How to Rent an Apartment When You Don't Make 3x the Rent

Falling short of 3 times the rent does not end the search. The quick answer to what happens if you don’t make 3 times the rent is that you need something else to offer. Landlords approve applicants under the line regularly when something else lowers their risk. First, run your numbers through the 3x rent calculator so you know the exact gap. Then work down this list.

1. Count all of your income

Many applicants who think they fall short have left income off the form. Landlords count documented income from any lawful source:

• Regular overtime, tips and commission
• A second job or steady side work
• Social Security, disability and other benefits
• Court-ordered child support or alimony
• A signed offer letter for a job that starts soon

Check your pay-period math as well. A paycheck every two weeks comes 26 times a year, so the monthly figure is the check times 26 divided by 12. See what counts as income for the full list.

2. Add a co-signer or guarantor

This is the most widely accepted fix. A co-signer or guarantor agrees to pay the rent if you cannot, and the landlord screens that person’s income and credit along with yours.

Expect the bar for them to be higher than yours. They have their own housing to pay for, so landlords want to see more room in their budget. Ask what the requirement is before you approach a relative.

It is a serious favor. A missed payment can reach the co-signer’s credit and wallet, and they stay liable for the whole lease term.

3. Put a roommate or partner on the lease

Most landlords add together the gross income of everyone who signs, so 3x the rent is based on household income. Two people earning $2,400 a month each make $4,800 combined, which clears 3x on a $1,500 apartment.

The person has to actually sign and be screened. Each signer is also responsible for the full rent, so choose with care.

4. Offer a larger security deposit

Some landlords will take extra security deposit in place of income. It works only where state law leaves room, because many states cap deposits at one or two months of rent.

In Portland, Oregon the city code spells this out: a landlord may ask an applicant below the income ratio for an additional deposit or a guarantor instead of turning them away.

5. Show savings

Bank or brokerage statements showing a solid balance can substitute for income, especially for retirees, students with family support, and people between jobs. There is no fixed formula, and the closer the balance comes to covering the full lease term, the more weight it carries.

6. Look for a lower requirement

Not every landlord uses 3x. Listings from individual owners, smaller buildings and income-restricted communities often screen at 2.5 times the rent or 2 times the rent.

Search listing pages for “times the rent” or “income requirement” and skip the ones you cannot meet. The 2.5x rent calculator and 2x rent calculator show what you qualify for at each level.

7. Ask before you apply

Application fees add up, and an automated system at a large property will decline you without discussion. A short message first saves money:

I earn 2.7 times the rent, have a credit score of 740 and four years of on-time rental history. Would you consider my application with a co-signer or an additional deposit?

Private landlords say yes to this more often than people expect. A long record of paying rent on time and a clean credit history are the strongest things you can offer.

8. Choose a rent you clear

Sometimes the honest answer is a cheaper unit. Divide your gross monthly income by 3 to find the highest rent you pass at without help. That is how you calculate 3x the rent in reverse. A $45,000 salary is $3,750 a month and supports $1,250 in rent.

That number is also a fair warning. The rule exists because rent above a third of income leaves little slack, and the 30% rule guide explains why the government sets its own line even lower.

What not to do

Do not alter pay stubs or bank statements. Landlords verify income with employers and through screening services, and a falsified application is grounds for denial and for eviction later, and it can be prosecuted as fraud. Every route above works without it.