Income Needed Calculator
Calculate the minimum income required to afford a specific rent amount. See requirements using both the 30% rule and the 40x rule.
Desired Rent
Enter the monthly rent you are considering
30% Rule
Your rent should not exceed 30% of your gross monthly income. This is the standard guideline used by financial advisors.
40x Rule
Many landlords require your annual income to be at least 40 times your monthly rent. This is a common qualification standard.
Enter a rent amount to see results
Income Needed by City
Average 1-bedroom rent and required income for major US cities
| City | Avg Rent | Income Needed (30%) | Income Needed (40x) |
|---|---|---|---|
| New York, NY | $3,500 | $140,000 | $140,000 |
| San Francisco, CA | $3,000 | $120,000 | $120,000 |
| Los Angeles, CA | $2,400 | $96,000 | $96,000 |
| Chicago, IL | $1,800 | $72,000 | $72,000 |
| Houston, TX | $1,400 | $56,000 | $56,000 |
| Phoenix, AZ | $1,500 | $60,000 | $60,000 |
| Philadelphia, PA | $1,600 | $64,000 | $64,000 |
| Dallas, TX | $1,550 | $62,000 | $62,000 |
Understanding Income Requirements
Why do landlords use the 40x rule?
The 40x rule is slightly stricter than the 30% rule. It ensures tenants can comfortably afford rent while having a buffer for other expenses and unexpected costs.
What if I don't meet the requirement?
If you don't meet income requirements, you may need a co-signer, offer a larger security deposit, or provide additional documentation like savings statements.
Can I include other income sources?
Yes, most landlords accept income from multiple sources including bonuses, investments, alimony, or child support. Document all income sources.
Is gross or net income used?
Landlords typically use gross income (before taxes and deductions) for qualification. Always clarify which income figure they require.