How Much Does It Cost to Move Into an Apartment?
The actual total is usually 2–4 months of rent. Often more than first-time renters expect. Here is every cost to budget for, with real numbers.
Total move-in cost by rent level
* Minimum assumes first month + 1 month security deposit only. Typical adds last month + moving costs + basic setup.
Full Cost Breakdown
Here is every category of cost you may encounter. Not all will apply. Budget for what is relevant to your situation.
6 Ways to Reduce Your Move-In Costs
Practical strategies that can cut your total upfront costs by hundreds or thousands of dollars.
Negotiate the security deposit
Private landlords are often willing to accept a smaller deposit if you have good credit and a strong application. Even reducing it by half a month saves hundreds.
Ask for a move-in special
Many apartment complexes offer one month free rent, reduced deposits, or waived application fees. Especially for units that have been vacant. Always ask.
DIY your move
Renting a truck and enlisting friends can cut moving costs from $1,500 to $150. Offer pizza and beer. Still a great deal.
Buy essentials secondhand
Facebook Marketplace, OfferUp, and Craigslist have furniture for 10–20% of retail. A full living room setup can cost under $200.
Build your credit before applying
A better credit score means lower security deposits (or none at all) and fewer utility deposits required. Even 60–90 days of on-time payments can help.
Time your move strategically
Moving companies charge 30–40% more on weekends and at month-end. Booking mid-week in the middle of the month can save significantly.
Pre-Move Financial Checklist
Show landlords you are financially ready
Settl Verified Passport with bank-verified income gives landlords confidence in your ability to pay. Which means fewer upfront deposit requirements and faster approvals.
Frequently Asked Questions
How much money should I have saved before moving into an apartment?
As a general rule, you should have at least 3 months' rent saved before moving in. This covers first month's rent, a security deposit (1–2 months), and a one-month buffer for emergencies. For a $1,500/month apartment, that means having at least $4,500–$6,000 saved.
Is the security deposit refundable?
Yes. Security deposits are legally required to be refundable, minus deductions for damage beyond normal wear and tear, unpaid rent, or cleaning costs. Most states require landlords to return it within 14–30 days of move-out. Get a move-in inspection report signed by both parties.
What is included in "first and last month's rent"?
First month's rent is your rent for the first month of the lease. Last month's rent is a prepayment for the final month, held by the landlord and applied when you give notice to leave. Not all landlords require last month's rent. It varies by state and landlord.
What if I don't have enough for the security deposit?
Options include: negotiating a payment plan (some landlords allow this), offering a larger first month's rent in lieu of a deposit, using a co-signer to strengthen your application, or looking for apartments that advertise "low deposit" or "deposit alternatives." Some services offer deposit insurance (you pay a monthly fee instead of a lump sum).
Does renters insurance cover my move-in costs?
No. Renters insurance does not cover your upfront moving costs. It covers your personal property inside the apartment (theft, fire, water damage) and personal liability. It is a monthly expense, not a reimbursement for move-in fees.
How does having a Settl Verified Passport help with move-in costs?
A strong Settl Verified Passport. With bank-verified income, good payment history, and verified identity. Makes you a more trusted applicant. Landlords are more likely to offer reduced deposits or waive fees for qualified applicants. Some landlords who trust a Settl-verified profile may not require a security deposit at all.
A credit score is one signal.
Landlords need the full picture.
A credit score alone can't tell a landlord if you have money today, paid rent on time, or who you actually are. Settl answers every question — and includes a soft-pull credit check so landlords get the full picture in one verified report.
Your landlord never sees your bank account.
When you connect via Plaid, Settl reads your income and generates your verification. Your landlord receives only the verified tier and rent ceiling — never your exact income figure, account numbers, balances, or any raw bank data. Your SSN is never shared.
Soft pull only. Zero score impact.
Landlord-initiated credit checks trigger a hard inquiry and can lower your score. Settl's VantageScore 4.0 check is a soft pull, run by Settl on your behalf. Results go straight into your Passport. No hard inquiry. No score impact.
VantageScore 4.0 via TransUnion
Soft pull · zero score impact · included in every Settl Passport
30-day validity · unlimited landlords · Valid 30 days at any property