In case you missed it

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

By Jennifer White Karp | May 23, 2022 - 12:30PM 

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 (like most people) 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 when landlords have vacant apartments they may offer concessions in order to fill them. Some New York City landlords offer a free month or two when the market is soft or the apartment is difficult to rent for some reason, which is a good thing for you as a renter.

[Editor's note: A previous version of the article ran in May 2021. We are presenting it again in case you missed it.]

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 maximum budget of $3,300, 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: 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 Gross Rent Calculator, below. Bookmark this page to keep this calculator handy as you navigate and compare 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


Jennifer White Karp

Managing Editor

Jennifer White Karp steers Brick Underground’s editorial coverage of New York City residential real estate and writes articles on market trends and strategies for buyers, sellers, and renters. Jennifer’s 15-year career in NYC real estate journalism includes stints as a writer and editor at The Real Deal and its spinoff publication, Luxury Listings NYC. She holds a B.A. from Wesleyan University and an MFA in nonfiction writing from the New School.

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.