Generally the more median rental amounts $600-$1000 tend to not waiver much with market shifts because the lower income households cant afford anything more and can't get a loan as easily to buy a home.

The fundamentals are job and household creations.

Also, Sheboygan has the most middle class households of any metro area in this study: https://www.pewresearch.org/fact-tank/2018/09/06/the-american-middle-class-is-stable-in-size-but-losing-ground-financially-to-upper-income-families/.Happy hunting!

Hi Peter, no the 3X means their household income needs to be at least 3* of the asking rent.  

I suppose your point would make sense in certain markets and class-C properties where the average renter/household is earning minimum wage and seeing a 100% increase over the next 3-5 years.

So when I showed her my plan, she pushed back since this was outside of our normal household practices.

Checkout the median household income by block group on vestmap.com.

Chinese military was present outside of all residential area, in Wuhan Only one person per household were allowed to go outside of their apt once/week, limited to grocery shopping. 

As someone mentioned, the general rule of thumb is to ensure their household gross monthly income is at least 3 times the rent amount. - Character evaluation- ask them a few questions such as: Where did you live before? 

And have the lease include household rules--clean up kitchen, bath, etc, who does it and when.