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well, if rent is $700 for a studio and you only make $1500, any LL knows that between bus rides, grocery shopping, pone bill, and regular monthly living expenses you will barefly be able to cover rent. And that means no other credit card bills or anything like that. The 3x's the rent is just standard cost of living that allows you to pay all of your bills and save a little money everymonth. The logic is a LL does not want to rent t someone living hand to mouth, barefly being able to cover bills and never have a savings.
As for deposit, it's standard. One months worth so if you skip out the last month without paying they are covered....but you get it back when you move out so it should not be a rpblem.
If it's too much, then go forroom rental with a roommate to start out with.
It is a lot in today's economy, surely the whole 3x's thing but for the LL it hasn't changed in the sense they want someone they know has enough money to pay the bills.