How Much Should You Save Before Renting in Los Angeles?
Key Takeaways
Most renters need 3–4x their monthly rent saved upfront to cover deposits, fees, and moving costs.
The average rent in Los Angeles is higher than the national average, making it one of the most expensive cities in the US.
Utilities, furniture, renter’s insurance, and unexpected expenses add to living expenses.
Many landlords require proof of monthly income 3x rent as a rule of thumb.
Budget-conscious renters should consider neighborhoods like Warner Center in Woodland Hills.
Los Angeles is one of the most expensive cities in the US, and rent prices here are often much higher than the national average. If you’re planning your first apartment in Los Angeles or preparing to move to LA for work or school, you may be asking: How much money do you need to save before renting in Los Angeles?
The short answer: you’ll need to save at least 3–4 times the rent for deposits, first month’s rent, and setup costs. But the exact number depends on your lifestyle, neighborhood, and whether you’ll share a place with a roommate.
Looking for affordability without sacrificing lifestyle? Explore rent options at Pendant on Topanga, modern apartments near Warner Center.
Typical Move-In Costs for Los Angeles Renters
When you rent an apartment in Los Angeles, there are several expenses to consider beyond just rent:
- Security Deposit: Usually equal to one month’s rent, sometimes up to two months’ rent. Many landlords also charge a pet deposit if you bring pets.
- First Month’s Rent: Paid upfront at lease signing.
- Last Month’s Rent: Some landlords require it, especially if your credit report shows high credit card debt or lower income.
- Application Fees & Rental Application Checks: $30–$50 per person for a background and credit check.
- First Apartment Essentials: Furniture and moving costs can add thousands.
Good rule of thumb: Always budget at least 2–3 months’ rent worth of savings for upfront costs alone.
See our LA Apartment Credit Check blog for details on background and credit check requirements.
Move-In Cost Table Example
Expense Type | Typical Cost in LA | Notes |
Security Deposit | 1–2 months’ rent | Many landlords require this; refundable if unit is in good condition |
First Month’s Rent | $1,900–$3,600+ | Depends on unit size (studio, 1BR, 2-bedroom apartment) |
Last Month’s Rent | Optional | Sometimes required in competitive rentals |
Application Fees | $30–$50 per person | Covers background and credit check |
Moving Costs | $500–$1,000 | Includes hiring movers or renting a moving truck |
Furniture & Essentials | $1,000–$3,000 | Beds, sofa, cookware, cleaning supplies |
Utilities | $200–$300/month | WiFi, gas, electric, trash |
Renter’s Insurance | $15–$25/month | Often required by landlord |
Total upfront savings needed: 3–4x monthly rent.
How to Calculate Your Apartment Budget in LA
The biggest factor in your move will be rent. The average rent in Los Angeles ranges from:
Studio: $1,900–$2,300
1-Bedroom: $2,300–$2,800
2-Bedroom Apartment: $3,400+
Rule of Thumb: Many landlords require your gross income on rent to equal at least 3x your monthly rent. Some even use 30 percent of your income as a guideline, but in LA’s high cost of living market, it’s often closer to times the monthly rent.
Example: If your rent is $2,500, you need to earn at least $7,500/month in gross income. That means you’ll need to earn more than $90,000 annually to qualify.
Use an apartment budget calculator LA to check the rent you can afford before you get an apartment. Compare layouts and costs on our Pendant Floor Plans.
Extra Costs First-Time Renters Should Plan For
Your monthly rent is only one part of your living expenses. Other costs to move into an apartment in Los Angeles include:
- Utilities: Expect $200–$300 monthly. Utilities include water, gas, electricity, trash, and WiFi.
- Moving Costs: Hiring movers or renting a truck can cost $500–$1,000.
- Furniture & Essentials: Setting up your first apartment often costs $2,000–$3,000.
- Renter’s Insurance: Many landlords require it. Protects against theft, fire, or accidents.
- Unexpected Expenses: Think cleaning fees, parking permits, or replacing appliances.
Want to save? Renting at Pendant on Topanga reduces costs by including fitness centers, co-working spaces, and social amenities in rent, so you don’t need extra memberships. Check out the Pendant Amenities page.
How Much Should You Save Before Renting in LA?
So, how much money do you need to save before you move to LA?
Example Savings Breakdown for a $2,300/Month 1-Bedroom Apartment
| Expense Type | Estimated Cost | Notes |
|---|---|---|
| Security Deposit | $2,300–$4,600 | Usually 1–2 months’ rent; varies by landlord |
| First Month’s Rent | $2,300 | Paid upfront at lease signing |
| Application Fees | $50 | Covers background and credit check |
| Moving Costs | $700 | Hiring movers or renting a moving truck |
| Furniture/Essentials | $2,000+ | Bed, sofa, cookware, cleaning supplies, etc. |
| Renter’s Insurance | $20/month | Often required by landlord, protects against theft/damage |
Total Needed Savings: $7,000–$9,000
This is why many renters recommend having at least 3–4 months’ rent saved in a savings account before moving. That way you can handle deposits, first apartment expenses, and any unexpected expenses without stress.
Budget-Friendly Neighborhoods to Consider
While LA is one of the most expensive cities in the US, some neighborhoods are more budget-friendly:
- Koreatown: Central, vibrant, affordable compared to Santa Monica or West Hollywood.
- Warner Center / Woodland Hills: Offers modern apartments, green spaces, and lower housing costs than coastal neighborhoods.
- West Hollywood: Trendy and central but pricier — best for those with higher income.
- Santa Monica: Offers beautiful beaches and lifestyle perks, but with higher than the national average rent.
Learn about lifestyle options in our Living Near Warner Center blog.
Conclusion
Saving money before renting in Los Angeles is critical. With a high cost of living and one of the most expensive rental markets in America, you’ll want to save at least 3–4 months’ rent worth in a savings account before you find an apartment.
If you want to save smart, look for neighborhoods like Warner Center in Woodland Hills, where you can get an apartment that balances affordability, modern design, and lifestyle.
Contact us today and start planning your move to LA today!
Frequently Asked Questions:
How much money should I save before renting in Los Angeles?
Save at least 3–4x your monthly rent to cover deposits, first month’s rent, and setup costs.
What are the average move-in costs in LA?
Security deposit, first and last month’s rent, application fees, and moving costs — usually totaling $7,000–$9,000.
Do you need 3x rent to qualify for an apartment in Los Angeles?
Yes, many landlords require monthly income 3x rent, or 30 percent of your income, to qualify.
How much should I budget for my first apartment in LA?
Budget $7,000–$9,000 upfront plus ongoing utilities, renter’s insurance, and living expenses.
Is it cheaper to rent in Woodland Hills vs Downtown LA?
Yes. Woodland Hills and Warner Center offer more affordable rents than Downtown or Santa Monica
