The rent to income ratio is how many times over the rental price the tenant makes in gross income per month. For example, if someone were to make $4,500 a month, and the rent was $1,500 a month, their income to rent ratio would be 3x, meaning that they make three times the amount that rent costs each month.
The benefit of using a rent to income ratio is that it allows both landlords and tenants a simple and clear way to gauge the financial feasibility of making the rent payments.
Zillow application calculates your renters rent to income ratio to help you and your renter determine if this rental is right for them.