Best of Brick

Brick Underground’s Gross Rent Calculator: How to figure out the rent you’ll actually owe each month

By Brick Underground  | August 27, 2021 - 9:30AM 

Even if you set your search parameters to fit your budget, the results you get and what you may unwittingly fall in love with may actually be more expensive.

Brick Underground

New York City is an expensive—and tricky—place to rent. If you’re on a budget (and really who isn’t) you need to know exactly how much you are going to be paying every month. But sometimes the rent you see advertised for an apartment that you have your heart set on is not the rent you pay—ouch!

That’s because some New York City landlords offer a free month or two when the market is soft, like it is now, or the apartment is difficult to rent for some reason, which is a good thing for you as a renter. With so many vacant rental apartments to fill, many landlords offer concessions such as free months in order to fill them.

[Editor's Note: A previous version of the article ran in May 2021. We are presenting it again here as part of our summer Best of Brick week.]

Here's where it gets tricky: Landlords use that concession to advertise the apartment at a lower, net effective rent.  Essentially this means they take the discount and shave a little off each month, so when they advertise, it looks less expensive than it actually is. So an apartment that’s advertised with a net effective rent of $3,300 with one month free on a 12-month lease may actually have a lease that says it is $3,600 a month.

Even if you set your search parameters to fit your budget of $3,300 maximum, the results you get and what you may unwittingly fall in love with—may actually be that more expensive apartment.

To be clear, it’s not a scam to list an apartment by its net effective rent, but it can feel like something akin to a bait and switch. If you’re not paying attention, or you lack the patience or math skills required to calculate the actual rent, you will be in for a nasty surprise. It's also important to consider that when you renew your lease and the landlord decides to raise the rent, it will be based on the higher, actual rent, called the gross rent.

Fortunately, it takes only a couple of seconds to figure out the real rent using Brick Underground’s new Gross Rent Calculator, below. Bookmark this page to keep this calculator handy as you navigate and compare the growing number of listings that advertise net effective rents versus the amount you'll actually need to fork over each month.


Brick Underground's

Gross Rent Calculator

What's this?

Some New York City landlords offer a free month (or more) at the beginning or end of a lease. The advertised rent is the net effective rent.  The net effective rent is less than the amount you will actually have to pay --- known as your gross rent --- during your non-free months.

Brick Underground's Gross Rent Calculator enables you to easily calculate your gross rent, make quick apples-to-apples comparisons between apartments and avoid expensive surprises. All you'll need to figure out your gross rent is 1) the net effective rent, 2) the length of your lease, and 3) how many free months your landlord is offering.  [Hint: Bookmark this page for easy reference!]

To learn more about net effective versus gross rents, read What does 'net effective rent' mean?.

Per Month

If the landlord is offering partial months free, enter it with a decimal point. For example, 6 weeks free rent should be entered as 1.5 months.

Per Month


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