Use this tool to compare two or three rental properties side by side. Enter the rent, security deposit, utilities, and commute cost for each property and see the total monthly cost and 12-month cost for each. The comparison table gives you the same information for each property in the same format, so you can make a like-for-like comparison before deciding.
Enter details for at least two properties. Leave commute blank if you have not calculated it yet.
Property 1
Property 2
How to use this tool
- Enter the details for your first property, including rent, security deposit, and whether utilities are included.
- Add a second property. Add a third if you are comparing more than two.
- The comparison table will show total monthly and 12-month costs for each property side by side.
Understanding your results
Total monthly cost includes rent, estimated utilities (if not included in rent), and commute. It does not include the security deposit, because the deposit is a one-off upfront cost, not a recurring monthly cost. The 12-month cost multiplies your total monthly figure by 12 and assumes rent and utilities stay the same across the year.
Commute cost is user-entered and is an estimate. If you have not calculated your commute cost, use a monthly transit pass price or an average weekly fuel and parking cost multiplied by four. Where commute is not entered for a property, that column’s total may be understated.
Legal context
Security deposit limits vary by state. Many states cap deposits at one to two months’ rent, though some have no statutory cap. Check your state’s landlord-tenant law before signing a lease. Utilities included in rent should be listed in the lease agreement. If a landlord says utilities are included but this is not written into the lease, it is not enforceable.
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Frequently asked questions
How do I calculate price per square foot for an apartment?
Divide the monthly rent by the apartment’ square footage, then multiply by 12 to get the annual cost per square foot. A 700 sq ft apartment at $2,100/month works out to $36 per square foot annually. Most US listings include square footage, but verify this against the floor plan if available, as advertised figures can include shared hallway space.
What is the true monthly cost of renting an apartment?
Add rent, utilities (gas, electric, water if not included), parking fees, pet fees, renter’ insurance (typically $15 to $30 per month), and any required storage or amenity fees. Some buildings charge separately for trash removal or package concierge services. Always ask the landlord for a complete list of fees before signing the lease.
What is the premium for a month-to-month lease versus a 12-month lease?
Month-to-month leases typically cost 10 to 25 percent more than a 12-month lease on the same unit. Some landlords charge a flat premium of $100 to $300 per month. The flexibility is worth paying for in uncertain situations, but if you plan to stay for a full year the fixed-term lease will save money.
Can landlords charge application fees, and how do they vary?
Application fee rules vary by state. California caps application fees at the actual cost of a credit check (around $30 to $50). New York City banned most application fees for residential rentals in 2019. In states without caps, fees of $50 to $150 per applicant are common. Check your state’ tenant protection laws before paying.
What credit score do landlords typically require?
Most landlords and large property management companies require a minimum FICO score of 620 to 650. In high-demand urban markets such as New York City or San Francisco, requirements of 700 or above are common. Some landlords accept a co-signer or larger deposit in lieu of a qualifying credit score.
What should I ask at an apartment showing?
Ask about average utility costs for the unit, the age of the HVAC system and appliances, pest control policy, how maintenance requests are handled, the lease renewal process, and whether the rent has increased in the past two years. Find out what the previous tenant paid and why they left.
What is a broker fee and when is it included in the rent?
A broker fee is a commission paid to the rental agent, historically charged to the tenant in cities like New York. New York City’s FARE Act (effective June 2025) shifts this fee to whichever party hired the broker, which is typically the landlord. Outside New York, broker fees are uncommon except in tight urban markets. Always confirm in writing whether a broker fee applies before viewing.
What is the difference between a rent-stabilised and a market-rate apartment in New York City?
Rent-stabilised apartments in New York City have annual rent increase limits set by the Rent Guidelines Board. As of 2024, increases are capped at 2.75 percent for one-year leases. Market-rate apartments have no such cap. Stabilisation status is tied to the building and unit, not the tenant, and can be checked via the DHCR Rent Stabilized Building Search.
How do security deposit caps work, and do they vary by state?
Yes, security deposit limits vary significantly. California caps deposits at two months’ rent for unfurnished units. New York caps them at one month’ rent (2019 Housing Stability Act). Texas has no statutory cap but requires return within 30 days. Florida caps interest on held deposits. Always check your specific state’ landlord-tenant statute before paying.
What lease renewal terms should I watch for?
Check how much notice the landlord must give before a rent increase or non-renewal. Most states require 30 to 60 days’ notice. Confirm whether auto-renewal clauses lock you into another full term if you do not give written notice by a specific date. Ask for the renewal terms in writing before signing the original lease.