Landlords are very particular about income requirements.  Your gross income should be at least 40 times your monthly rent.  Some landlords require income equal to 50 times your rent.  To calculate how much rent you can afford, multiply the monthly rent by 40 or 50.  If the monthly rent on an apartment is $2,500 per month, you will need an annual salary of $100-125,000. 

This income will need to be verified so be prepared to provide pay stubs, a letter of employment and a contact at your employer to confirm verbally.

For those who are self-employed, income verification will require additional documentation such as copies of tax returns for past two years.