The very first thing to consider when you’re ready to move out is “How much is this going to cost?!” If you can’t afford it, it can’t happen, so you must plan wisely. But how much does rent ACTUALLY cost?
Keep in mind that the numbers you see below are averages, reflecting an apartment size overall of 1.6 bedrooms, with a range from 1.4 in Southeast to 1.8 in Southwest and Major Metros. Also, remember that apartment complexes change their rent price daily based on supply and demand.
Utilities are another critical cost that you have to be ready for. And it’s much more complex than a flat rent cost. Utilities generally depend on usage–if you use more electric or energy, you pay a higher fee. If you use less water, you pay less. Some apartments charge a flat fee for some utilities (like water or trash), but most of the time that price will fluctuate each month.
But how much does it cost? Read more below. For full survey results click here.
Do you think you can do it? Check out our rent affordability formulas for more tips on what you can afford to move into. And as always, good luck!