When renting an apartment, what does "income requirement 30%" mean?

Question

When renting an apartment, what does "income requirement 30%" mean?

Answer 1

Multiply your gross income by 30%.  That is what the landlord is referring to (possibly a deposit?).  Let's say you earn $2,000 per month.  30% is $600.

Answer 2

I think that 30% of your adjusted income must cover the rent...

If that is not met then I believe there is assistance, but I'm not sure. Depends on your area. In Wisconsin there is homestead credit you can get when you file your taxes.

Answer 3

it means that if you perform sexual favors for your landlord he can only charge you 30% of the monthly rent legally. and yes you must perform such favors every month to be eligible.

Answer 4

For you to get the apartment, the rent has to be 30% of your income or less.

Answer 5

I think it means that your rent should be 30% or less of your income.

Answer 6

It's a way to calculate if you make enough to afford the apartment.  

How to figure it out yourself:

Take the rent amount and divide by .30  

This amount is how much you must make to be able to qualify for an apartment with the 30% income requirement.

Example:  $850 rent - you must have $2833 in monthly income to qualify.

Answer 7

It means if the rent is 800 per month you must gross at least 240 per week in earnings.