What is the 30% rule for rent?

It is the long-standing guideline that you should spend no more than 30% of your gross income on rent. The calculator flags rent as affordable when it is at or below 30% of your gross monthly income.

What is the 40x rent rule in New York City?

Many NYC landlords require that your gross annual income be at least 40 times the monthly rent. So a $3,000/mo apartment typically requires $120,000 a year, or an approved guarantor who earns 80x.

How much is a typical 1-bedroom in New York City?

The median asking rent for a 1-bedroom in New York City is roughly $3,500 a month, though prices vary widely by borough and neighborhood, from under $2,500 in parts of the outer boroughs to well over $4,500 in prime Manhattan.

Is my income data private?

Yes. All calculations run locally in your browser. Your income and rent figures are never sent to a server or stored anywhere.

New York City Rent Affordability Calculator

New York City rent affordability calculator

See whether a New York City rental fits your budget using the two checks renters actually face: the personal 30%-of-income rule and the landlord’s 40x annual rent requirement. Enter your income and the rent, and the tool tells you if it passes, how it compares to the ~$3,500 median 1-BR, and the income you’d need.

How it works

Two rules drive the result. The 30% rule compares monthly rent to 30% of your gross monthly income — at or below that line is considered affordable. The 40x rule, used by most NYC landlords, requires gross annual income of at least 40 times the monthly rent. The formulas are:

affordable_rent = gross_monthly_income * 0.30
required_income_40x = monthly_rent * 40

If you fall short of 40x, landlords typically accept a guarantor earning 80x the monthly rent instead.

Example and notes

On a $90,000 salary, 30% of monthly income is $2,250 — so a $3,500 apartment is above the comfortable line, and the 40x rule wants $140,000 for it. To clear 40x on $90,000 you’d target rent at or below $2,250/mo. The NYC median 1-BR (~$3,500) generally needs about $140,000 a year under 40x. Estimates for guidance only.