Renting Affordably

Renting your own place can feel like a major milestone and it is. But it can also come with a lot of stress if you aren’t fully prepared for the financial side of it. Rent, utilities, deposits, fees, furniture… it adds up fast.

This guide is here to take the confusion out of the process and help you figure out how to rent smart, not just fast. Whether you’re moving out for the first time or relocating on a budget, here’s what to know.

Start with Your Budget, Not the Apartment Listings

A lot of people jump straight to looking at apartments online, but that’s how you end up falling in love with a place you can’t afford. Before anything else, figure out what you can comfortably spend.

A general rule of thumb: Spend no more than 30% of your monthly income on rent.

That means if you take home $2,500/month, you should aim to spend $750/month or less on rent.

If that feels impossible based on what you’re seeing in your area, you’re not alone. Many renters especially first-timers are spending 35–50% of their income on rent. That’s why planning is so important.

What Rent Costs Actually Include

Rent isn’t just the base price you see on an apartment listing. You’ll want to factor in:

• Utilities: Water, electricity, gas, trash, internet (ask if these are included or separate).

• Pet fees: Monthly pet rent + non-refundable deposits.

• Renter’s insurance: Often required and usually under $15/month.

• Laundry: In-unit machines are rare in budget-friendly apartments. Plan for quarters or shared laundry room fees.

• Parking: Some complexes charge for assigned spots or garages.

Other Upfront Costs to Budget For

You’ll also need to prepare for some one-time costs before moving in:

• Security deposit: Usually one month’s rent.

• First month’s rent: Sometimes also last month’s rent, depending on the landlord.

• Application + background fees: Around $25–$75 per person.

• Furniture + essentials: Bed, couch, kitchen basics, shower curtain, cleaning supplies, etc.

How to Find Affordable Rentals

Rent prices vary a lot based on where you live. You may find better deals in:

• Smaller towns or neighborhoods just outside city limits

• Older complexes that may not be trendy but are more affordable

• Privately owned rentals (duplexes, basement apartments, converted houses) found on Facebook Marketplace or local classifieds

Start your search on sites like:

• Zillow

• Apartments.com

• Facebook Marketplace

• Local property management company websites

Pro Tip: If your credit score is low or you don’t have rental history, look for landlords who accept co-signers or allow additional deposits instead.

What Landlords Are Looking For

To get approved for a rental, you’ll typically need to show:

• Proof of income (pay stubs or bank statements)

• Good credit or a co-signer

• References (from past landlords or employers)

• Clean background check

Make sure you have these documents ready before applying.

How to Keep Rent Manageable

If you’re pushing the edge of your budget, here are ways to reduce your housing costs:

• Get a roommate: Splitting rent and utilities can easily save $400–$800/month.

• Consider a studio or efficient apartment: Smaller space, lower rent.

• Work a remote job in a lower-rent city: Especially helpful if you’re job hunting.

• Negotiate before you sign: Ask if there’s a lower rent option for longer leases or paying early.

Final Thought

Your first place doesn’t have to be your dream place. It just needs to be livable, safe, and within your means. Once you’ve established a solid budget and understand the true cost of renting, you’ll have more confidence and fewer financial surprises.

Now that you know the basics, let’s get more detailed. Next up:

Want to figure out your exact price range? Read: First Apartment: What Can You Comfortably Afford?

Ready to learn how to apply and move with confidence? Check out: First Apartment: How to Get It