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The median pay for professional photographers is $40,170 per year, according to the most recent data from the Bureau of Labor Statistics. That said, there is a broad range of earning possible, depending on what kind of photographer a person is and where they live.

Photography may become a more in-demand skill in the future, given what a visual culture exists today. Over the next decade, it’s anticipated that photographers will see job demand increase by 5% between 2022 and 2032, which is greater than the average for all professions.

Read on to learn more about the salary and other facets of a career as a photographer.

What Are Photographers?

A photographer combines technical expertise with creativity and composition skills to produce photographic images. Photographers can get paid to take wedding, family, or pet portraits; cover news events; work for businesses and brands shooting products; or create art — among many other types of photography work.

Many photographers are also skilled in editing photos. If a photographer works for themselves, they can also be responsible for running their business and everything that entails, from advertising to accounting to operations. There are so many directions a photographer’s career can take. Some photographers also teach the art of photography, help plan creative direction for photo shoots, or use drone technology to capture shots from the sky.


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How Much Do Starting Photographers Make a Year?

When they are earning an entry-level salary, how much money a photographer makes is typically on the low end of the spectrum. Their earnings will likely grow as they gain skills and experience and make connections in the industry.

The lowest 10% of photographers earn less than $12.98 per hourly pay. That may be a good starting point if you are wondering about starting salaries.

Keep in mind that photographers in different locations and areas of focus will make an array of salaries. For instance, someone who takes baby portraits for new parents in a small town will likely never earn as much as a high-fashion photographer in a major city who is being paid by corporate clients. The latter could make $100,000 a year or considerably more.

Recommended: What Trade Makes the Most Money?

What is the Average Salary for a Photographer?

The average salary for a photographer can depend a lot, as already noted, on where someone lives. While the median annual income for this role is $40,170, the following table illustrates how the state a photographer chooses to work in can impact their potential earnings and determine if it’s a high-paying job.

What is the Average Photographer Salary by State for 2023

💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Photographer Job Considerations for Pay & Benefits

While photographers can often choose to set their own rates, they are also usually self-employed and therefore responsible for securing their own benefits. For instance, they won’t have access to an employer-sponsored 401(k) plan or healthcare benefits. There are some exceptions to this rule. For example, if a photographer works for a large corporation or photo studio, they may receive access to traditional employee benefits like paid time off and a retirement plan contribution match.

Other considerations can be how a career as a photographer can impact your lifestyle. If you are a news photographer, you may find that you have to be available for extended periods, whenever a situation comes up that needs documenting. If you are a travel photographer, which can sound like a dream job, you likely won’t have a typical week-to-week schedule. And if you are a wedding photographer, you will likely be spending many weekends shooting ceremonies vs. kicking back with your family.

There are some photography jobs, such as taking pictures of a product, that may not involve that much social interaction, but many kinds of photography careers do involve working with people non-stop. For this reason, it may not be the best job for antisocial people.

Pros and Cons of Photographer Salary

The main advantage of a photographer’s salary is there is no real cap on how much they earn. For example, in-demand wedding photographers or photographers who license their images for products can all demand high rates for their work. On the flip side, their salaries are often not consistent, which can be very stressful. Also, when you are self-employed, taxes can take a bite out of your earnings.

Recommended: What Is Competitive Pay?

The Takeaway

Working as a professional photographer can be a creatively fulfilling, fun, and lucrative career. Worth considering, though: How much a photographer stands to make depends a lot on their specialty, where they live, and their level of experience.

See exactly how your money comes and goes at a glance.

FAQ

Can you make 100k a year as a Photographer?

It is possible to earn $100,000 or more a year as a photographer — the sky really is the limit when it comes to income potential in this field. However, the median annual income for this role is $40,170, but photographers can earn more over time as they gain experience and a strong reputation in their industry.

Do people like being a photographer?

Many people who pursue a career in photography do so because it is a creative pursuit they are truly passionate about. Many positions can provide flexibility and fun experiences (say, if you are a travel or wedding photographer).

Is it hard to get hired as a photographer?

It can be very hard to find a job as a photographer if you don’t have the skill set required to get the job done well. Taking some time to build a strong portfolio of your work and then marketing your business can make it much easier to get hired.

Photo credit: iStock/ivan101

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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The current median annual salary for a radiology tech is $67,180 or $32.30 per hour, according to the Bureau of Labor Statistics. This career can be a good option for those who want to work in the medical field but don’t want to attend medical school. This role typically only requires an associate’s degree, so it can be easy to pursue this career without taking on a ton of student loan debt.

For those who wonder how much a radiology tech makes, read on for details and what else you should know about this career and its earning potential.

What Are Radiology Techs?

A radiology technologist, also known as a radiographer, is a healthcare professional responsible for conducting X-rays and other diagnostic imaging procedures on patients. It typically offers a medical career path without a college degree or graduate-level degrees. It therefore can sidestep many additional years of training and the expense of that education.

The key duties of radiology techs include:

•   Adjusting and maintaining imaging equipment

•   Adhering to precise instructions from physicians regarding the targeted areas of the body for imaging

•   Preparing patients for procedures by collecting medical histories and shielding unnecessary exposed areas

•   Positioning both the patient and equipment to obtain accurate images

•   Operating computerized equipment for image capture

•   Collaborating with physicians to assess the images

•   Deciding if further imaging is necessary

•   Helping to maintain patient records.

If you’re a “people person” who enjoys interacting with patients and colleagues daily, this position could be a good fit. However, as a job for introverts, it may not be enjoyable due to the social aspect.


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How Much Do Starting Radiology Techs Make a Year?

When someone is working as an entry-level radiology tech, they can expect to earn less than their more experienced coworkers. The median annual wage for the lowest 10% of earners in this role is less than $47,760.

In terms of how much an experienced radiology tech could make, the highest 10% earn more than $97,940. Being able to earn close to $100,000 is a good salary for a role that only requires an associate’s degree.

What is the Average Salary for a Radiology Tech?

While the median annual wage for a radiology tech is $67,180, where someone lives can greatly impact how much they stand to earn. For example:

•   Florida radiology techs can expect to earn an average salary of $66,051.

•   Those working in Oregon earn an annual salary of $108,714.

The following table sheds more light on how radiology tech salaries and hourly wages stack up.

It will give you a detailed look at how earnings vary by state.

What is the Average Radiology Tech Salary by State for 2023

Source: ZipRecruiter

Radiology Tech Job Considerations for Pay & Benefits

Most radiologic and MRI technologists work full time. Because imaging is sometimes needed in emergency situations, some technologists work evenings, weekends, or overnight.

Almost six out of 10 radiology techs work in hospitals; about 20% work in medical offices. One thing to note is that, as you would expect, the job involves working with potentially dangerous radiation, so appropriate protective clothing may be worn and safety practices followed.

Recommended: What Trade Job Makes the Most Money?

Pros and Cons of Radiology Tech Salary

Because radiology techs stand to earn a solid income without having to pursue higher education, there aren’t any real disadvantages to their salary. The main disadvantage of the job though is being exposed to infectious diseases through patient interaction and equipment that uses radiation. Safety procedures are in place to help offset these risks, but some people may not find the salary worth it in light of the risks.

Benefits will of course vary depending on where a radiology tech works. Packages may include health insurance, paid sick days and vacations, retirement account matching contributions, and more.

Recommended: Best Jobs for Antisocial People

The Takeaway

Working as a radiology tech can be a great way to earn a living in the medical field without having to commit to the major time and expense that comes with pursuing careers like nursing or becoming a doctor. It can offer a solid salary, benefits, and the satisfying work of helping people with their health care.

With SoFi, you can keep tabs on how your money comes and goes.

FAQ

Can you make 100k a year as a radiology tech?

It is possible to earn $100,000 a year as a radiology tech but being able to do so depends on what state someone works in, as well as other factors like experience. For example, the average annual salary of a radiologist tech in Oregon, Alaska, and North Dakota is well over $100,000.

Do people like being a radiology tech?

Being a radiology tech can be very enjoyable if someone finds the work interesting and if they enjoy interacting with patients. However, for those who don’t like being in a health care setting, repeating procedures, or working with potentially dangerous radiation, it may not be a good fit.

Is it hard to get hired as a radiology tech?

Those who want to work as a radiology tech and who have the required credentials should have no problem doing so. The job outlook for radiology techs is positive with a projected 6% growth from 2022 to 2032, which is faster than the average for all occupations. Each year, approximately 15,700 job openings for this role are expected to be available.

Photo credit: iStock/monkeybusinessimages

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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The most recent mean annual salary for teachers nationwide is $66,450, according to the Bureau of Labor Statistics. However, there can be considerable variation depending on where a person lives, what level of student they teach, how much experience they have, and other factors.

Working as a teacher comes with an equal set of challenges and rewards. Being able to help shape young minds can be very fulfilling as well as challenging.

Want to learn more about how much teachers make and what the role entails? Read on for more insight.

What Are Teachers?

Working as a teacher can look a bit different depending on whether the teacher works in an elementary, middle, or high school setting. That being said, all teachers create lesson plans and deliver those lessons to their students. They often work individually with students who need a bit of extra support and can help foster social and emotional development. Alongside instructing pupils, they grade assignments, write report cards, and meet with parents to help them understand their child’s education progress.

Teaching may not be the right career for those who are introverts. It typically involves interacting with students, their parents, and other faculty members for much of the workday.

Worth noting: Qualifications for teaching can vary. Teachers may be required to have certificates in order to teach, which can mean time, energy, and expense to attain those credentials.


💡 Quick Tip: When you have questions about what you can and can’t afford, a spending tracker app can show you the answer. With no guilt trip or hourly fee.

How Much Do Starting Teachers Make a Year?

Like many chosen career paths, working as an entry-level teacher often comes with a lower salary. How much money might a teacher make a year when they are first starting out? The mean salary for the lowest 10% of earners in this role nationwide is $30,230.

Incidentally, some teachers do rise to earn six figures. As teachers gain years of experience, they can increase their salary (the top 10% of earners make $102,800 per year).

What is the Average Salary for a Teacher?

Regarding how much a teacher can expect to earn on average, as briefly noted earlier, the national mean is $66,450. That being said, the state you work in can greatly impact how much they earn. Cost of living and other factors are responsible for the variation in salaries, which can be significant. For example:

•   The average annual salary in Florida is $32,088.

•   In Oregon, the average is $52,816.

Prospective teachers can review the following chart to learn more about what their salary and hourly wage expectations should be in their state.

What is the Average Teacher Salary by State for 2023

Source: ZipRecruiter

Recommended: What Trade Makes the Most Money?

Teacher Job Considerations for Pay & Benefits

How much a teacher earns and what type of benefits they qualify for can depend on if they choose to work as a full-time teacher or as a substitute teacher. If someone works as a substitute, they are generally paid a day rate only for the days they work and don’t qualify for benefits like health care or retirement plans.

However, working as a substitute teacher can be a great job for retirees looking to earn a bit of extra cash without committing to a consistent part-time work schedule. It might be good for someone who has a side hustle going or can fill in free days with work as, say, a rideshare driver or babysitter.

Full-time teachers generally qualify for those benefits and other traditional employee benefits like paid time off for sick and personal days. Some may even still qualify for pensions, which can be a real plus when it comes to retirement planning.

There’s also the fact that school is out in the summer. Some teachers may love this time off and want that family time. Others may choose to teach summer school or at a camp or otherwise bring in extra income. Still others may use that time for creative or entrepreneurial projects, but it’s important to note whether or not you will receive a paycheck during those months.


💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Pros and Cons of Teacher Salary

Still on the fence about becoming a teacher? These are some of the common pros and cons associated with the salary.

Recommended: How to Negotiate for Competitive Pay

The Takeaway

The average teacher salary in the US tops $66,000. If someone has a passion for teaching and likes working with young people, they will likely love their job. There are also valuable benefits that may be available, such as paid vacations and summers off.

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FAQ

Can you make 100k a year as a teacher?

It is possible to make $100,000 a year as a teacher, which is a good salary. The 90th percentile of earners in this role nationwide brings home $102,800 annually. Teachers tend to see higher salaries as they gain years of work experience.

Do people like being a teacher?

Working as a teacher can be very hard work, but it is often very rewarding. Those who enjoy working with children and helping them learn will find they get a lot out of being a teacher. However, if they consider themselves to be antisocial, they may find this role very draining.

Is it hard to get hired as a teacher?

How challenging it is to get hired as a teacher can vary by location and year. It simply depends on what the current demand for teachers is. It is generally harder to find a role as a public school teacher as those jobs require having specific advanced degrees.

Photo credit: iStock/baona

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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While the median annual salary for delivery drivers as of 2022 is $38,220, according to the Bureau of Labor Statistics, data from Zippia suggests that salaries in the $40K to $60K realm are possible. What’s more, UPS reports that the average overall compensation package for a full-time UPS delivery driver is $145,000, which reflects the benefits package that employees can receive.

For those who like working independently and being behind the wheel, a career as a UPS (United Parcel Service) driver could be a good fit. Keep reading for a breakdown of how much UPS drivers can earn and what this role entails.

What Are UPS Drivers?

UPS drivers pick up and deliver packages on a designated driving route for the UPS, a global package delivery and logistics company. They can have routes that include stops at residential and business addresses. You may well be familiar with the brown UPS trucks arriving and departing from your home or workplace.

Being a UPS driver can be a good option for introverted people since much of the day is spent solo, though there can be some social interaction when dropping off packages and getting signatures for them. Also, obviously, a UPS driver will need to be comfortable behind the wheel, in traffic, and ensuring that parcels get from point A to point B.

In terms of qualifications, you will likely need to be at least age 23, have a clean driving record, be trained to drive a truck, and be able to physically move packages of a certain weight (say, up to 70 pounds). If you have these qualifications, being a UPS driver can be a good-paying job without a college degree being required.


💡 Quick Tip: When you have questions about what you can and can’t afford, a spending tracker app can show you the answer. With no guilt trip or hourly fee.

How Much Do Starting UPS Drivers Make a Year?

If someone is new to working as a UPS driver, they shouldn’t expect to earn a top salary just yet. If you’re wondering how much a UPS delivery driver makes when they are entry-level, the lowest 10% of earners can expect to earn less than $26,740.

Recommended: Is $100K a Good Salary?

What Is the Average Salary for a UPS Driver?

You’re probably curious about how much a UPS driver can make annually, or on salary vs. hourly.

The answer to that question depends greatly on what state they work in. As the table illustrates below, the average hourly pay for UPS drivers can range from $19.56 to $30.05.

These figures are well above the national minimum wage.

What Is the Average UPS Driver Salary by State for 2023

💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

UPS Driver Job Considerations for Pay & Benefits

A job as a UPS driver can appeal to those who have not earned a college degree and those who enjoy driving. However, this can be a physically demanding job, considering you are behind the wheel and carrying packages all day, and it may be stressful to be in traffic or dealing with the pressures of getting packages to their destination. Many workers, however, will enjoy the independence. It can be a good job for antisocial people, too.

Along with receiving a salary, UPS drivers also gain access to valuable employee benefits. This table highlights the current benefits for UPS drivers.

Pros and Cons of UPS Driver Salary

There aren’t any notable cons associated with the UPS driver salary. These roles are in high demand and often regarded as having competitive pay and great employee benefits. The real question may be whether the job suits a particular employee’s needs and if they enjoy the challenges of the job, such as driving all day.

Recommended: How Much House Can I Afford?

The Takeaway

The average full-time truck driver in the US makes $38,220 a year, but UPS workers seem to average in the $40k to $60k range. In addition to pay, UPS drivers gain access to valuable employee benefits like employer-sponsored healthcare, paid time off, and a pension plan. These benefits can help people balance their budget and enjoy quality of life, personally and financially.

FAQ

Can you make 100k a year as a UPS driver?

Yes, it may be possible to make $100,000 or more a year as a UPS driver, depending on where you work, how long you have been on the job, and what your specific role is. UPS drivers earn good salaries and on average, full-time drivers earn a compensation package of up to $145,000, according to UPS.

Do people like being a UPS driver?

Many people enjoy being a UPS driver due to the independent and consistent nature of the work. Those who would prefer to spend their days on their own versus working on a team could enjoy this role.

Is it hard to get hired as a UPS driver?

Because UPS drivers earn good salaries and have robust benefits packages, these can be competitive roles to land. That being said, UPS hires drivers all across the country so there are many job opportunities with this company.

Photo credit: iStock/sturti

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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While there’s no universally required credit score needed to rent an apartment, having a solid credit score can certainly help your chances of a landlord handing you a set of keys. 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. However, that can vary by landlord or property manager, as well as the location in which you’re renting.

Read on to learn more about how your credit score can affect renting an apartment — and how you can approach renting if you have a lower credit score.

What Credit Score Do I Need to Rent an Apartment?

Truth is, the answer to what credit score you need to rent an apartment is a bit squishy. In general, you’ll have a better chance of approval if your credit score is at least deemed “good.”

What’s considered good? Credit scores are generally classified as follows per FICO® (keep in mind that different scoring models may vary):

•   Exceptional: 800-850

•   Very good: 740-799

•   Good: 670-739

•   Fair: 580-669

•   Very poor: 300-579

There also are variables that can affect whether your credit score qualifies you to rent an apartment. For example, if you live in a city where there is huge demand for apartments, landlords may give preference to those with higher credit scores.


💡 Quick Tip: What is credit monitoring good for? For one, maintaining a high credit score can translate to lower interest rates on loans and credit card offers with more perks.

Can You Get an Apartment if One Person Has Bad Credit?

If one person has bad credit, know that it will likely make it tougher for you to get an apartment. Landlords have a lot of leeway and can follow criteria of their choosing.

Still, it’s not impossible even if it is trickier. One smart strategy in this situation is to put the lease in the name of the person whose credit and income is best. You could also offer to show your income or provide a reference.

What Landlords Look at on Your Credit Report

When your landlord reads your credit report, they will be looking for clues about your financial health and habits.

Of much importance is your debt-to-income ratio. In a nutshell, this is the amount of your monthly pre-tax income that gets spent on debt payments. It’s certainly not news to you that filing for bankruptcy can have a negative impact on one’s credit. A landlord also may be spooked if you have hefty credit card balances.

Your credit history disclosed on your credit report also may include your rental history, since some landlords and rental property managers share your data with the credit bureaus. This can be a plus if you’ve been doing the right thing; if not, this can work against you.

Too many hard inquiries also can raise red flags for a landlord. This is because frequently applying for different types of credit could suggest financial instability, which increases risk in the eyes of lenders — as well as landlords.

How to Rent an Apartment with a Lower Credit Score

Just because your credit score isn’t stellar doesn’t mean you’re resigned to sleeping on a friend’s couch or living with your parents. There are ways to rent an apartment even with a lower credit score.

Pay a Higher Security Deposit

One way to show that your credit history is just history is by offering to make a higher security deposit. Say you are required to pay first and last month’s rent upfront. To sweeten the deal, maybe you tack on a couple additional months of rent.

If you want to instill confidence in your potential new landlord, this might do it. Just make sure you actually have the room in your budget to offer up the cash.

Recommended: What Is The Difference Between Transunion and Equifax?

Get a Cosigner

While getting a cosigner may put a damper on feeling like you’re finally a grownup, it may be worth sucking it up and getting a creditworthy parent or other trusted individual to cosign for your apartment. This can give your landlord peace of mind if someone is willing to pay the rent on your behalf if you’re unable to.

Just keep in mind that your cosigner will be on the hook if you miss a payment, and that cosigners generally must meet even steeper credit score and income requirements.

Play Up Your Income

Maybe your credit score is nothing to brag about, but you’ve worked hard and now have your finances in order, with solid savings and a good income. If you could show that you earn three or four times your rent on a monthly basis, that might divert attention from your lousy credit score. Additionally, if you have a solid stash in your savings account, that can also give your landlord assurance that you have the funds to cover your monthly rent.

Consider Getting a Roommate

Adding a roommate to your lease or rental agreement can increase your creditworthiness and your qualifying income. This is especially the case if you can find a roommate with good credit — and get your landlord to pull their credit first.

Benefits of Good Credit When Renting an Apartment

A landlord needs more than their gut instinct to help them determine who to rent to, which is why a credit score carries a lot of weight when it comes to getting your rental application approved. A good or — better still — an excellent score can give landlords the confidence to consider you for the apartment, especially if all other signals they get when checking on your background indicate they should give you the green light.

Having a solid credit score can help you to snag the apartment you want, and avoid the hassles associated with trying to secure an apartment when your credit isn’t as great, such as getting a roommate or a cosigner. Especially if you live in a city with a competitive rental market, a good credit score can be a serious edge.

How to Monitor Your Credit Score

Ideally, you want to check your credit and get a copy of your credit report before you start apartment hunting. It’s important to know where you stand, and if there are any errors, you want to fix them right away.

Through the end of 2023, you can get free weekly credit reports from the three national credit reporting agencies, Equifax, Experian and TransUnion.

To get your free reports, simply go to AnnualCreditReport.com .

While your credit report provides information on your various credit accounts and their balances and your payment history, it does not include your credit score. You can check your credit score by looking at a loan or credit card statement or through an online credit score checker. You can also buy a score directly through credit reporting companies. Even if you might have checked your credit score not that long ago, don’t skip doing so again — your credit score updates every 30 to 45 days.

If your score is low, consider taking steps to improve it before jumping into your apartment search. Actions like paying down credit card balances and making sure you don’t have any more late or missed payments for a stretch can show progress.

Recommended: What Credit Score Is Needed to Buy a Car?

What to Expect in 2024

According to Zillow, demand for rentals will remain strong this year. There’s an increase in the number of buildings under construction, and vacancy rates are close to what they were before the pandemic.

Market rental rates are slowing down, but that doesn’t mean housing prices are cheap. Apartment rents have risen 23.6% since the start of the pandemic. Inflated prices could lead to a rental market that is even more competitive, which may not bode well for those with less than stellar credit.


💡 Quick Tip: One way to raise your credit score? Pay your bills on time. Setting up autopay can help you keep your account in good standing.

The Takeaway

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.

If you have the luxury of time, do what’s necessary to improve your score so that when you begin your search, you’ll be an ideal candidate. An online credit monitoring tool can make it easier.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

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SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

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