Why do you need $1500 a month to afford a 3br house in City A where the rent's $500 a month?

Question

but you need $2000 a month in City B to afford a 2br house that's $495 a month?

Anonymous · Answer

The minimum requirement is 100% up to each individual landlord.  The 3x the rent is the recognized standard but not all landlords use it nor are they required to.

tro · Answer

landlords base their acceptance on tenants that they make 3 times what the rent it to be able to afford the place

Elaine M · Answer

Which utilities are you responsible for?  Do you pay for a parking spot in one of the apartment rentals?  How much of a cost of living change is between the two places?  Etc.

Maxi · Answer

Most LL work on earning of x3, however some work on earnings of x4...... so difference in LL

Stan · Answer

It depends on the location.

curtisports2 · Answer

Because some landlords require your earnings to be four times the rent and some only require three. Number of bedrooms is not part of the equation.

Judy · Answer

Maybe overall cost of living in city B is higher, or it might be just a particular landlord's requirement.

hotstuffktr · Answer

Cost of auto insurance, food.  Level of state sales taxes and income taxes, etc.

LILL · Answer

It all depends on the landlords policies.

Why do you need $1500 a month to afford a 3br house in City A where the rent's $500 a month?

9 Answers