How much money do I need to move out?

You typically need 3-4 months of rent upfront (first month, security deposit, sometimes last month), plus moving costs ($500-$1,500), utility deposits ($200-$300), and furniture if needed ($800-$5,000). Add a 3-month emergency fund. For a $1,500/month apartment, expect to need $8,000-$15,000 total.

What is the 30% rule for rent?

The 30% rule suggests spending no more than 30% of your gross monthly income on rent. If you earn $4,000/month, your rent should be under $1,200. This leaves room for other expenses, savings, and emergencies. Going above 40% is generally not recommended.

How much should I save before moving out?

Save at least: upfront costs (first month + deposit + moving = ~3x rent), emergency fund (3-6 months of expenses), and furniture budget if needed. For a $1,500/month apartment with $4,500 monthly expenses, aim for $18,000-$25,000 minimum.

What are typical upfront costs for an apartment?

Typical upfront costs include: first month's rent, security deposit (usually 1 month's rent), last month's rent (in some cities), broker fee (in NYC/Boston), utility deposits ($200-$400), and moving expenses ($500-$1,500). In expensive cities like NYC, this can total 4-5 months of rent upfront.

Can I afford to move out making $40,000 a year?

At $40,000/year (~$3,333/month gross), following the 30% rule, you can afford about $1,000/month in rent. This is achievable in many mid-sized US cities, especially with a roommate. In expensive cities like NYC or SF, you'd likely need roommates or a longer commute.

Is it cheaper to live alone or with roommates?

Living with roommates is typically 30-50% cheaper. A $2,000 2BR split between two people ($1,000 each) is often cheaper than a $1,400 1BR alone. You also split utilities, internet, and household supplies. The tradeoff is less privacy and potential compatibility issues.

Updated for 2026US • Canada • UK • Australia

Move Out Budget Calculator

Find out exactly how much money you need to move out and when you can afford your first apartment. Get a complete breakdown of upfront costs, monthly expenses, and personalized recommendations.

$1,500/mo rent

~$9,000

upfront minimum

$2,000/mo rent

~$12,000

upfront minimum

30% Rule

Max Rent

of gross income

Emergency Fund

3-6 months

of expenses

Move Out Budget Calculator

Find out when you can afford to move out and how much you'll need

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How Much Money Do You Need to Move Out?

A breakdown of typical costs for your first apartment

Typical Upfront Costs

First month's rent1× rent

Security deposit1× rent

Last month (some cities)0-1× rent

Broker fee (NYC/Boston)0-1× rent

Moving costs$500-$1,500

Utility deposits$200-$400

Rule of thumb: Save at least 3× your target rent for upfront costs, plus a 3-month emergency fund. For $1,500/month rent with $4,000 monthly expenses, aim for $16,500+ before moving out.

The 30% Rule: How Much Rent Can You Afford?

Financial experts recommend spending no more than 30% of your gross monthly income on rent. This leaves enough for other expenses, savings, and emergencies.

$36k/year income

$900

max rent/month

$48k/year income

$1,200

max rent/month

$60k/year income

$1,500

max rent/month

$78k/year income

$1,950

max rent/month

Above 40% is risky. If rent exceeds 40% of income, you'll struggle to save and handle unexpected expenses. Consider roommates or a different location.

Tips to Move Out Faster

Consider Roommates

Splitting a 2BR can be 30-50% cheaper than a 1BR alone. You'll also split utilities and household costs.

Automate Savings

Set up automatic transfers to a "move out fund" each payday. Aim for 50% of income if living at home.

Skip Furniture Initially

Start with essentials (bed, basic kitchen items). Buy furniture gradually from Facebook Marketplace or thrift stores.

Explore Different Areas

Look at neighborhoods 15-20 minutes from downtown. Rent can be 20-30% cheaper with a slightly longer commute.

Time It Right

Winter months (Nov-Feb) often have lower rents and more negotiating power. Avoid September in college towns.

Build Credit First

Good credit (670+) helps you avoid larger deposits and get approved for better apartments. Start with a secured card.

Frequently Asked Questions

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Disclaimer: This calculator provides estimates based on typical costs and averages. Actual costs vary by location, landlord, and personal circumstances. Always research specific apartments and factor in your unique situation before making financial decisions.

Move Out Budget Calculator

How Much to Move Out?

The 30% Rule for Rent

Tips to Move Out Faster

FAQs

Browse by City

Related Calculators

Typical Upfront Costs

Consider Roommates

Automate Savings

Skip Furniture Initially

Explore Different Areas

Time It Right

Build Credit First

How much money do I need to move out?

What is the 30% rule for rent?

How do I know when I'm ready to move out?

What is a security deposit?

Should I get a roommate or live alone?

Can I move out making $40,000/year?

How much emergency fund do I need before moving out?

What's a first apartment checklist?

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