Hacker News Reader

It's definitely outdated, or at least location dependent. The average rent in Manhattan in 2/16 was $3,850. Landlords won't rent to you unless you earn 40x the monthly rent which is $154k. In Brooklyn, the average is $2,716 which ends up being $108,640. (http://www.mns.com/brooklyn_rental_market_report)

View on HN

Most people don't live in Manhattan or Brooklyn. If you live in a high COL area, adjust accordingly. I suggested using an approximate 2.3x multiplier elsewhere.

The most financially effective way to be a programmer is to work remotely for someone who pays SF or NYC salaries and live in a moderate COL area.

I've always seen the rental income requirement you stated phrased as "monthly income must be at least 3x monthly rent", in case the 40x thing threw anyone else off (40/12=3.33).

> Landlords won't rent to you unless you earn 40x the monthly rent

I've recently seen 45x monthly in Manhattan and LIC (Queens).

The loophole is a sublet where the person subletting (this is probably illegally) assumes the financial and personal risk.

Reply on news.ycombinator.com