NYC rent calculator
How much rent can you afford in NYC?
Most NYC landlords want yearly income of 40 times the monthly rent, so divide your yearly income by 40: $100,000 a year qualifies for about $2,500 a month. The median one-bedroom listed in NYC over the last 6 months asks $3,995, which needs about $159,800 a year.
Landlords usually add up everyone on the lease.
Apartment size
Highest rent at 40x
$2,500/mo
$100,000 a year divided by 40. A guarantor for this rent would need about $200,000 a year.
Cash at signing
$5,020
First month $2,500, security deposit $2,500 (capped at one month) and a $20 application fee. Movers not included.
Where that rent goes furthest
Neighborhoods whose median asking rent for this size is within your budget, closest to it first.
- ConcourseBronx$2,500
- MidwoodBrooklyn$2,500
- GlendaleQueens$2,500
- Jackson HeightsQueens$2,500
- Kew GardensQueens$2,500
- InwoodManhattan$2,498
- KensingtonBrooklyn$2,475
- KingsbridgeBronx$2,450
Neighborhood figures are median asking rents over the last 6 months from the NYC rent data. Got a listing with free months? Use the net effective rent calculator.
FAQs
Common questions
- How much rent can I afford in NYC?
- Most NYC landlords want yearly income of 40 times the monthly rent, so divide your yearly income by 40: $100,000 a year qualifies for about $2,500 a month. The median one-bedroom listed in NYC over the last 6 months asks $3,995, which needs about $159,800 a year.
- What is the 40x rule?
- It is a common landlord requirement, not a law: yearly income before tax of at least 40 times the monthly rent. Roommates on the same lease can usually combine incomes. If you fall short, a guarantor is often asked to earn 80 times the rent.
- How much cash do I need to sign a lease in NYC?
- Usually the first month's rent plus a security deposit, which New York caps at one month's rent, and an application fee of at most $20. Budget separately for movers.