How to Save Money When Renting

Saving on housing is top of mind for many renters — especially since rents have climbed 36.1% since the start of the pandemic and are up another 2.3% over the past year, according to October 2025 Zillow research. And with 2025 data showing renter households earning a median income of about $54,000 (compared to the national median of $80,000), it’s understandable that many are looking for ways to keep monthly costs in check.

The good news: there are simple, proven ways to cut costs. Below, we break down how to save money when renting — from managing your finances to finding a home that fits your budget.

Ways to save money when renting

1. Look for more affordable rental locations

You could significantly reduce rent and utility expenses by moving to a smaller apartment or a lower-cost area. Before you sign a new agreement, check that the payment aligns with your budget using Zillow’s Rent Affordability Calculator.

The type of property might help you save, as well. Newer buildings looking to fill vacancies sometimes offer new lease specials or concessions. Now over 37% of rentals on Zillow offer some sort of freebie – a new record high for September 2025 and up from 14.4% in 2019.

Now 37.3% of rentals on Zillow offer some sort of freebie — a new record high for September and up from 14.4% in 2019. 

Timing your move can help too — rent prices can dip in the winter or during the middle of the school year.

To find apartments that fit your price range and lifestyle, explore listings on the Zillow Rental Search Center. 

2. Take on a roommate

If you have the space and willingness, consider getting one or more roommates to help you share rent and utility costs. Before going this route, ensure your lease agreement allows roommates and inform your landlord of your plans.

3. Try renegotiating your lease

If you’re already in a rental you love and consistently pay rent on time, you might have some leverage ahead of your lease renewal. Two or three months before the lease ends, connect with your landlord. You might offer to renew the lease early, for instance, or sign an extended lease in exchange for a discount. Highlight that renewing with you could save them money on turnover costs like cleaning, painting, and new tenant screening fees.

Keep in mind that landlords often increase rent when leases expire. Still, if you have a good track record as a tenant, they might be more willing to work with you.

4. Trim rental extras

If you don’t need a dedicated parking spot, extra storage, or access to luxury amenities like a gym or pool, check with your landlord about eliminating these costs.

5. Rework your budget

If changing your rental situation isn’t an option, review your budget and spending habits. Try following the 50/30/20 guideline:

• 50% of income for needs like rent, utilities, and groceries
• 30% of income for wants such as dining out or entertainment
• 20% of income for paying off debt or saving

If you’re spending too much in the “wants” bucket, consider ways to cut back, such as:

• Canceling unused memberships or subscriptions
• Limiting takeout
• Using cash to curb overspending
• Avoiding impulse purchases, especially online

You might also be able to save in the “needs” category by:

• Taking advantage of coupons and seasonal discounts at the supermarket
• Planning your meals around sales
• Preparing meals at home
• Buying store brands when possible 

6. Save on utility costs

The median cost of apartment utilities in the U.S. is about $150 per month, according to the 2023 American Community Survey. To lower that number, consider these energy-saving tactics:

• Turn off lights and electronics when not in use
• Adjust thermostat settings by a few degrees
• Use energy-efficient bulbs and appliances
• Air-dry laundry instead of using the dryer
• Use blackout curtains to keep heat out in summer
• Unplug chargers and small appliances after use

7. Switch to cheaper providers

Review your cable, internet, and phone plans regularly — not just once a year. Start by calling your current provider to ask about loyalty discounts, promotional rates, or lower-cost packages you may qualify for. Some companies offer deals, but only if you ask. Then, compare those prices against other providers in your area to see if switching could save you even more. Even small monthly reductions can add up over the course of a lease.

If you have renters or auto insurance, shop around to see if another provider offers a lower rate. Zillow makes it easy to get covered with flexible renters insurance plans offered through Zillow Insurance Services*. Explore options and get covered in minutes.

8. Increase income

Even small boosts in income can offset your rent and help you build savings faster. Does your budget feel tight? Look for additional ways to bring in more money:

• Take on a part-time or freelance job
• Look for remote work you can do from home to save commuting costs
• Turn hobbies into side hustles (like tutoring, pet sitting, or delivery driving)
• Ask about overtime or advancement opportunities at your current job
• Sell unwanted items through resale apps, consignment shops, or online marketplaces to generate extra cash for rent or bills

9. Reduce debt

Pay off high-interest balances to free up more money for essentials and savings. Even small extra payments toward high-interest debt can reduce total interest over time. Start with this order of priorities:

1. Credit cards — tackle those with the highest interest rates first.
2. Personal (or high-interest) loans — eliminate short-term, high-fee debts next.
3. Car or student loans — shift focus here once high-interest debt is gone.

10. Open a high-yield savings account

Once you start saving, you’ll need somewhere to park that money. High-yield savings accounts often offer higher interest rates, helping your money grow faster while remaining accessible for emergencies or short-term goals. Set up automatic transfers to make saving consistent and effortless. 

Putting it all together 

Learning how to save money when renting isn’t just about cutting costs — it’s about creating flexibility. Whether that means finding a more affordable apartment, paying off debt, or cooking more at home, small changes can add up to big savings.

*Zillow Insurance Services, LLC (“ZIS”) is a licensed insurance producer in all 50 states and Washington D.C. ZIS is a member of the Zillow family of businesses.