NYC rent calculator
Net effective rent calculator
The average monthly cost of a lease once free months are spread over it. A $3,600 lease with 1 month free over 12 months has a net effective rent of $3,300: $3,600 x 11 / 12.
Net effective rent
$3,300/mo
What the lease costs per month on average once the 1 free month is spread over 12 months.
Rent on the lease
$3,600/mo
What you pay in the months that are not free, and the figure a renewal usually starts from. Over the whole lease you pay $39,600.
Checking whether you qualify? The NYC rent calculator shows the highest rent your income allows under the 40x rule.
FAQs
Common questions
- What is net effective rent?
- The average monthly cost of a lease once free months are spread over it. A $3,600 lease with 1 month free over 12 months has a net effective rent of $3,300: $3,600 x 11 / 12.
- How do I find the gross rent from a net effective rent?
- Multiply the net effective rent by the lease months and divide by the months you pay: $3,300 x 12 / 11 = $3,600. That is the rent written on the lease.
- Why does the gross rent matter?
- You pay the gross rent in every month that is not free, and a renewal offer usually starts from it, so the free month rarely repeats. Compare listings on net effective rent, but budget for the gross.