trexman@sh.itjust.works to Unethical Life Pro Tips@lemmy.world · 1 year agoRent requirements in the US are nutsi.imgur.comimagemessage-square362fedilinkarrow-up11.74Karrow-down145
arrow-up11.69Karrow-down1imageRent requirements in the US are nutsi.imgur.comtrexman@sh.itjust.works to Unethical Life Pro Tips@lemmy.world · 1 year agomessage-square362fedilink
minus-squarestevehobbeslinkfedilinkarrow-up4·edit-21 year agoThey’re 40x the monthly rent. If you want to rent a $2,500 apartment, you need $100k in income (gross, not net). Yes, if you can skimp elsewhere, you can make it work with a smaller ratio. But it isn’t an insane rule of thumb for what you can afford.
minus-squareNightAuthor@lemmy.worldlinkfedilinkEnglisharrow-up2·1 year agoThey’re saying 3-4x on a monthly basis.
minus-squarestevehobbeslinkfedilinkarrow-up2·edit-21 year agoI’m just saying what it is, in NYC it’s 40x the monthly rent for annual gross income, 80x for guarantors. 3.3x the monthly rent. This is true pretty much everywhere in NYC. It’s in their range but more precise, and they will care about annual income. They’ll ask to see tax returns often.
They’re 40x the monthly rent.
If you want to rent a $2,500 apartment, you need $100k in income (gross, not net).
Yes, if you can skimp elsewhere, you can make it work with a smaller ratio. But it isn’t an insane rule of thumb for what you can afford.
They’re saying 3-4x on a monthly basis.
I’m just saying what it is, in NYC it’s 40x the monthly rent for annual gross income, 80x for guarantors.
3.3x the monthly rent. This is true pretty much everywhere in NYC.
It’s in their range but more precise, and they will care about annual income. They’ll ask to see tax returns often.