Spoiler alert: It’s more expensive than your parents remember, and yes, you do need renters insurance.
So you’re finally doing it—getting your first apartment. Not a college dorm, not your childhood bedroom with the embarrassing posters, but an actual adult apartment with your name on the lease. Congrats! Now let’s talk about why your bank account is about to experience what we’ll politely call “a learning opportunity.”
The Sticker Shock Is Real
First things first: the rent you see advertised is not the rent you’ll actually pay. I know, I know—it should be illegal. But welcome to adulting, where everything costs more than advertised and nobody tells you until you’re already emotionally invested.
Let’s break down what you’re actually signing up for.
The Obvious Costs (That Are Still Somehow Surprising)
Rent: The Gift That Keeps on Taking
We’ll start with the big one. As of 2025, the average rent for a one-bedroom apartment in the US is around $1,700/month, but this varies wildly depending on where you live. In San Francisco or New York? You’re looking at $3,000+ for anything that isn’t a converted broom closet. In smaller cities? Maybe $900-$1,200.
The Rule of Thumb: Your rent should be no more than 30% of your gross income. So if you make $50,000/year, that’s about $1,250/month max. Laughing? Me too. In reality, many young people pay 40-50% of their income on rent because… what other choice is there?
Security Deposit: The Money You’ll Never See Again
Just kidding—you’ll supposedly get it back! (You won’t.) Most landlords require first month’s rent PLUS last month’s rent PLUS a security deposit equal to one month’s rent. That’s 3 months’ rent upfront. For our $1,700 apartment, that’s $5,100 just to get the keys.
Pro Tip: Take photos of EVERYTHING on move-in day. That weird stain on the carpet? Document it. The slightly broken blind? Document it. Your landlord’s memory will be mysteriously selective when you move out.
Application Fees: The Capitalism Starter Pack
Want to even be considered for an apartment? That’ll be $50-$100 per application. And in competitive markets, you might apply to 5-10 places before getting approved. Do the math—that’s up to $1,000 just for the privilege of maybe getting housing.
The “Wait, I Have to Pay for That?” Costs
Utilities: A Choose-Your-Own-Adventure in Expenses
Unless you’re renting a place with utilities included (rare, but they exist), you’re looking at:
- Electricity: $80-$150/month depending on your AC usage and whether you remembered to turn off the lights
- Gas: $30-$100/month for heat and hot water
- Water/Trash: $30-$70/month (sometimes included in rent)
- Internet: $50-$100/month for speeds that won’t make you rage-quit your Zoom calls
Total monthly utility budget: $200-$400. Yes, really.
Renters Insurance: The Thing You’ll Ignore Until You Need It
Around $15-$30/month, and most landlords require it. This covers your stuff if there’s a fire, theft, or your upstairs neighbor’s catastrophic dishwasher leak. Get it. Seriously.
Moving Costs: The Forgotten Budget Killer
Rented a U-Haul? That’s $150-$300 for the day. Hired movers? $500-$2,000 depending on how much stuff you have. Pizzas and beer for the friends who helped you move? Priceless. (Just kidding, it’s $60.)
The Stuff You Need But Don’t Have
Furniture: The IKEA Speedrun
Unless you’re moving from a furnished situation, you need:
- Bed + Mattress: $300-$1,500 (don’t cheap out on the mattress—your back will hate you)
- Couch: $400-$2,000 (or free from Facebook Marketplace if you’re brave)
- Dining Table + Chairs: $200-$800 (or a folding table and camp chairs, no judgment)
- Dresser: $150-$500
- Desk: $100-$400 if you work from home
- Shelving: $50-$200
Budget-conscious total: $1,500-$3,000 if you’re strategic about it.
Kitchen Essentials: More Than You Think
Your kitchen will be empty. Painfully empty. You need:
- Pots and pans ($100-$200)
- Dishes and silverware ($50-$100)
- Glasses and mugs ($30-$50)
- Basic utensils ($30-$50)
- Coffee maker ($30-$150 depending on your coffee snobbery level)
- Can opener (you’ll forget this and regret it immediately)
Total: $300-$600
Cleaning Supplies & Household Items
Vacuum, mop, broom, cleaning products, trash cans, shower curtain, towels, toilet paper holder, etc. Budget: $200-$400.
The Monthly Reality Check
Okay, deep breath. Let’s look at a realistic monthly budget for your first apartment:
Fixed Costs:
- Rent: $1,700
- Renters insurance: $25
- Internet: $75
- Utilities: $250
- Streaming services: $50 (be honest with yourself)
Variable Costs:
- Groceries: $300-$500
- Eating out: $200-$400
- Transportation: $100-$300
- Personal care: $50-$100
- Entertainment: $100-$200
Grand Total: $2,850-$3,600/month
To afford this comfortably (with some savings), you’d need to make around $55,000-$70,000/year. If you’re making less (which many people in their 20s are), you’ll need roommates or to make some sacrifices.
The Roommate Math
Living with a roommate can cut your costs significantly:
- Rent: Split $2,500 two-bedroom = $1,250 each
- Utilities: Split = $125 each
- Internet: Split = $37.50 each
- Costco membership: Split = $3.33 each
Plus you have someone to split the cost of household items with. And maybe they’ll buy toilet paper sometimes without being asked. Maybe.
Creative Ways to Reduce Costs
Go Hybrid on Furniture: Splurge on the bed and couch (you use these daily), go cheap or secondhand on everything else.
Cook at Home: That $15 takeout habit? That’s $450/month. Pack lunches. Meal prep. Your bank account will thank you.
Negotiate Your Bills: Call your internet provider and ask for promotions. Switch to cheaper phone plans. Cancel subscriptions you forgot about.
Buy Nothing Groups: Facebook has neighborhood “Buy Nothing” groups where people give away free stuff. You’d be surprised what you can score.
Subletting: If you travel for work or have flexible living situations, subletting your place for a month can cover a significant chunk of rent.
The First-Month Survival Budget
Here’s what you absolutely need to have saved before moving in:
- First month + last month + security deposit: $5,100
- Moving costs: $500
- Bare minimum furniture: $1,000
- Kitchen and household essentials: $500
- Emergency fund: $1,000
Total: $8,100 minimum
Don’t have that? You’ll need to:
- Get a roommate
- Finance furniture (carefully)
- Move in stages
- Accept that your apartment will be sparse for a while
Things Nobody Tells You
The apartment will look bigger empty. Once your stuff is in there, it’ll feel cramped. That’s normal.
Something will break immediately. Document it and tell your landlord right away. Don’t try to fix it yourself.
Neighbors are a wildcard. You might get lucky, or you might get someone who vacuums at 2 AM. Soundproof what you can.
You’ll forget something crucial. It’s always plungers or shower curtain rings. Always.
Grocery shopping costs add up shockingly fast. The first “stock the pantry” trip can easily hit $200.
Is It Worth It?
Despite the financial gut-punch, there’s something invaluable about having your own place. Coming home to your space. Decorating how you want. Walking around in your underwear. Not hearing your roommate’s boyfriend’s terrible music taste.
Just go in with eyes wide open about the costs. Your first apartment is an investment in independence, sanity, and figuring out what “adult” means for you. And yeah, it’s expensive. But so is living with your parents past a certain point—emotionally, if not financially.
The Bottom Line
Adulting is expensive, first apartments are shockingly expensive, and nobody prepares you for just how much those “little” costs add up. But armed with this budget breakdown, at least you won’t be blindsided when your move-in costs rival a used car’s price tag.
Save more than you think you need. Budget for the unexpected. And remember: everyone’s first apartment is a bit of a disaster. That’s part of the charm.
Now go forth and adult. You’ve got this. Probably.
What was your biggest surprise cost when you got your first apartment? Drop it in the comments and save someone else from the same mistake.