3x Rent Calculator
Calculate the recommended income multiplier for rental applications. Determine if tenant income meets 3x rent requirement.
How it works
The 3x rent rule requires tenant income to be at least 3 times the monthly rent. This helps ensure tenants can afford rent while covering other expenses.
Example
$1,500 rent × 3 = $4,500 minimum monthly income required.
FAQ
Why use the 3x rent rule?
It's a standard screening tool that helps ensure tenants have sufficient income to pay rent while maintaining their other financial obligations and living expenses.
What if tenant income is slightly below 3x?
Consider other factors like credit score, savings, employment stability, or requiring a co-signer. Some landlords accept 2.5x with compensating factors.
How does it work with multiple tenants?
Combine all tenants' incomes to meet the 3x requirement. This spreads the financial responsibility and reduces risk.
Are there alternatives to the 3x rule?
Some use 2.5x or 4x depending on market conditions. You can also consider debt-to-income ratios or require larger security deposits.
What income counts toward the 3x requirement?
Include salary, wages, bonuses, alimony, child support, and other reliable recurring income. Verify all sources with documentation.