Good credit is crucial for approval, and it can also help keep your deposit amount low.

Over. the past three years,  the average credit score needed to rent an apartment has been going up one point each year. Specifically, according to Rentcafe.com's analysis of more than 5 million lease applications nationwide, the average credit score of renters in the U.S. was 638 in 2020.

You should also knowcredit scores can also vary widely in different types of buildings. For example, renters in high-end buildings had an average credit score of 669 last year – just 43 points separated them from renters living in mid-priced buildings, whose average score was 626. Meanwhile, the credit score of those living in low-end buildings was 597, exactly 29 points below that of renters in mid-range apartments.

Learn more from RentCafe.com