Avoid Surprise Costs: 16 Apartment Living Expenses to Know Now
Wondering how much it really costs to live in an apartment? From rent to toilet paper, here’s everything you need to know about real-life apartment living expenses.
Living in your own apartment is AMAZING, hands down. It’s your own space to be free to do whatever you want. What’s better than that?!
But, apartment living is more than just paying for rent. There are more expenses (either monthly or one-time costs) that you have to plan for.
If you’re feeling scared or anxious about it, I get it. Being an adult can feel so overwhelming and expensive (even just to breathe lol).
But don’t worry, I got your back. If I can do it, so can you. I’ve lived in apartments for the past 4 years, and I’ve learned all the ins and outs to managing apartment living expenses.
In this post, I’ll break down every common apartment living expense you need to know, plus tips on how to budget smarter and avoid surprise costs.
This post is all about the expenses of living in an apartment. Let’s get started!
What Are Living Expenses?
Living expenses are the financial costs that come with your basic daily living. Unfortunately, nothing is free in life, so you have to spend money for services or goods that meet your basic needs (and desires).
Your basic needs include housing, food, and clothing—and to be honest I’d also include internet access and a phone—- so the most important living expenses are rent, groceries, utilities, wifi/cable, phone bill, etc.
Some living expenses have a fixed cost—like rent—and other costs are variable—like utilities or groceries. This is because your utilities—think energy and water usage—can fluctuate from month to month, while your rent has a stable price throughout the duration of your lease.
This is important to know because when you create a monthly budget to manage your finances, it’s important to come up with an average cost for your utilities and grocery bill, so that you can get a better idea of how much to allocate towards that expense.
Monthly Apartment Living Expenses Explained: What You’ll Actually Pay Each Month
Here are the monthly living expenses to keep in mind when creating your moving budget for your first apartment:
1. Rent
Rent is an obvious apartment living expense….because that’s how you’re able to live in the apartment lol. But in all seriousness, rent is usually the biggest chunk of your monthly budget, because housing is extremely expensive in this world.
A popular guideline is the 30% rent rule, where rent should not be more than 30% of your gross monthly income (gross means before taxes, net means after taxes). However, that’s not as common in today’s age where wages have not kept up with the cost of living.
I’m not going to sugarcoat how expensive rent can be. Depending on your income and whether or not you have roommates, your rent may be 50% of your income (or more) unfortunately.
But, rent prices vary based on location, unit size, amenities, and whether or not utilities are included. The rent price for a 2 bedroom apartment in Hoboken, NJ is going to be vastly different from a 2 bedroom apartment in Jackson, Mississippi.
2. Utilities
Some apartment complexes will include the cost of your utilities in your rent price, so you don’t have to pay for it separately. This may be your water & sewage and trash service. But, other apartment complexes may not include the price of your utilities in your rent.
Where I live now, I have to pay for all of my utilities separately from my rent. Some common utilities include:
- Electricity – Especially high in the summer or winter depending on heating/cooling.
- Water & Sewer – Usually modest but varies by city.
- Gas – Often needed for heating or cooking.
- Trash Service – Sometimes included in rent, sometimes charged separately.
3. Internet & Cable
We live in a world that mainly requires internet access, so expect to pay for high-speed internet and potentially streaming services or cable.
Budget-Friendly Tip: You can skip traditional cable and opt for streaming to save money. I did this a few years ago by getting YoutubeTV.
4. Renter’s Insurance
Renter’s insurance wasn’t something I realized I needed until I moved into my first apartment. It’s often required by landlords, and it protects your belongings in the event that theft or damage happens.
It’s usually affordable where you’re paying $10–$20/month on average. I’ve been using Lemonade’s Renter insurance for the past 4 years, and I have no complaints.
5. Groceries & Food
You gotta eat to live! Groceries are an essential part of your budget, but keep in mind that your monthly grocery bill will vary by your household size and eating habits.
It’s usually cheaper to buy groceries and cook your own delicious meals instead of ordering takeout daily (or even multiple times a week).
Just today I went out for brunch with a friend and got a salmon and rice bowl that was $22. Was it delicious?…yes, but that’s not the point 😂. I usually buy salmon from Aldi that costs about $20 and it can last me for at least 4 days.
So, it’s important to remember that food costs can add up and it’s wise to try to cook your own meals and have leftovers throughout the week.
6. Laundry
If you don’t have in-unit laundry, plan for quarters and laundromat trips.
But, if you can find a relatively affordable apartment with an in-unit washer and dryer, your life will be set 😂. But seriously, it’s just so much more convenient to do your laundry in your own space.
7. Parking or Transportation
This depends on the apartment, but some places require you to pay monthly for parking. It sucks, I know! So, if this isn’t something you’re keen on, try looking for a place where you don’t have to pay for parking.
Also, if you live in a more metropolitan area, and don’t want to (or have the ability) to drive to and from work, then make sure to also budget for public transportation.
Also, don’t forget car insurance and gas in your monthly budget if you do drive!
Pro tip: Some gas stations charge less if you pay in cash, so try to set aside $20-30 cash each week to spend less on gas.
8. Household Essentials
Remember to include household essentials like toilet paper, cleaning supplies, toiletries— shampoo, conditioner, and body wash, lightbulbs, dish soap, etc. in your monthly budget.
These items are often overlooked but can add up fast.
Budget-Friendly Tip: To save money, buy apartment essentials in bulk— like toilet paper— at warehouse stores like Costco because the per unit price is usually cheaper than buying the same amount at your local grocery store.
9. Subscriptions & Streaming Services
Subscriptions and streaming services have essentially taken over entertainment.
Remember to add Netflix, Hulu, Spotify, etc. to your monthly budget so the costs don’t sneak up on you every time you check your bank account.
10. Pet Fees (If Applicable)
If you have a pet—and it’s not a service animal or emotional support animal—then remember to add a monthly pet rent, food, and supplies to your budget.
Also, be aware that some apartments charge non-refundable pet deposits.
One-Time Expenses When Moving Into Your First Apartment
These are all the apartment expenses you need to know before you move into your new place:
1. Security Deposit
A security deposit is essentially an insurance for your landlord, in case they discover there’s any damage to the unit after you move out. The security deposit will help your landlord pay to fix any potential damages to the apartment.
If there are no damages present when you move out, then you’ll receive your security deposit back.
The deposit is typically 1.5x month’s rent but can vary depending on the landlord or your credit history.
It’s important to do a walkthrough of the apartment before you officially move in. Take pics and videos so that you can know if there were any damages present before you move in. This helps you not lose out on your security deposit!
2. First Month’s Rent (Sometimes Last Month, Too)
When you move into an apartment, some places require you to pay first month’s rent upfront (and sometimes last month’s rent too).
3. Application Fees
Another one time apartment expense is an application fee. This fee can range from $50 to $200+—and it’s important to know that it’s non-refundable, even if you don’t get the apartment.
I know it seems unfair and like you’re throwing your money away, but unfortunately this is how many apartments operate.
4. Pet Deposits
If you plan on bringing a pet, you can expect to pay a separate deposit for your furry friend that’s often $200–$500 upfront.
5. Moving Costs
Other one time costs to consider for your apartment include a truck rental, moving services, gas, and boxes.
6. Amenity Fee
Some apartments can charge a one-time amenity fee. This can be upwards of $300. This charge is for you to gain access to the apartment complex’s amenities such as a pool, tennis court, gym, lounge, etc.
Apartment Expenses Monthly Budget Example (For Real-Life Context)
🏠 Apartment Living Expenses: Living Alone vs. With a Roommate
| Expense Category | Living Alone | With Roommate (Your Share) |
| Rent | $1,750 | $875 |
| Electricity & Gas | $150 | $75 |
| Water, Sewage & Trash | $70 | $35 |
| Internet & Cable | $120 | $60 |
| Renter’s Insurance | $15 | $15 (not typically split) |
| Groceries & Food | $370 | $250 |
| Parking | $50 | $50 (usually not shared) |
| Household Essentials | $50 | $30 |
| Subscriptions | $30 | $15 |
| Total Estimated Cost | $2,605 | $1,405 |
📝Important Note: Adjust this budget based on your city, lifestyle, and if you have roommates or pets.
Budgeting For Apartment Living: Practical Tips
1. Track Expenses in a Budget App or Spreadsheet
It can be so easy to feel like your money just escapes your bank account each day and you don’t even know how.
Budgeting tools, like an app —think Mint, or a google sheets spreadsheet can help you get a visual look into your daily, weekly, and overall monthly spending habits.
This way, if you notice you’re spending $10 a month on a subscription you don’t use, you can cancel that service to save that money instead.
2. Shop Smart for Household Items
You can save a lot of money by shopping strategically. For basic household items like toilet paper, toiletries, or groceries, stock up on these essentials at places like Aldi, Walmart, or Costco.
Also, use coupons to cut down on grocery costs. The savings can really add up!
3. Split Costs with Roommates
This is my biggest piece of advice, if you can, consider having a roommate to split apartment expenses.
Instead of having the huge burden of every expense on your shoulders, you can share the load of rent, utilities, streaming services, or cleaning supplies. This can make a big difference in living a budget-friendly lifestyle.
FAQs About Apartment Living Expenses
1. What’s a realistic monthly budget for apartment living?
A realistic monthly budget will depend on your location, if you have a roomate, and your overall lifestyle. But, many renters spend between $1,500–$3,000/month including rent, utilities, food, and other basic needs.
Before you move into your new place, try to have 6-12 months worth of living expenses saved. I live by the motto that “you never know what can happen,” so I try to err on the side of caution to mitigate any risk.
2. How can I lower my apartment living costs?
You can lower your apartment living costs by splitting costs with a roommate, choosing to cook your own food instead of eating out frequently, using energy efficient power strips—and turning the power strip off if you’re not using anything that’s plugged into it, and by shopping for secondhand furniture and decor at thrift stores or Facebook Marketplace.
3. What are some unexpected expenses for renting your first apartment?
Some unexpected expenses to keep in mind when renting your first apartment are non-refundable application fees (upwards of $300), a pet deposit if you plan on bringing a pet (upwards of $500), water & sewage costs if your apartment does not include that in your monthly rent, and a one-time amenity fee (upwards of $300)—this is for places that deem themselves a luxury apartment complex with a pool, gym, lounge, etc.
Final Thoughts: Plan Ahead and Rent Smarter
Apartment living can be amazing! It can also be pretty expensive, so it’s important to know what to expect financially before you make the big move.
By understanding the full picture of monthly and upfront expenses, you’ll avoid stress and feel more confident in your budget.
Remember that there are practical ways to save money while you rent, such as getting a roommate to split costs or even using energy efficient power strips.
You can do this! Have fun enjoying your beautiful apartment!
This post was all about apartment living expenses to be aware of.