When you apply to rent an apartment, you can expect nearly all landlords to run a credit check. As a general rule, you'll want a credit score of 620 or higher to secure a rental. But there's no hard and fast number: it varies by landlord, and it's only one factor in your rental application.
Can you get an apartment with a credit score of 500?
Though this is below the recommended minimum of a 600 credit score, you can get an apartment with a 500 credit score.
>
Can I rent with a 600 credit score?
Most landlords require prospective tenants to have a credit score of 600 or above to approve their rental application. This number will be higher if you're considering a particularly upscale rental, or if you're trying to get a place in a big city with a lot of renters, like New York or Los Angeles.
What credit score do you start with?
Most people's initial credit scores are between 500 and 700 points, depending on the steps taken when establishing credit. However, you won't have a credit score to report if you've never opened a credit account. Read on to learn more about your starting credit score and how to build your credit over time.
>
What is the lowest credit score to accept a tenant?
2) The Standard Requirement is 620 and Above. The average accepted credit score for a rental can vary greatly depending on the region, the property, and even your preferences. A good starting point for many landlords conducting a tenant screening seems to be at around a 620 or above to be eligible for consideration.
What credit score do I need for an apartment?
You'll want to shoot for having a good credit score — generally in the range of 570-739 — to get an apartment. While you may be able to still get an apartment if you don't have solid credit, it will make it more challenging with the competition you're likely to face.
How to Rent an Apartment With Bad Credit https://t.co/ynns1wvt95
— Daniel Bortz (@DanielBortz) August 2, 2021
What credit score will get you a apartment?
2) The Standard Requirement is 620 and Above
The average accepted credit score for a rental can vary greatly depending on the region, the property, and even your preferences. A good starting point for many landlords conducting a tenant screening seems to be at around a 620 or above to be eligible for consideration.
Frequently Asked Questions
Which FICO score do landlords use?
Landlords focus more on your actual credit information rather than deciding rental agreements based on your credit score alone. When credit scores are considered as part of your overall credit information, a score above 670—on a FICO® Score range of 300 to 850—generally indicates good creditworthiness.
What is an OK credit score to rent?
It's simply a business decision. Most individuals or companies renting an apartment want credit scores from applicants to be 620 or higher. People with credit scores lower than 620 may indicate a high risk of default on rent owed.
Can I get an apartment with a 638 credit score?
Officially, there's no minimum credit score to rent an apartment. While a higher score may improve your chances of approval, every landlord is different. According to a study conducted by RentCafe, the average credit score for renters in 2020 was 638.
FAQ
- What credit score is needed for an apartment?
- You'll want to shoot for having a good credit score — generally in the range of 570-739 — to get an apartment. While you may be able to still get an apartment if you don't have solid credit, it will make it more challenging with the competition you're likely to face.
- What is the minimum credit score for most apartments?
- In general, a landlord will look for a credit score that is at least “good,” which is generally in the range of 670 to 739.
What kind of credit do you need to rent an apartment
| What credit score will get you denied for an apartment? | By most landlords' standards, the minimum credit score to rent an apartment is 620. But many landlords look past the credit score and search for specific activity on a potential tenant's credit report. |
| What FICO score is used to rent an apartment? | Although there's no set credit score you need to rent an apartment, a score above 600 is what most landlords look for. However, Chris Fluegge, Director of Operations at the National Landlord Association, says many landlords take a bigger-picture approach that goes beyond just the credit score. |