What income do you need for $5,500 rent?
The annual income a NYC landlord typically wants to see for a $5,500/month apartment, calculated using this site's own affordability engine, not a rule of thumb.
The 40× rule is a screening convention most NYC landlords and management companies apply, not a legal requirement or a check against your real savings or debts. Everything on this page is calculated from this site's default assumptions. Open the Rent Calculator to check your own income and savings.
Not every landlord uses 40×
| Income rule | Annual income needed |
|---|---|
| 35× monthly rent | $192,500 |
| 40× monthly rent (most common) | $220,000 |
| 45× monthly rent | $247,500 |
| Personal guarantor at 80× | $440,000 |
Institutional guarantor companies often look for about 27× instead and charge a fee; see how guarantor companies work and the 40x rule.
Cash to sign a $5,500 lease
| Landlord's broker, or no brokerFARE Act: the landlord pays a broker the landlord hired | $11,770 |
|---|---|
| You hired a broker (15% of a year's rent)Only if you engaged the broker yourself | $21,670 |
| With a guarantor company (70% of one month)If you don't meet the income rule; fee varies, commonly 60%–110% | $15,620 |
Each total is first month's rent, a one-month security deposit (the legal cap), the $20 application fee cap, $500 of building move-in fees, and $250 of utility setup, plus the broker or guarantor fee where shown. Movers and overlapping rent aren't included: add them on Cost to Move. See the FARE Act guide.
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