“I am looking for a cheap apartment near me, 1 bedroom, comfortable, and spacious enough to store all my belongings”. This statement is common among people who’ve just moved to a big city or tenants looking to cut costs by moving into a smaller and cheaper house.
Getting a cheap single-bedroom apartment to rent in an urban or metropolitan area is quite expensive. For example, a one-bed roomed house in Boston costs around $2,930 a month. It is even higher if you are in San Francisco as it costs approximately $3,360 per month. This is the harsh reality of living and working in a major city in the US.
However, it is not all doom and gloom, as there are strategies you can adapt to find an apartment that suits your budget.
Tips For Searching For Cheap Single Bedroom Apartment
When looking for a cheap or affordable one-bedroom apartment, you can start by searching for them on the internet using terms such as cheap apartment for rent near me or cheap apartment near me 1 bedroom.
When doing the search, you need to keep an open mind and be ready to scale down on some of your expectations. Think about the things that your preferred apartment should not miss and the things you can compromise.
High-priced apartments are generally located in prime areas such as locations close to public transport, bars, and famous landmarks. Therefore, you might need to look at apartments situated on the city’s outskirts. You may discover areas outside the town but not too far from the heart of the city, with fairly-priced one-bedroom apartments.
Also, watch out for move-in specials and offers on long-term lease discounts. You can also opt to share a pad with one or two roommates. With this option, you not only get to reduce your rent, but you also get a spacious apartment and enhance your social network.
Here are the factors to consider when searching for a cheap single bedroom apartment include;
1. The 30 percent rule
The 30 percent rule stipulates that your rent should not exceed 30% of what you earn (your monthly salary/income after tax, multiply by 30 percent). Most Landlords usually use this formula to establish whether a potential tenant has the ability to pay the proposed rent.
Another vital thing to note is that there are other charges that you may be required to pay in advance before you settle in your new home. Therefore, it is wise to start saving early for the utility cost, rent deposit and moving/transportation cost.
2. Call the renting agency
The easiest and fastest way of getting a cheap rental one-bedroom apartment is by directly calling the rentals agency. Searching through the internet will give you a lot of options, and it’ll take a lot of time to compare prices, but by calling the agency directly, you will get to know the price, location, and all the other features you’d want to know about in a short time.
Furthermore, the availability of a rental apartment keeps changing, especially for a cheap, conveniently located, single bedroom apartment, and therefore by calling the agency, you get up-to-date information.
To get an immediate response, call the leasing or renting agency on a weekday and during business hours, preferably between 9 and 11 in the morning. Take time and inquire about all the house details, including the lease term, rental price, preferable mode of payment, guest or pet policy, renters insurance, the security of the premise, and any other information you would want to know.
Don’t forget to inform them that you intend to move in as soon as possible. You can also schedule a tour of the apartment at this point.
Things To Consider When Looking For A Cheap Single Bedroom Apartment For Rent
1. Determine what ‘cheap apartment near me, 1 bedroom’ means to you
When looking for a fairly-priced single-bedroomed apartment, you will need to conduct brief research to establish what you can afford in terms of the apartment’s location, size, and amenities (LSA).
The LSA are the three main factors that drive an apartment’s price and determine how much space you’ll get per dollar. Read along for more information about these factors.
Location of the apartment
Some people prefer living close to the center of the city, and they are ready to pay a higher amount for a smaller house. On the other hand, some cherish a relaxed suburban life – away from the urban areas’ hustle and bustle.
Whatever category you fall in, you should bear in mind that it’ll cost you more to live in a popular and densely populated metropolitan area as compared to living in a suburban area.
The size of the apartment
The size of the apartment – whether the rooms have small, medium or large floor areas – influences the cost of renting it. If you are on a thin budget, you might need to consider one-bedroom apartment with small or medium-sized rooms. The first thing to do is to envisioning how you will use each room.
For instance, would you want your bedroom to be strictly a place to sleep, or would you also use it as a home office? Do you want a bigger living space for your guest or just a small area where you can relax and watch your TV?
Single bedroom apartments that are fully furnished, with amenities such as air conditioning, balcony space, dish washers, recreational areas, high speed internet, and parking space will cost more compared to the one that doesn’t have these features.
However, in some cities, you can find a one-bedroom apart at a fairly low price. In a nutshell, you need to balance your preference vis-à-vis your budget. Think about what you would want in each room and assess what you can do without.
2. Visit the prospective single bedroom apartments
It is essential to visit your potential home before signing the lease agreement. Visit all the possible single bedroom apartments’ rentals that meet your criteria and carefully assess them. Examine all the details and check every item’s status, including walls, carpet, and appliances.
You can also walk around the building or apartment complex to have a feel of the surroundings. You can also interact with your prospective neighbors and know their views concerning the apartment grounds and the neighborhood in general.
3. Compare your furniture space and the potential apartment’s floor area
One common mistake that most people do when moving houses is that they don’t consider the amount of floor area their furniture and other household items occupy compared to the apartment they are planning to move into.
After they have moved into that one-bedroom apartment, they discover that they cannot fit all their furniture in their new house. To avoid this disappointment, you can get the floor plan either from the community profile page or the rental agency website.
4. Make up your mind quickly
One thing with cheap rental apartments is that they don’t stay available for long. Therefore when you are applying for a prospective apartment, do the best you can to ensure that you are on top of the applicants’ list.
The demand for a cheap single-bedroom apartment exceeds supply – so establishing a strong first impression will go a long way in acquiring the apartment you desire. Go prepared with your tax returns, pay stubs as proof of employment and income, references, credit report, and checkbook.
5. Community and neighborhood compatibility
Whether you are moving to a different area of the city or changing states, finding the right apartment that meets your preference and suits your personality is crucial. Consider your routine activity, your morning runs, your weekly activities, and errands – can you be able to continue with these activities in your new home?
Another important thing is how convenient is the apartment to other public or social amenities. Map out the nearest shopping center, hospital, and police station. How far is the closest Laundromat and grocery store?
6. Consider your comfort
Even if the potential apartment meets all of your needs, the most fundamental question that you have to ask yourself is whether you feel at home in this particular place. Remember that feeling comfortable, relaxed, and secure in a neighborhood is an essential requirement for happy living.
Moreover, looking for a cheap apartment should not mean that you should live in an area with poor and devoid of important amenities. You can find an affordable and ideal apartment that meets most of your preferences and in a secure area if you are patient and know what to look out for.
Frequently Asked Questions (FAQ)
Are studios cheaper than one bedroom?
In most big cities, studio apartments are highly-priced compared to one-bedroom apartments. The high studio rental prices are attributed to the upscale upgrade and their high-end location.
However, there are a few exceptions where one-bedroom apartments cost more than a studio apartment. Basically, the price is dependent on the location and size of the apartment.
Where is the cheapest place to rent an apartment?
The Cheapest places to rent an apartment are in areas located outside the town or in a residential district. Other areas where you can find one-bedroom rental apartments at a cheaper price are lower-income neighborhoods or parts of the city earmarked for future redevelopment.
You can also check out the apartments located in the suburban areas. You can search for a convenient suburban area where there is access to public transport and is not far away from your business or workplace.
What is the difference between a single bedroom and a studio apartment?
The main difference between a single bedroom and a studio apartment is that a single bedroom apartment has a bedroom that is distinct and separate from the living area. In a studio apartment, the living and the bedroom are the same.
The bedroom doubles up as the living room and is also the kitchen. It is only the washroom that is separated from the bedroom-living room
What days are apartments the cheapest?
The best day to rent an apartment at a relatively cheaper price is Mondays and Fridays. The Rental prices are usually higher on Tuesdays and Sundays, and therefore you should avoid these days. The best time to make the payment is between 9, and 10 am since this is the time when the managers are highly likely to list new rates.
This is also the time when most employees should have reported to work and have settled down. If you can do your price comparison and make payments during this time, you can easily land a good deal.
Which city has the cheapest apartments?
The city with the cheapest apartment in Cleveland, Ohio. With a population of 387398, Cleveland has an overall median rent of $773. The cost of renting or leasing a single-bedroom apartment in this city is $611, while a two-bedroom house costs around $779.
Other cities with a relatively cheaper overall median rent include Toledo, Akron, Amarillo and Fort Wayne.
How can you find a cheap one-bedroom rental apartment fast?
The best way to find a cheap rental one-bedroom apartment fast is by searching for it on ads websites such Craiglist, or you can compare apartment prices on different apartment or real estate websites. You can also choose to join the local apartment or housing groups on Facebook and inquire and compare prices.
Alternatively, you can search through a low-cost housing area or negotiate with your current landlord for rent reductions. Another good option is to get a roommate and share the rent.
If it is your first time looking for a rental apartment to move into, you will begin to realize that finding an apartment can be a daunting task without the right guide. There is no worse feeling than finding a magnificent, utterly sumptuous apartment with enough space and the right fittings – just the way you want it, only to discover that it does not fit your budget range.
Without the right information and proper guide, looking for a cheap apartment can be quite overwhelming. However, by following the information provided above, your search for a cheap apartment for rent near me will be a smooth and easy process.