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Smart Money. After high school, I’d love to move into an apartment with a bedroom with my boyfriend. Therefore, I would get a roommate if there is half the battle. (We have already agreed that) On average, what is the cost of rent for a one bedroom? Also, what is the average cost of other expenses? Air, electricity, water, food? I know it depends on person, but only on average? Another question, I know I’m asking a lot, but what I have taken int account? Thank you!

4 Thoughts on Things to consider when renting an apartment?
  1. Reply
    August 21, 2013 at 5:24 am

    Estimate is a minimum of 3500 to maintain an independent life style. You both will need a parent to cosign the lease guaranteeing rent and damages.

  2. Reply
    Elaine M
    August 21, 2013 at 5:50 am

    If you brown bag it, $ 320 will feed two people for a month. Rent in our area is $ 700 a month. Electric/gas runs about $ 150 in our area which would include air conditioning. The water bill is usually handled by the landlord.

    Factor in gas for the car, any car payments, standard payments on credit cards and loans, etc.

    This is in the Midwest, if you live in Florida it will be different, or California – you can double or quadruple the costs there.

  3. Reply
    August 21, 2013 at 6:45 am

    1000 a month rent
    150 power
    800 food (100 a week each)
    150 phone (or 75 each for cell phone month
    1000 Transportation 50 a week each gas 300 each car payment insurance
    400. 50 each a week for general bs

    3500 a month for both together.

    Note* one thing you have control over is transportation. Driving an older car can save you a bunch if you can fix little things on them.

    And eating together brings that down somewhat.

    Obviously this is just a wild guess. Your actual cost will be different. Hopefully lower. After some time you can get good at saving money if you want. Or spend a lot more too,

  4. Reply
    August 21, 2013 at 6:46 am

    When you looks for apartments in the newspapers, it’s important to check the apartments in person to see what they are like. It’s also important to check out the area, such as if there is a supermarket near by, a laundrymat (especially when your building might not have it) and so on. The rent in my dad’s building is about 700 – 900 a month. It depends on what the apartment contains. The apartments are pretty spacious, containing two bedrooms (the other has a third room), living room, kitchen, and bathroom. I don’t know how much a one bedroom apartment is but a lot lower then the two/three bedrooms ones. If I remember correctly I’ve seen some that are about 500.

    Also keep in mind that sometimes the rent is negotiable. It doesn’t always happen but it’s possible to settle on a agreeable rent. Another thing is that there’s always going to be a security deposit when you pay your first rent or sometimes before you move in. The security deposit is for the owners to feel secure about you moving in, just in case you skip out on rent or screw the place up. So if you damage the apartment they use that money to fix it. But if everything is in perfect condition they refund that money to you when you move out. Security deposit is about 1,000 – 2,000.

    As for utility bills that sometimes depends on the apartment buildings.

    Gas: Usually ranges from $ 15-30, depending on how much you cook. The more you use your burners/oven, the higher the cost. Also, know that gas includes costs for HEAT, which can go as high as a few hundred dollars in the winter if you like to stay super toasty! If possible, I’d recommend trying to find an apartment with radiator heating, as these kind of apartments usually include free heat!

    Electric: Usually around $ 30 — but can get much higher in the summer with AC’s running. So, do consider adjusting your budget to around $ 50-$ 70 in the summertime. You can do that by using fans a lot more than AC’s since they don’t use as much electricity. And it helps to set a timer for your AC’s to be use only when you need it (like sleeping) and for them to turn off when the room is cold enough.

    Cable/Internet/Phone: Approximately $ 100. Be sure to call up your cable company and ask if they have any specials — they usually do and you’ll get the best new customer deal by calling up and sweet talking the sales associate at the other end. If you’re looking to go bare bones, ONLY internet usually runs about $ 30-$ 50. (Note: If you just get internet then I recommend getting Netflix. You’ll save more money and get your favorite tv shows/movies fix)

    Water/Trash: Most apartments already include this with your rent, so you don’t have to worry about it. Though if it’s not, you very well may have a landlord who’s not abiding by the letter of the law.

    Food: The cost of eating all depends on you. Do you cook, would you have time to make food? Do you stock up on food for the whole week? If not, will you be relaying on takeouts? Or will you be eating at diners and fast food places? Or will you find a Dollar Store to get most of your food ingredients, such as rice, beans, pasta, etc. Each option has their pro and con, being either costly or saves you money.

    Other Living Expenses: Do you have a car? Can you still afford insurance for it? What about gas? What about public transportation? Do you have life insurance? Do you have a pet? Can you afford to care for them and buy the things they need? What about housekeeping supplies (which is laundry and cleaning supplies), clothing, personal care products (such as hair, oral hygiene products, shaving needs, cosmetics and bath products), and on.

    Having your own place is never easy. And it’ll be even harder if you lose your job and don’t have any saved up money to fall back on should that happen. So it’s important to save up while you’re still in school. My friends are graduating college and they aren’t living on their own just yet. In this economy finding jobs is still difficult and saving up money takes a while to build up. It’s not impossible but you’ve got to be patience!

    Lastly, when you get an apartment with another person, it’s important that the both of you establish some rules in order to avoid problems from happening. Such as who takes the trash out, who washes the dishes, who makes food/gets the food, how long can someone spend in the bathroom (so that they don’t waste water), how long can guests stay over, etc.

    I hope this helps!

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