How Much Money Do You Need to Rent an Apartment?

Find out What You Need to Pay and When

Woman working from home using calculator
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​​Before you go apartment hunting, you'll need to make sure you have enough money to secure a good rental and afford to call it home for as long as you wish. But just how much money do you need, and when must you pay it?

Here's an overview of the items apartment dwellers typically pay, organized by when each item is owed. If you review these items before you embark on an apartment search, you'll avoid unpleasant surprises and also be able to budget properly and make each payment as it comes due.

What You'll Need to Pay

  1. Before you sign a lease. You'll likely owe some money in fees or deposits before you even sign a lease. Find out what you'll need to pay before you sign a lease.
  2. At or around lease signing. When it comes time to sign a lease, be prepared to fork over two to four times your monthly rent, if not more. Find out what you'll need to pay at or around lease signing.
  3. During your lease term. It costs a lot of money to use and enjoy your rental each month, but it needn't be overwhelming. Find out what you'll need to pay during your lease term.