Typically, your electric bill may run anywhere from $30 to $100 and may be above, depending on how much power you consume. Your water includes your sewage, and many families pay, on average, about $40 a month for water. Your utilities include your electricity, heat and air conditioning, and water. This is not always the case, however, and if your landlord doesn’t handle the utilities, then you will have to foot the utility bills on top of your monthly rent. One thing that can come with paying rent is that, oftentimes, your utilities may be included in your rent. These fees are usually non-negotiable, so this is where having a bit of a nest egg saved up before you make your move might be a great idea. If, however, you’re planning on moving to a bigger city such as New York or Los Angeles, then you can expect to be paying upwards of a thousand dollars a month for an apartment. Another thing to consider when getting ready to begin renting is to consider that most landlords will want a security deposit put down, along with the first and last months’ rent. If you’re in a smaller town, prices for apartments and homes might be more forgiving.

While there is no concrete price to expect, you can at least expect to pay a few hundred to over a thousand dollars a month, depending on where you live. The prices you can expect to pay for rent will vary wildly depending on where you live, or where you plan to move. Your rent will be entirely dependent on how where you live, the type of dwelling you’re looking to rent, and whether you’ll have any help, such as roommates. If you’ve never rented before, then you might be wondering what the average rent is. The answer is, there is no concrete price to expect. The biggest concern for anyone who is renting a home or an apartment month-to-month is making sure they are able to pay their rent on time every time, to ensure they keep their roof above their head. If you’re still considering your move and haven’t quite pulled the trigger on it, then you need to start categorizing and thinking about what your monthly expenses will look like. So, breaking down your expenses will help you have a clear picture of what your new life is going to be like after your move. If you don’t have a little bit of money to fall back on while you’re first getting used to your new living arrangements, then hopefully you have a job or a line of credit you can use to help keep you afloat. Hopefully, upon moving out, you have built up some savings. When you first strike out on your own, the first thing you’ll probably be on the lookout for is a place you can rent in your price range. This lasts several hours, or they may ask participants to complete a dairy survey in which each purchase they make in two different 1-week periods will be recorded.Īll data discussed in this article is from 2018 and was published on Sep.

The BLS gets data from people who agreed to give detailed information or useful purposes.Ĭensus Bureau workers often conduct secrete phone interviews about the large and recurring expenses of participants. Dad, Mom, and son (age 14) would be a single consumer unit. So, for instance, three roommates would be equivalent to three consumer units. That implies that the average budget for an American is $61,224 and is a 1.9% increase from the previous year.Ĭonsumer units, according to the BLS, include families, a single individual living alone, or sharing a home with others but who don’t depend on another financially, or two more persons living in the same place and share major expenses. One consumer unit spends an average of $5,102 every month in 2018.

Sample budget plan for single person