How much money do you need to move out?

Living with your parents can have its perks: home cooked meals, childhood memories…and free rent. So, it’s not surprising that 15% of adults live with their parents, according to a 2025 survey by the Federal Reserve Board.

At some point, though, you may want to get your own place. (Your parents may not mind the extra space, either.)

As you get ready to live on your own, it’s helpful to know how much money you’ll need to cover different living expenses. You may also want to consider whether moving out will make you ask your parents for help—even if you’re no longer under their roof. A Pew Research Center study from 2024 found that 44% of adults aged 18 to 34 received financial help from their parents during the previous 12 months.

How much money do you need to move out? Lindsay Dell Cook, president and founder of a company providing personal financial education and coaching services, shared her suggestions on how to fill in the gaps as you determine how much moving out will cost.

Even if you think you know how to live on your own, you’re probably still wondering, how much money do I need to move out?

Everyone will have a unique answer, according to Cook, because the cost of rent, your lifestyle and other factors can be very different from person to person. While the exact numbers will be specific to the person, there is a way to figure out how to live on your own while still being financially secure.

The key, Cook says, is to estimate everything from your moving costs to the monthly expenses you’ll have once you’re living on your own. You’ll also want to keep your long-term savings goals in mind.

Below, Cook walks through each of the major expenses to account for in your moving-out budget before you actually make the move.

Each category is paired with cost averages that can serve as a starting point for you to determine how much money you may need to move out.

• Rent

• Moving

• Utilities

• Home decor

• Food and dining

• General spending

• Healthcare

• Emergency fund

• Saving, paying down debt and other financial goals

Open a spreadsheet, use your favorite budgeting app, or grab a pen and paper and start building your budget for your big move. By including the categories below, you should be able to create your moving-out budget and determine how much you can afford in rent.

As you ask yourself the question, “How much money do you need to move out?” your biggest expense will almost certainly be paying rent. Rents can vary from a few hundred dollars to thousands a month, depending on where you choose to live and whether you have roommates to help keep costs down. If you’re living with others, be sure you know how to split living costs with your roommates.

Tip: Check your credit score before you start looking for apartments. If there’s a blemish or an error on it, you’ll want time to improve it before a potential rental agency or property owner runs your credit report. Generally speaking, anything between 690 and 719 is considered a “good” credit score, per NerdWallet.

While paying rent is the first thing you might consider before moving out, Cook recommends that it be the last item you add to your moving-out budget. That’s because the amount you can afford in rent will depend on what money you have left after subtracting the other living expenses covered below from your after-tax income.

Remember: Once you sign a lease, you’re responsible for that monthly rent payment until the lease ends. It’s important to make sure that your budget can handle paying this amount regularly, and that an annual increase in rent is not going to send you back to your parents’ home.

Remember that simply multiplying your monthly rent by the number of months on your lease won’t give you the whole picture of how much money you need to move out. You’ll also need to account for a potential security deposit, move-in fees and pet fees to be fully prepared.

If you don’t yet know where you’ll live, Cook recommends saving one and a half month’s rent for your security deposit and/or move-in fees. Note that if you pay a security deposit, you should get it back after your lease is up if there’s no major damage.

Sometimes, landlords ask for a move-in fee instead of (or less commonly, in addition to) a security deposit. A move-in fee can cost several hundred dollars, and it’s a one-time expense that is not refunded, Cook notes.

If you have a pet, many landlords will ask for a pet deposit as well, which Cook says can run as high as $500. “The pet deposit can actually be more significant than you would imagine,” she explains.

You may be able to talk down the price of a pet deposit with your landlord, which could help lower costs in your moving-out budget.

Cook says clients tend to underestimate how much it costs to move out of their parents’ place and into their new home. There are several factors to consider, including whether you hire movers or handle the move yourself and whether you’re relocating nearby or across the country. Depending on these details, moving costs can range from $300 to $3,000 or more.

If it’s a local move that you’re handling on your own with friends, you’ll probably be renting something to haul your stuff in. In 2026, a moving truck rental typically runs about $20 to $130 per day plus roughly $0.70 to $2 per mile for local moves, according to HomeGuide, while one-way long-distance rentals usually range from around $1,500 to $3,500 for a multi-day trip, depending on the distance and truck size.

If you’re hiring professional movers, Cook suggests reaching out well before you’re ready to pack your boxes. “Just because you’re not ready to move doesn’t mean that you can’t reach out and get a pulse on how much things might cost,” she says. A moving-out budget that includes all the costs related to your move can take the guesswork out of how much you’ll need to save.

Cook warns that a moving truck, packing materials and professional movers can add up. “Whatever you think it will be, add at least $200 to that,” she says.

Gas, electricity, water, internet, phone—what would we do without them? You’ll need to make sure you have enough money in your moving-out budget to cover your bills and avoid any unpleasant surprises (like a cold shower).

When you’re touring new places to live, Cook recommends asking the landlord or others that currently live there about average monthly utility costs. Make sure you understand which—if any—utilities are included in your rent. Sometimes, she says, you can ask for your landlord to cover utilities if they’re really in need of tenants.

When Cook’s clients move into their first homes, they sometimes reuse old furniture from their parents’ house or from others in their family. “There’s no shame in the hand-me-down game,” she says.

Some items might seem obvious in your moving-out budget—like a desk if you’re planning a home office—but it’s the little things that often get forgotten until you need them, Cook warns. For example: silverware, trash cans and bath mats. Don't forget pots and pans, and dishes. It can all add up to a big, unplanned expense.

Cook encourages her clients to list as many secondhand items as possible and then list every new household item they’ll need to put in their apartment. Once they add up the expected costs, she increases the estimate by 10%. That’s because there are almost always extra little touches or needs that you’ll want to buy to make your new place your own.

Moving out of your parents’ house and learning how to live on your own comes with a lot of benefits. But one of the downsides is that you’re on the hook for all your meals. Cook says younger adults tend to underestimate how much they’ll spend on food. “Some people spend the same amount on food as they do on rent,” she says.

The most straightforward way to figure out how much you will spend on food is to track how much you are spending on food for at least a week. (If your parents treat you to a meal, ask them how much it costs so you can account for it.) When Cook works with clients to track their spending for the first time, food is the line item that raises the most eyebrows. “They’ll say, ‘I had no idea the line item for food would be so expensive,’” she says.

As you learn how to live on your own, cooking meals at home can be a good way to keep food expenses lower. But that takes some know-how in the kitchen—a life skill that can take time to develop. If you want to sharpen your skills as an at-home chef, start by watching online videos that teach cooking. You can also practice making meals at home while you’re still living with your parents.

Unless you’re getting help from your parents, you’ll be on the hook for every purchase once you move out.

Managing your discretionary spending, meaning non-essential spending, is a key part of living on your own. You can think of your discretionary expenses as wants rather than needs. For example: a new TV, movie tickets or home gym equipment. How much you have in your discretionary budget each month will depend on your monthly income and your other costs, Cook says.

Some discretionary expenses don’t happen routinely. You can, however, plan for these costs in your moving-out budget.

Cook encourages clients to look at a calendar and note the weddings, vacations and holiday spending that will need to be paid for over the next year. Add up the estimated costs for each of these big, irregular expenses and divide that sum by 12.

Each month, you can contribute a planned amount to a high interest rate savings account that’s made for these discretionary expenses. Whenever you want to book flights, buy gifts or get new clothes, you’ll have a savings account that you can dip into guilt-free. This strategy can also help keep you from stressing over money. 

If you’re wondering how to live on your own but don’t have health insurance, Cook strongly recommends that you get it. You can get health insurance through your employer, your parent or the healthcare marketplace.

“Medical expenses are one of the main reasons a person can end up in financial distress and debt,” Cook says. “Even if you’re young and healthy, it’s not a gamble worth taking.”

Even with health insurance, you may still have to pay some fees for certain visits, procedures and medications. Refer to your insurance plan to see what out-of-pocket costs you’ll need to pay and account for them in your moving-out budget.

An emergency fund is just what it sounds like: money that’s saved in case you lose your job or unexpected expenses pop up. Experts agree that, if possible, your emergency fund should cover three to six months of living expenses in case you find yourself without a steady source of income. “That would include rent, food and any other bills you have to pay, like a car payment,” Cook says.

Since an emergency fund is an important and possibly large part of your moving-out budget, you may want to start saving for this line item early. A high interest rate savings account can help give your emergency fund some momentum by helping every dollar go further.

However, don’t be discouraged if your emergency fund isn’t quite where you want it to be. If you’re ready to move out before you’ve built up your emergency fund, you can start small and keep adding to it once you live on your own. Just make sure you budget for it like any other expense.

In addition to building an emergency fund, you want to account for other financial goals in your moving-out budget, Cook says. Whether you want to pay off your student loans, save for a vacation, plan for retirement or financially prepare for grad school, you need to be good about putting that money away.

“You really want to make sure you understand your budget and ensure that your rent and other living costs are still allowing you to save,” Cook says.

So, how much money do you need to move out? Break out your calculator and add up your honest estimates of each of the above expenses to build your moving-out budget.

After doing the math, will you have enough money left over each month to save for your goals? If not, then Cook recommends looking at your financial plan again before moving out. “The bottom line is that you either need to be able to cut expenses, have a higher monthly income or some combination of the two,” Cook says.

Getting your own place is a big financial step, and having a plan can help you answer the question: How much money do you need to move out?

Keep these tips in mind as you prepare to take on your own expenses:

• Create a moving budget that accounts for upfront costs like deposits, moving supplies, furniture and transportation. 

• Factor in monthly living costs—utilities, food, healthcare and discretionary spending—not just rent, so your budget reflects what life on your own will actually cost.

• Build an emergency fund before moving out so you have savings to fall back on when unexpected expenses come up. 

• Develop strong money habits by tracking your spending, managing your income and saving regularly for future goals.

As you settle into your new place, continue building the financial habits that can help you feel more confident managing your money. Whether you’re saving for emergencies, future goals or everyday expenses, choosing the right savings strategy can help your money grow. For example, consider opening a Capital One 360 Performance Savings account, which offers one of the best savings rates in America.