Check your credit score and get closer to renting your new apartment
Credit Check for Renting
Check your credit score and get closer to renting your new apartment.
Average credit score to rent an apartment
There is no minimum credit score that will ensure approval when you apply to rent an apartment, as requirements vary by landlord and location. However, higher scores may increase the chances of approval. Get your free credit report from CreditWise to check your score before applying.
Credit Impact When Renting
Getting an apartment with little or no credit
Some landlords may factor in credit scores when considering a rental application. Even with little or no credit, it may still be possible to rent an apartment. For example, private landlords may assess preferences differently. You could also ask a family member or roommate with good credit to co-sign the application. Even if you don't have an extensive credit history, you can gradually build up your credit history while renting using personalized tips from CreditWise.
Credit Impact When Buying
Does paying or missing rent affect your credit score?
Rent payment isn't typically reported to credit reporting bureaus, so on-time or late rent payments likely won’t affect your credit score. However, if your landlord or property manager is enrolled with a rent-reporting service, your payment history may appear on your credit report.
Frequently Asked Questions
Does paying rent affect credit scores?
Rent payment only affects your credit score if it’s shared with credit reporting bureaus. Not all landlords are enrolled with rent-reporting agencies. It may be a wise decision to monitor your credit score if your landlord does report rent to an agency or if you are delinquent on payments.
Does late rent affect credit scores?
Being late with your rent might affect your credit score if your landlord is enrolled with a rent-reporting agency. In that case, rent paid over 30 days late may be reported and could possibly affect your credit score.
Can I rent an apartment with a credit score below 600?
It may be possible to rent an apartment with a credit score below 600. It will depend on the landlord’s preferences. A credit score is only one factor that may be considered on a rental application. Others may include income and references.
Related Resources
More CreditWise Resources
Know Your Score Before You Hunt For An Apartment