times the monthly rent. A $1,800 apartment therefore needs $5,400 a month, or $64,800 a year.
The same rule can be read the other way: rent should be no more than about a third of gross income. Some landlords use 2.5 times in markets where rents are high relative to wages, and some ask for more for a first-time renter.
When two or more adults sign the lease, their incomes are usually added together, because each of them is responsible for the whole rent.
Whatever multiple you choose, write it into your rental criteria and apply it to every application. Count income consistently too: decide in advance how you treat benefits, child support, self-employment income and housing vouchers.
Some states and cities limit how income may be used to screen tenants, especially where a tenant pays part of the rent with a voucher. Check the rules where your property is before you set your criteria.
An applicant earning $58,000 a year applies for a $1,800 apartment. That is $4,833.33 a month, 2.69 times the rent, so the application falls short of the 3x rule; on that income alone, the highest rent that qualifies is $1,611.11.
With a co-applicant earning $24,000 a year, combined income is $6,833.33 a month, 3.80 times the rent, and the application meets the rule.
This calculator does the arithmetic only. It is not legal advice, and fair housing and income-source rules where your property is may limit how you screen applicants.
It is a common screening rule that an applicant's gross monthly income should be at least three times the monthly rent. For $2,200 rent, that is $6,600 a month or $79,200 a year.
Gross income, before taxes and deductions, is the usual basis because it is what pay stubs, offer letters and tax returns show most consistently.
Usually yes, when they all sign the lease and are each responsible for the full rent. Some landlords instead require each roommate to earn a multiple of their own share of the rent; whichever you choose, apply it to every application.
Many landlords accept a qualified guarantor, a larger deposit where the law allows it, or proof of savings instead. Whatever alternatives you offer, offer them to every applicant on the same terms.
Once an application is approved, Porchyard records the lease's tenants, rent and dates on the property it belongs to, so every rental's terms live in one place. Try it free for 30 days.