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 Rent | One-Third | 30% |
|---|---|---|
| $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 |
Renters: Become a Homeowner - Read This and Leam How
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