Renter tool
Chicago apartment budget calculator
See what an apartment really costs before you apply. Enter the numbers from a listing or a property's written quote to estimate what's due at move-in, what you'll pay each month, and how a concession changes the picture.
- Upfront costs
- One-time charges due before or at move-in — application, administration, deposit or move-in fee — plus your first month's recurring costs.
- Recurring costs
- What you pay every month: rent plus utilities, parking, pet rent and insurance. A concession doesn't lower this amount.
- Net-effective rent
- Free rent spread across the whole lease. Useful for comparing offers, but it isn't what you're billed in the months you pay.
Interactive example — not a quote
Try the numbers: move-in and monthly budget
Start with this example and change any amount to match an apartment you're considering. Application and administration fees, concessions, utilities, parking and pet costs vary by property and lease terms — get the real figures in writing from the property.
1. Estimated first-month cash due
$3,055
- Application fee
- $50
- + Administration fee
- $500
- + Jared's broker service
- $0
- + Rent (first month)
- $2,500
- + Utility package (first month)
- $125
- + Electricity (first month)
- $40
- + Parking (first month)
- $300
- + Pet rent (first month)
- $25
- + Renter's insurance (first month)
- $15
- − Concession credited at move-in
- $500
- = Total
- $3,055
2. Estimated recurring monthly costs
$3,005/mo
- Rent
- $2,500
- + Utility package
- $125
- + Electricity
- $40
- + Parking
- $300
- + Pet rent
- $25
- + Renter's insurance
- $15
- = Total
- $3,005
A concession doesn't lower this monthly amount.
3. Concession and how it's applied
−$500
$500 is subtracted from what's due at move-in. Confirm in writing that the property applies it this way — many don't.
Optional example
What “one month free” works out to
Net-effective rent spreads free rent across the whole lease. It's an average for comparing offers — it may differ from the rent you're billed each month. This is an illustration only; a concession is available only if the property confirms it for a specific apartment and date.
- Rent billed in the months you pay
- $2,500/mo
- Total rent over the lease
- $30,000
- $2,500 × 12 months billed
- Net-effective rent
- $2,308/mo
- $30,000 ÷ 13 months
Go further
- How to budget for a Chicago apartment beyond base rent
- Fees, parking, pet costs and move-in expenses to ask about
- What to verify before you apply
Want help comparing real options? Tell Jared your move date, budget and priorities.
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