Find Cheap Apartments For Rent Near Me | ForRent.com

What to Consider When Searching for Cheap Apartments

Before you begin searching, use this formula to set your budget: (monthly income after taxes) * 30%. Landlords use the same formula to determine if an applicant qualifies as a financially reliable tenant. But remember, you’ll also need to cover a few costs upfront, before you even move in. So it’s key to start saving for the deposit, utility set up costs (unless you find an apartment with utilities included), moving supplies, truck rental, etc. in advance. Moving is expensive, but it’s a lot less stressful when you know you still have money in the bank when it’s over.

It’s also important to look beyond just the cost of rent when deciding what you can afford. Think about outside expenditures ranging from your daily commute to groceries and how much you spend going out. Weigh out the pros and cons of having cheaper rent, but don’t forget to factor in your cost of living.