Some families looking to settle in Lexington may have just arrived from Korea. They may have sufficient income documentation but lack a credit score in the U.S. Their credit history may be nonexistent or only a few months old. In such situations, they often ask whether they can sign a rental agreement.

Lexington is part of the Boston Metro area. Many rental management companies in this area require a credit score of 700 or higher. Independent landlords may accept scores between 650 and 680, but they will scrutinize income and rental history closely. This standard is based on the credit score guide from BostonRenting.org, as of 2026.

Rent prices also need to be considered. The average rent for a one-bedroom in Lexington is $2,839 according to data from apartments.com in July 2026. Rent.com lists it at $2,893, while Apartment Finder cites $2,988. All three sources indicate a range in the high $2,800s to nearly $3,000. With rent at this level, management companies will also have strict income requirements, typically asking for more than three times the monthly rent in income.

If the credit score is insufficient or nonexistent, the most common solution is to have a cosigner. If the cosigner has stable income and a credit score of 700 or higher, the rental process becomes much easier. If finding a cosigner is difficult, rental guarantee insurance is also an option. Companies like The Guarantors or Insurent offer this service, with costs ranging from 4.5% to 10% of the annual rent.

Massachusetts has a law that limits security deposits to one month's rent. Families moving from other states may overlook this aspect. If they previously lived in a state where two or three months' rent was common for a security deposit, they should check whether they are being asked for more than the legal limit in Massachusetts. Specific criteria may vary by county or contract terms.

International students or immigrants with short credit histories can also utilize services like Nova Credit to convert their international credit history. This allows them to submit financial records from their home country as reference material for U.S. rental applications. Paying several months' rent in advance remains a valid alternative as well.

Lexington is an area with school districts preferred by Korean families. The higher the school district rating, the more competitive the rental market, so it is advantageous to prepare credit scores and income documentation in advance. School district boundaries change frequently, so it is advisable to verify the assigned school for a specific address before signing a lease.

It is also worth noting ways to manage credit scores in advance. Using services that report utility or communication payment histories to credit reports, or obtaining a small credit card and making timely payments can help improve scores within a few months. Setting aside three to four months for this preparation period before signing a lease seems like a realistic choice.

Having the actual application documents ready in advance can be helpful. Recent pay stubs from the last 2-3 months, bank balance statements, and a recommendation letter from a previous landlord typically meet most management company requirements. For those who have just arrived from Korea, showing income stability with a bank balance statement can be particularly effective.

Comparing the concept of security deposits in Korea with that in the U.S. can be confusing. In Korea, deposits can range from several times to dozens of times the rent, but Massachusetts law restricts this to one month's rent. Instead, stability must be proven through credit scores or income documentation, which means the types of documents required are different.

When inquiring with management companies, it is advisable to check not only the minimum credit score but also whether they have cosigner policies and if they accept rental guarantee insurance. Policies can vary by company, so being denied by one does not mean others will have the same response. Inquiring with multiple companies may take time but can ultimately lead to better conditions.

The content discussed in this article is not investment or legal advice. Specific conditions may vary by management company and county, so consulting with a professional before signing a lease is recommended.