Renting your first apartment is a big deal, regardless if you’re moving off campus or out of your parents’ basement. You’re an adult and you finally get to do what you want — and take on new costs and choices. Along with monthly rent and renters insurance, plan for realistic move-in cash needs and ongoing fees. In 2025, national asking rents have stabilized but remain well above pre‑pandemic levels: the national “typical” asking rent is in the low $2,100s per Zillow, 0–2 bedroom medians are in the high‑$1,700s per Realtor.com, and new‑lease asking rents are roughly flat year over year per Apartment List. Typical up‑front costs include first month’s rent, a security deposit commonly equal to one month’s rent, application/screening and admin fees, and possible pet/parking charges; regulators have pushed for clearer disclosure of these “junk fees” (CFPB; Zillow renter surveys). This complete student renting guide walks you through finding a place and a roommate, reading a lease, spotting rental scams, and more — plus downloadable templates to guide questions for your landlord and potential roommates.
In This Article:
- Finding the Right Place
- How to Budget When You’re a Full-Time Student
- Choosing the Right Roommate
- Steps to Take if Roommate Issues Arise
- Rental Scams
- Opt for Renters Insurance
- Read Your Lease Carefully
- Decorating Without Causing Damage
- Downloadable Resources
Finding the Right Place
Everyone dreams of finding the right place right away. In today’s market, strong new construction through 2024–2025 lifted vacancies and concessions in many Sun Belt metros while conditions stayed tighter in parts of the Northeast/Midwest (Census HVS; Realtor.com). Use the questions below to filter options and avoid surprise costs.
What’s your budget?
Renter cost burdens are elevated: researchers reported a record 22.4 million renter households paying over 30% of income for housing (Harvard JCHS). A common rule is to keep total housing near 30% of gross income. In late 2025, typical asking rents are in the low $2,100s per Zillow, with studio–2BR medians in the high‑$1,700s per Realtor.com and rents about one‑quarter above March 2020 per Apartment List. Long‑standing HUD concerns about affordability persist, and the highest‑cost urban coasts often face the steepest pressures. Build a realistic budget that includes recurring fees, utilities, and insurance — not just base rent.
When you’re looking for your first apartment, price out several options with total monthly costs (rent + utilities + fees) and compare to your income. Track rent trends locally using multiple sources to benchmark ranges (Zillow ZORI; Realtor.com; Apartment List).
What additional costs are expected?
Expect meaningful cash up front. Typical charges include: application/screening fees (often around $50 per adult), a security deposit commonly equal to one month’s rent, and administrative or move‑in fees (about $100–$300 where charged). Pet deposits/fees (around $200–$300 per pet) and pet rent ($25–$50/month) are common. Parking ranges from about $25–$75/month for surface lots outside urban cores to $100–$300/month for garages in dense metros. Many large operators also require renters insurance (~$15–$25/month). Federal agencies have flagged nonrefundable or duplicative rental “junk fees” and urged clearer, upfront disclosure of total move‑in costs (Zillow renter surveys; CFPB). On a $1,800/month unit, first month ($1,800) + deposit ($1,800) + fees can put typical move‑in near $3,850–$4,000 before utilities and any pet/parking costs (consumer surveys).
Will you need a co-signer?
Many landlords look for combined household income around 3x monthly rent and will screen credit and rental history. If you’re early in your credit journey or between jobs, a co-signer may be required. If a screening report is used to deny or condition your application, you’re entitled to an adverse action notice and a free copy of the report, with the right to dispute errors under the Fair Credit Reporting Act (CFPB guidance).
Using a family member or close friendwith a good credit score as your co-signer is the best option. Don’t go into this agreement lightly, it’s important to sit down and go through the stipulations of the lease to make sure all parties understand what they are being held accountable for. If you do not have someone to co-sign with you, there are co-signer services that can do the job, though they can be expensive.
What are your transportation needs?
Factor the total cost of your commute into “all‑in” rent. Price out monthly transit passes or bikeshare versus owning a car (insurance, fuel, maintenance), and include building costs for parking. Parking can add $25–$75/month for surface lots or $100–$300/month for garages depending on your metro (Zillow renter surveys). Shorter commutes can also save time and help you avoid late‑arrival risks tied to tight bus/train schedules.
Another thing to consider when looking for your first apartment is parking– for both you and your guests. Does your apartment require you to pay extra for a parking spot? Will you and your roommate be able to alternate who gets the shared parking spot? If you don’t have a car, parking is an expense you can avoid, but if you have one, it’s something you have to decide if you’re willing to pay. You should also consider guest parking if you regularly have people over. Many apartments have strict parking regulations that may result in your guest being towed.
How to Budget When You’re a Full-Time Student
| Get a roommate | Shared living can materially lower per‑person housing costs and remains common as affordability pressures persist. Harvard researchers counted 22.4 million cost‑burdened renter households, the most on record (Harvard JCHS). Consider individual vs joint leases (joint = shared liability) and agree on house rules and payment mechanics in writing. |
| Cut the cord | Many students save by dropping cable for streaming services. Compare total monthly costs (internet + chosen services) to a bundled cable plan and split with roommates using digital payment tools; P2P transfers are now mainstream among U.S. consumers (Federal Reserve DCPC). |
| Reduce your energy use | Swap remaining bulbs for ENERGY STAR LEDs (use up to 90% less energy) and use a smart thermostat to automate setbacks (~8% heating/cooling savings on average). Add smart power strips for TVs/consoles and unplug idle chargers (ENERGY STAR LEDs; smart thermostats). |
| Use a budgeting app | Using a budgeting app like Mint will help you track what you spend and bring visibility to your unnecessary spending. You can also set up alerts for balances and bills so you never accidentally miss a payment. |
| Take advantage of seasonality | When your timeline allows, compare prices across months; leasing activity often dips in winter. Also look for concessions in high‑supply markets where vacancies rose with 2024–2025 completions (Apartment List; Census HVS). See historic month‑to‑month trends: December and January often see lower demand. |
Choosing the Right Roommate
Roommates can make rent affordable, but compatibility and clear expectations matter. Hybrid/remote work remains elevated, so align on quiet hours, call schedules, and bandwidth needs (WFH Research). Use digital tools to split costs and track chores; P2P payments and shared ledgers are now standard for roommates (Federal Reserve DCPC).
Similar social circles
Start in your social circles when looking for a roommate. Surrounding yourself with like-minded people who have similar values and interests is a way to avoid possible conflicts for the future. However, picking your closest friends is not always a sure fix either. If you find that you aren’t compatible as roommates, what happens to your friendship? An alternative is asking your friends or family members if they know of anyone looking; their recommendation can be a great starting point.
Financial responsibility
Discuss income, savings, and credit up front and decide whether you’ll sign a joint lease (shared liability for all rent/damages) or seek a landlord that offers individual leases. Verify references and align on how you’ll split utilities, internet, and any parking fees (common charges identified in Zillow’s renter surveys). If a landlord uses a screening report, know your rights to notice and dispute errors (cost of splitting bills; CFPB). In NYC, most landlords are limited in how they can use criminal history as of 2025 (Fair Chance for Housing).
Similar schedules
Finding someone with a similar schedule is essential. If you’re in bed by nine for an early morning class, you don’t want a night owl who’s up playing music until three. Addressing your class and work schedule is a crucial part of successfully cohabiting a space. If you work or study from home, agree on quiet hours, call locations, and guest expectations (WFH Research).
Good communication
Deciding who to live with can be a hard decision and may even take a little while. But it’s worth the effort to find someone who is the right fit. Set up a shared spreadsheet/expense app, agree on who pays the landlord and how reimbursements work, and document late‑payment steps in writing (Federal Reserve DCPC). Start communication early so everyone is comfortable raising issues.
Define your expectations
It’s never a bad idea to have multiple interviews with roommate candidates. Take the time to grab coffee or lunch so you can spend time with them. Pay attention to details and discuss compatibility areas: WFH norms, cleaning schedules, guests, parking, pets, and move‑out procedures. Put these into a written roommate agreement aligned to the primary lease and local rules (e.g., security deposit caps like California’s one‑month limit; CA AB 12).
Steps to Take if Roommate Issues Arise
Refer back to the roommate agreement
We would all like to believe that living with a roommate is always a breeze. While you may gain a lifelong friend, you may instead inherit some serious problems. A roommate agreement is a legally binding contract that you and all roommates sign before moving into your apartment. Referring back to the roommate agreement can remind the roommate(s) what the original terms of living together were. Not every part of this document – like doing the dishes or sticking to the dusting schedule –is enforceable in a court of law. If your roommate fails to pay their share of the rent or refuses to pay for any damage they caused however, you could potentially take action.
| Things to include in your roommate agreement: |
| The price breakdown for each tenant. Include how utilities will also be divided if they are not included in your rent. |
| Responsibility for damages to the residence |
| Guests and significant others |
| Cleaning responsibilities |
| Rules surrounding sharing food |
| How to resolve conflict |
| Expectations for quiet time |
| Pets |
| Rules for smoking and drinking |
Reconsider your lease
If you find that the living situation is not working, it’s time to have a conversation about it. Review your lease for options, fees, and notice requirements, and ask for an itemized, “all‑in” cost sheet (rent plus recurring fees) if you plan changes. Transparency on application, admin, pet, and parking fees has been a policy focus (CFPB). If you decide to go your separate ways, your options are somewhat dependent on your lease.
- Subletting: If your roommate chooses to move out, check your lease and see if you have the option to sublet their room. If you do, make sure you talk to your landlord about the details.
- Shortening your lease: Some landlords are more flexible than others. Some may allow you to transition to a month to month option to avoid ending your lease entirely.
- Breaking your lease: It’s important that you know when to leave. If the situation is unlivable or dangerous, staying to save money isn’t worth it. If subletting is not an option in your lease, you may be forced to break your lease.
Rental Scams
Rental scams are designed to trick you out of money by misrepresenting the price or availability of the property. Scammers increasingly hijack legitimate listings, impersonate owners or managers, and push for instant, hard‑to‑reverse payments (Zelle, Cash App, wire, crypto). If you come across a rental scam, report it to the FTC, the FBI IC3, your State Consumer Protection Services, and local law enforcement. High‑risk venues include social marketplaces and informal group chats; insist on identity verification and safe payment methods (HUD).
| Rental scam | Red flag | What you should do |
| Copied listings | Scammers sometimes copy and paste legitimate listings to create their own. Generally, the price is too good to be true and requires a deposit right away. | Cross‑check on multiple reputable portals, reverse‑image‑search photos, and verify owner/manager identity via public records before any payment. Keep screenshots and message logs (FTC). |
| Renting on behalf of the owner | This scam advertises that the owner may be out of the country or sick and needs someone else to rent their property. The details of these listings are generally very vague. | Do your research to find out who owns this property. Ask them for identification on any tours and verify licensing for property managers via state databases. |
| Asking to wire money | One of the clearest cases, the person renting the property will ask you to wire your security deposit, sometimes even the first month’s rent. | Never wire money or send crypto, gift cards, or instant P2P payments to strangers. Use traceable, reversible methods only after identity verification and a signed lease (FTC; FBI IC3). |
| Signing a lease right away | Another staple of common scams, they will ask you to sign the lease or put down a deposit without ever seeing the property or doing a background check. | Do not sign anything or pay before an interior tour and identity verification. Avoid off‑platform application links; confirm any online forms resolve to a verified manager’s site (FTC). |
Safety tips for touring
Use the buddy system
It’s always a good idea to take someone with you when touring an apartment. Regardless of your gender, bringing a parent or roommate along is one way to avoid unexpected situations. Also establishing a signal or code if you become uncomfortable can help your buddy know when to remove you from the situation.
Keep family updated
If you do have to go alone, make sure that you keep your family updated on your plans. Give them all the information you have: the address, the landlord’s name, contact information, and if anything changes. Downloading a location-tracking app can take care of some of the upkeep.
Do your research
Before you go on any property tours, do diligent research. Cross‑check listings on multiple sites, confirm the property owner via county records, and verify any manager’s license using your state’s database. Be cautious of QR codes and off‑platform links; scammers often move conversations to SMS/WhatsApp to avoid platform safeguards (FTC).
Ask for identification
Confirm the person you are meeting with is the person you expect. Sometimes you will meet at the leasing office to do some paperwork, but you may also meet them directly at the property. Ask for their driver’s license and any additional agent credentials they may have to make sure they are the right person. If something seems off, pause and verify through official phone numbers or websites.
Opt for Renters Insurance
It falls on you to protect your belongings and liability. A standard renters (HO‑4) policy covers personal property, personal liability, loss of use (additional living expenses), and small medical payments to guests (Texas Department of Insurance). Typical national pricing is about $14–$15 per month on average, with state and coverage variation (NAIC 2022 average; Bankrate 2025).
- Personal possessions: Your belongings are covered for named perils like fire and theft, usually at actual cash value by default. Ask for a replacement cost endorsement so claims pay today’s cost to replace. Floods and earthquakes are excluded and need separate policies (TDI).
- Liability: Protects you if you’re legally responsible for injuries or property damage to others, on or off premises; common limits offered are $100,000–$300,000 or higher, with legal defense included per policy terms (TDI).
- Additional living expenses (ALE): Pays extra costs (hotel, meals, laundry) if a covered loss makes your place uninhabitable, up to policy limits (TDI).
| Common misconceptions about renters insurance | |
| It’s too expensive | Renters insurance is among the most affordable policies. The latest official average is in the mid‑$170s/year (~$14–$15/month), though prices vary by state, limits, and deductible (NAIC; Bankrate 2025). |
| You don’t need it if you don’t have much | Even a basic setup adds up. Inventory your belongings and set a property limit that fits (many renters start around $25,000–$50,000). Theft of items off‑premises (like a laptop from the library) is often covered, subject to your deductible (TDI). |
| It only covers what’s in my home | Policies usually include off‑premises coverage for your belongings (policy terms apply) and liability coverage if you accidentally damage others’ property (e.g., a tub overflow). Beware category sublimits for theft of jewelry/electronics; schedule valuables to raise limits (TDI). |
| My landlord has insurance, so I don’t need it | Landlord insurance covers the building, not your belongings or your liability. Many landlords require tenants to carry renters insurance and list the landlord as “additional interest” for notices (Triple‑I; TDI). |
Sharing insurance with roommates
Most policies only cover the named insureds on the policy; roommates typically need their own policy unless your insurer explicitly allows adding them. Sharing a policy can complicate claims and tie your rate to your roommate’s loss history (TDI). Weigh small premium savings against simpler, separate coverage. Some companies allow roommates to share the same renters insurance, which is particularly helpful for college students with limited funds. Though some states, like Florida, don’t allow you to share insurance unless it is your spouse. For the states that do, it doesn’t mean you should. There are some obvious benefits like splitting costs and saving money. Though there are some downsides to consider before deciding to share your insurance: Filing a claim becomes very complicated if you share your insurance with a roommate. Additionally, any past claims they have filed can impact you and raise your insurance rate.
Insurance protects you from possible damage
Fire
It never hurts to take precautions. Unsuspecting things can cause real damage if you aren’t careful. If you enjoy candles or string lights, follow safety guidance and never leave them unattended. Try using string lights with an auto-turn off feature. Contents lost to covered fire are typically insured up to your personal property limit (consider replacement cost coverage; TDI).
Theft
Lock doors and windows; many theft claims involve easy access. Off‑premises theft (e.g., a stolen laptop from a coffee shop) may be covered, subject to policy terms and deductibles. Category sublimits can apply to jewelry/electronics — schedule valuables to raise limits (TDI). 60% of residential robberies happen as a result of open windows or doors.
Property damage
Accidents happen when you host. Personal liability can cover accidental damage or injuries to others, and your policy can include small medical payments to guests regardless of fault. Choose liability limits to match your risk tolerance (many renters select $100k–$300k; higher options exist).
Water damage
Report leaks immediately and document them with photos and dates. Standard policies exclude many types of water damage like sewer or drain backup — consider a water backup endorsement if available. Flood is excluded; renters can purchase contents‑only flood coverage through NFIP, generally up to $100,000 with a typical 30‑day waiting period (FEMA).
Pests/bugs
You share a lot of things when you live in an apartment building: an elevator or stairwell, smells, walls and potential pests. Wood-destroying insects can damage the structural integrity of your home, so exterminating them is essential. Cleaning regularly and throwing away your garbage in sealed receptaclesare some of the ways to avoid pests in your home. If you do find them, read your lease, contact the property management and discuss what steps to take.
Read Your Lease Carefully
Your lease is a legally binding contract between you and your landlord. Read it fully before you sign and ask for a written, itemized “all‑in” monthly cost (rent plus recurring fees) and a line‑item list of one‑time move‑in charges. Application, admin, pet, parking, and convenience fees are common, and transparency has been a 2024–2025 enforcement focus (CFPB). Confirm what utilities are included, whether renters insurance is required, and any fee caps or local deposit rules (e.g., California generally caps deposits at one month’s rent as of July 1, 2024; AB 12).
Know your rights
The rights you hold as a tenant vary by state and city, but core federal protections apply. The Fair Housing Act bars discrimination on protected characteristics; you can file a complaint with HUD. If a landlord uses a screening report to deny you or change terms, you must receive an adverse action notice and a free copy with the right to dispute errors (FCRA). Many jurisdictions also advanced local reforms since 2020, including security deposit caps, limits on screening uses, eviction record sealing, and right‑to‑counsel programs (HUD complaint process; CFPB screening rights; NCSL eviction record sealing; NCSL right to counsel; NY good‑cause update; CA AB 12).
- Reasonable accommodations: If you have a disability, your landlord must make reasonable accommodations for you. This may include installing ramps or assigning a ground-level unit; major remodeling is not required.
- Safe living conditions: Landlords must keep your rental habitable and fix essential services in a timely manner. Report issues in writing and keep records; follow local rules before withholding rent or using repair‑and‑deduct (habitability overviews).
- Notice of entry: Landlords cannot come by unannounced; many jurisdictions require at least 24 hours notice except for emergencies.
- Security deposits: Check caps, interest requirements, and return deadlines. Some places now cap deposits (e.g., California generally at one month’s rent) and require itemized deductions (AB 12).
- Notice of eviction: If you face eviction, seek legal help quickly. Some cities/states have right‑to‑counsel and diversion/mediation programs; many states allow sealing certain eviction records (NCSL; NCSL).
Ways to lose your deposit
Everyone wants their security deposit back. State laws set caps, deductions, and return deadlines, so check your jurisdiction. Provide written notice to vacate as required, complete a move‑out walkthrough with photos, and request an itemized statement of any deductions. Most states give the landlord 30 days from your move out date to return your deposit (or provide an accounting), but timelines vary. Common ways to lose part of your deposit include:
| Property damage | Your lease will state the definition of normal wear and tear. Any damage outside of that classification will result in the forfeiture of your security deposit. Depending on how severe the damage is, your deposit may not cover it and you would get a bill from management. |
| Not cleaning before you leave | Landlords do not expect your apartment to be perfectly clean when you leave. Though if excessive cleaning is required or if they have to hire someone to come in, they will use your deposit to cover the costs. |
| Leaving before your lease is up | Your lease states what kind of notice is required to vacate your apartment. If you do not follow what is outlined and leave early, you forfeit the deposit. |
| Leaving your belongings | Never leave anything in the apartment once you’ve moved. In some states, you aren’t “moved out” until everything you own is out of unit. If you leave something, your landlord might be able to charge you an extra month’s rent. |
Decorating Without Causing Damage
Don’t stress over your security deposit — it doesn’t mean you can’t decorate. Ask what’s allowed, and favor removable, non‑damaging options. Renter‑friendly energy and comfort upgrades can also save money: swap to LEDs, use smart plugs, add removable weather‑stripping or interior window film to reduce drafts, and choose faucet aerators/low‑flow showerheads. An ENERGY STAR certified smart thermostat can save about 8% on heating/cooling if your system allows one (ENERGY STAR LEDs; smart thermostats; EPA WaterSense).
Hanging art
Many landlords are flexible on allowing you to hand things their rental properties. Even still, there are great alternatives to making holes in your walls. There are a ton of adhesive hanger options on the market. You can choose by size, color, and how much weight they can hold. When you want to hang things that aren’t framed, try Washi tape or other colorful vinyls. Use them to make patterns or hang your favorite pictures.
Wall alterations
Why settle for plain white walls when you can dress them up with peel and stick wallpaper? Made for hanging in rentals, removable wallpaper is a fun way to transform your rental. For a functional twist, try removable chalkboards.
Rugs
If you aren’t in love with the flooring in your rental, try adding rugs to liven up the room. Having rugs in your home also protects your floors. What’s not to love about that? To avoid any injury to yourself or guests, consider adding a non-slip backing to your rugs on vinyl or hardwood floors.
Navigating the rental process for the first time is both exciting and scary. The best preparation is to be well‑informed: build an “all‑in” budget with fees and commute costs, align with roommates using written agreements and digital tools, compare multiple listings and verify identities to avoid scams, choose the right renters insurance options for your situation, and know your evolving rights under federal, state, and local law.
