The lowest credit score needed to rent an apartment can vary depending on the landlord, property management company, and location, but here’s a general breakdown:
- Ideal/Preferred: 650–700+ — Most landlords consider this a safe score.
- Acceptable: 600–649 — You may still qualify, but you might need a higher security deposit or a co-signer.
- Risky/Low: 550–599 — Some landlords may approve, but expect stricter conditions like larger deposits or proof of stable income.
- Very Low: Below 550 — It’s very difficult to rent; most landlords will deny the application unless you can provide a strong co-signer or pay several months’ rent upfront.
Tip: Even if your score is low, demonstrating stable income, solid rental history, or offering a larger security deposit can improve your chances.
Simple table to help you see what credit score and income might be needed to rent a $1,500/month apartment:
| Credit Score | Approval Likelihood | Income Needed (Approx.) | Other Requirements |
|---|---|---|---|
| 700+ | High | $4,500/month (3× rent) | Standard application |
| 650–699 | Medium-High | $4,500–$5,000/month | Might need small deposit increase |
| 600–649 | Medium | $5,000–$5,500/month | Larger deposit or co-signer likely |
| 550–599 | Low | $5,500–$6,000/month | Co-signer or multiple months’ rent upfront |
| <550 | Very Low | $6,000+/month | Co-signer, 3–6 months’ rent upfront, strong rental history |
Notes:
- Most landlords want your monthly rent to be about 1/3 of your monthly income.
- Security deposits can range from 1–3 months’ rent if your credit is low.
- Having a strong rental history or co-signer can help offset a low credit score.