Misleading article, 3.33x is the ration of monthly income to monthly rent

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Reader comment on:
As Rents Soar, Tenants Battle Apartment Qualifications

Submitted by Jacob, Feb 15, 2007 12:31

This article makes it seem that you must moake an outrageous amount more than rent. This, however compares yearly income to monthly rent which wil always be misleading. The more acurate figure is 40/12 = 3.33 which is the monthly income to rent ratio. This is the federal standard for the maximum amount of income that should be spent on rent.

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Other reader comments on this article

Comment	By	Date
So is that actual take home pay or a person's total annual income before deductions? [MORE]	jimkk	Feb 15, 2007 13:44
This article makes it seem that you must moake an outrageous amount more than rent. This, however compares yearly income...	Jacob	Feb 15, 2007 12:31
Here's a real life, bitterly painful example of how the 40x the rent rule squeezes a secret "rent increase" of... [MORE]	ANONYMOUS	Feb 15, 2007 11:59
In Brooklyn you can usually avoid the 40x thing. In my experience I've only seen that in Manhattan. [MORE]	Arkadius	Feb 15, 2007 11:38
2500/mo rent, must make roughly $120,000 a year. Frankly, I'm moving in soon and if I find out people are... [MORE]	cheap bastard	Feb 15, 2007 10:47
The extreme nature of the cost of living in Manhattan is not just relegated to the landlord's fees. Cheap Bastard,... [MORE]	Vassar Girl	Feb 22, 2007 19:30
This rule is arbitrary and often discriminates against those who are retired or on some form of disability income. It... [MORE]	ANONYMOUS	Feb 15, 2007 02:07

Reader comment on:As Rents Soar, Tenants Battle Apartment Qualifications

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As Rents Soar, Tenants Battle Apartment Qualifications