3x Rent Calculator

What is the 3x Rent Rule?

The 3x rent rule is a common financial guideline used by landlords and property managers to determine if a tenant can afford a rental property. It suggests that a tenant's monthly gross income should be at least three times the monthly rent. For instance, if the monthly rent is $1,500, the required monthly income is $4,500.

Why Do Landlords Use the 3x Rent Rule?

Landlords enforce this rule to minimize the risk of late payments or evictions. When housing costs are kept under 30% to 33.3% of income, tenants are more likely to have enough leftover money for essential needs like food, health insurance, transportation, and savings, ensuring stable housing.

How to Calculate Your Affordable Rent

You can calculate your rent affordability in three ways using this calculator:

• Find Required Income: Input the monthly rent to find the target monthly and annual income you need to qualify.
• Find Affordable Rent: Input your current monthly or annual income to discover the maximum rent price you can afford under the rule.
• Check Qualification: Input both your rent and income to determine if you pass the threshold and see your exact rent-to-income percentage.