3x Rent Calculator

The 3x rent calculator helps you apply the 3x monthly rent rule, a guideline often used by landlords and property managers to assess whether a tenant can comfortably afford the rent. This rule generally means that tenants' total monthly income should be at least three times the amount of the rent. The 3x rent law considers the income before taxes and deductions.

This approach helps ensure tenants have enough to cover not only rent but also other living expenses and savings. Use our 3 times the rent calculator to learn how much is 3x the rent in general, e.g., what 3 times the rent of $1500 is.

Besides, you can use the rent calculator to compare your income to the rent price and plan your budget more efficiently.

The following formula is used to calculate the 3 times sent:

where:

• $\mathrm{three \ times \ rent}$ is the 3x rent or tenants' gross required income; and
• $\mathrm{monthly \ rent}$ is the total monthly rent.

It's that simple! Now that you know what 3x the rent is and how to apply the three times the rent rule, let's discuss more facts and examples regarding this value.

Let's consider several examples to understand how to calculate 3 times the rent:

1. What is 3 times the rent of $1500?

   You want to calculate your required income to afford to rent a specific apartment (aka three times the rent law).

   Let's consider the apartment rent price is $1500. You want to rent an apartment alone:

   $\mathrm{three \ times \ rent} = \$1500 \times 3 = \$4500$

   Hence, when someone asks how much is 3 times the rent, in this case, you can answer $\$4500$. This means your monthly income should be at least $\$4500$ to afford to rent this apartment. You can easily calculate this with our 3x rent calculator.

2. What is 3 times the rent of $1400 for two tenants?

   Let's discuss another example of how to calculate three times the rent. For instance, you want to calculate your income to afford to rent a specific apartment that you will share with your friend (meaning two tenants).

   Let's consider an apartment rent price of $1400. According to the 3x rent law, you should earn at least $\$4200$ monthly, but since you plan to live with your friend, you can divide it by two. This means both you and your friend's monthly income should be at least $2100, on average, to afford to rent this apartment. Note the 3x rent calculator has an option to take more tenants into account.

3. How to calculate 3x rent that you can afford.

   You want to calculate the apartment rent price you can afford with your and your partner's current income. Let's consider your income is $4000 gross and your partner's $2000. In total, you both have $6000 total income.

   You can enter this income in the 3x rent calculator in the last field. As a result, you will see the affordable monthly rent price calculated automatically.

4. How much is 3 times the rent if I earn $1500 net monthly?

   As we have already explained, whether 3x rent is gross or net, you should always consider gross income in the 3x rent law. Therefore, first check your gross monthly income, and then use the three times the rent calculator.

If your income doesn't meet the 3x rent guideline, don't worry! Not all landlords or property management companies are strict about this rule. The landlords can ask for 3 times the rent, but they may also be flexible if you have a strong credit score, a stable job, or can offer a larger deposit. You could also consider getting a roommate to share expenses or look for more affordable housing.

Using the 3 times rent calculator, you can adjust the number of tenants to see how the required income changes. Ultimately, it's important to understand your financial situation and budget carefully when renting. Make sure the rent fits comfortably within your means without overextending yourself.

The 3 times rent rule is based on your gross income, which is your income before taxes, deductions, and expenses. This gives a clearer view of your overall earning potential.

However, when planning for rent, it's important to also take into account your net income (after taxes) and monthly expenses to ensure your budget stays balanced.

Since you're here, you might want to use the rent or buy calculator to understand whether it is better to rent or buy an apartment. This calculator can be helpful if you want to compare the cost of renting to buying an apartment during a specific period. If you have already started considering the mortgage option, use our mortgage calculator, which addresses the multiple questions that may arise.