How Much Does It Cost to Rent an Apartment?

Renting an apartment costs more than just the monthly rent payment to your landlord. The cost of renting often includes a security deposit, utilities, renter’s insurance, and move-in fees. Let’s break down everything you can expect to pay when renting, so you can plan your move with confidence.

Upfront costs

Before you get the keys to your new apartment and begin paying rent, you’ll likely pay some upfront costs. These costs include a security deposit, often equal to one or two months’ rent. 

Application fee

Typically, the first step when you find an apartment you love is to submit a rental application and pay a one-time application fee. The median application fee is $50, according to Zillow research. The landlord or property manager uses your application fee to run background and credit checks.

Security deposit

The security deposit is often the biggest upfront cost for an apartment, with the median security deposit reported at $795 for recent renters, according to Zillow research. Usually, the security deposit is equal to one or two months’ rent. Some states have laws that limit how much a landlord can charge for a security deposit.

Among other things, the security deposit is intended to cover potential damages beyond normal wear and tear. The good news: If you leave the rental in good condition, you’ll likely get your security deposit back after you move out.

First and last month’s rent

In addition to the security deposit, you’ll likely pay first month’s rent, and potentially last month’s rent, as well. Three-quarters (73%) of renters paid first month’s rent as a requirement to get their apartment, while 24% paid first and last month’s rent as a requirement, according to Zillow research.

Pet deposit

If you have a furry friend living with you, many apartments require a pet deposit. This is similar to a security deposit, but is intended to cover any pet-related mishaps, like scratched floors or stained carpets. Some landlords may charge a one-time, non-refundable pet fee instead of, or in addition to, a pet deposit.

Move-in fee

Some apartments or condo associations charge a one-time move-in fee to cover administrative costs, like updating the building directory, issuing new keys or fobs or reserving the service elevator. Be sure to ask your landlord or property manager whether this fee applies to your unit so you can budget accordingly.

Moving expenses

You’ll likely have some costs related to move-in day, such as payment for professional moving services, a truck rental or packing supplies. Here’s a more in-depth look at how much it costs to move.

Ongoing costs

Once you’re settled into your apartment, you’ll pay recurring costs until you move out. These include monthly rent, utilities, renters insurance, and required service fees.

Monthly rent

Rent is the amount you pay each month to the landlord or property manager for the right to use their property for a period of time as indicated in your lease. As of May 2026, the average monthly rent in the U.S. is $1,951, according to the Zillow Observed Rent Index (ZORI). Rents vary widely by location, size and amenities, however, and may increase each time you renew your lease. 

Utilities

Some apartments include some utilities in the rent, such as heat and hot water, so you won’t pay another bill for them. Others may require you to pay for electricity, gas, internet and garbage pickup separately. Always confirm which utilities you’re responsible for before signing your lease.

Renters insurance

Though not always required by the landlord, renters insurance helps protect your personal belongings from theft, fire or other damage. It’ll also cover expenses related to someone getting injured on your property or if the property becomes uninhabitable. As of 2022, the average renters insurance premium is $171, or about $14 a month, according to the Insurance Information Institute. A renter insurance plan through Zillow Insurance Services starts at just $8.33 per a month. Get a renter insurance quote in minutes to cover what matters most to you.

Parking fees

If you have a car, plan for potential parking costs. Often, a dedicated spot comes with an extra monthly fee. You may need to pay a one-time fee for a parking permit or sticker, as well. Some apartments include parking in the rent, while others offer it as an optional add-on.

Pet fee

In addition to a pet deposit, you may need to pay an ongoing monthly pet fee or pet rent. Unlike the deposit, this cost isn’t refundable.

Laundry

If your apartment doesn’t have a washer or dryer, you’ll have to pay to do your laundry, either through a communal laundry room or at a laundromat. This cost adds up, so it’s helpful to include it in your monthly budget planning.

Potential costs

There’s the possibility of additional costs based on the terms of your lease, including penalties for late rent payments and charges for breaking the lease ahead of when it ends.

Late fees

Most leases include a clause for late rent payments. If you don’t pay rent by the due date, you may have a grace period to pay it. After that, you’ll be charged a late fee, either a flat amount or a percentage of your rent. Make sure you understand the rent due date — especially if you’re mailing a check — to avoid unnecessary charges.

Breaking the lease

Life happens, and you may need to move out of the apartment before your lease ends. Breaking a lease can be costly — you may forfeit your security deposit or remain responsible for rent until your landlord finds a new tenant. Review your lease terms carefully so you know your options.

Final thoughts on rental costs

Finding the right rental means balancing your needs with your budget, and that budget includes costs like the security deposit, utilities, and renters insurance. Before committing to an apartment, be sure you understand all costs, including upfront, ongoing and potential charges.