NYC Rent Calculator: How Much Rent Can You Afford?
NYC landlords ask for a yearly income of 40 times the monthly rent, so a $75,000 salary qualifies for rent up to $1,875 a month. A guarantor needs 80 times the rent. The share of take-home pay uses the same figures as the NYC paycheck calculator, for a single filer who lives in the city.
Most rent you qualify for at 40x
$1,875
a month
- Your take-home a month
- $4,590.94
- That rent's share of it
- 40.8%
Take-home for a single filer who lives in NYC, paid every two weeks.
The rent you entered: $2,500 a month
| Yearly income it needs at 40x | $100,000 |
|---|---|
| Guarantor income it needs at 80x | $200,000 |
| Share of your take-home pay | 54.5% |
Your income is $25,000 short of the 40x rule for $2,500 a month, so a landlord may ask for a guarantor earning $200,000.
The 40x rent rule in NYC
Landlords and management companies in New York City look for a yearly income of at least 40 times the monthly rent, counted before tax. Divide your salary by 40 for the most rent you qualify for, or multiply a rent by 40 for the income it takes: $2,500 a month needs $100,000 a year.
| Salary | Most rent at 40x | Take-home a month | Share of take-home |
|---|---|---|---|
| $60,000 after taxes | $1,500 | $3,783.03 | 39.7% |
| $80,000 after taxes | $2,000 | $4,842.03 | 41.3% |
| $100,000 after taxes | $2,500 | $5,843.24 | 42.8% |
| $150,000 after taxes | $3,750 | $8,246.78 | 45.5% |
Guarantor requirements in NYC: the 80x rule
If your income falls short of 40 times the rent, a landlord will usually accept a guarantor who signs for the lease and earns at least 80 times the monthly rent. For a $2,500 apartment that is $200,000 a year.
Rent as a share of take-home pay
The 40x rule is set on pay before tax, so a rent at the limit takes a bigger share of what reaches your account: 45.5% of take-home on $150,000 and 39.7% on $60,000. Taxes take a larger part of each extra dollar as pay rises, so the share climbs with salary.