10 Ways to Save Money on Rent Payments

Paying rent was once the springboard to home ownership for many Americans, a way to save money to buy a place of your own. In recent years, though, the skyrocketing cost of renting means many Americans are struggling simply to pay their monthly bills, forget about saving to buy a house.

Nearly half of the 42.5 million renters in the U.S. are considered cost-burdened—they spend more than 30% of their income on housing costs. That means much less money is available to pay bills or get out of debt.

It may seem like a never-ending spiral, but there are ways to save money on rent. Finding one or more that works will give you a foothold on improving your finances overall.

Why Is Rent So Expensive?

Costs are determined by supply and demand. The scarcer something is and the more in demand it is, the more expensive it’s likely to be. Rental costs are a great example of this.

U.S. production of housing, both single-family homes and multi-family – the kind you’re most likely to find an apartment in – has plummeted since the housing crisis of 2008. That means there are fewer apartments to go around. The situation is made worse by lack of inventory for single-family homes and lower mortgage affordability, so people who would traditionally move on from an apartment to buying a home can’t find one they can afford.

Zoning restrictions, regulations regarding property ownership and landlord responsibilities all also play a role in driving up rents.

In 2023, the “real median gross cost of renting,” which is rent plus the average monthly cost of utilities, increased more than it had annually since 2011. In 2024, the increase rate slowed, but that doesn’t mean rents went down, it just means they stopped rising so fast.

The median rent in the U.S. in 2025 for a studio apartment was $1,384. Median means half of renters paid more, half less. Depending on where you live, a small apartment like that may even cost more.

How to Save on Rent

There are several ways to save money on rent, but the one that’s best for you depends on your personal situation, your individual finances and your financial goals. If your strategy to save on rent involves moving or increasing the number of people in your space, be sure to check your lease to make sure the changes won’t cost you money or get you evicted.

Here are 10 tips to help get you started.

1. Get a Roommate

If you have spare room, find a roommate and split what you’re paying for rent and expenses like utilities in half. If you live in a studio or one-bedroom, with no room for another person, consider moving and becoming a roommate, or find a friend to go in on a two-bedroom apartment with you. Platforms like Craigslist, Roomster, Roomi and SpareRoom can help you find a roommate, or become one. Before moving out, make sure breaking your lease won’t be too big of a financial hit. If you’re getting a roommate, make sure you’re not violating any lease provisions. Also, if you move, make sure that what you’ll be paying for rent on a larger apartment, even with a roommate, isn’t more than what you’re paying for your small one.

2. Rent Out an Extra Room for Short-Term Rentals

If you rent a house, or an apartment with extra space, using an extra bedroom in your home or apartment as a short-term rental can save you money on monthly rent. This is an especially good option If you live in a popular vacation area, or one that doesn’t have a lot of hotel options. Post on sites like Airbnb that let users advertise open rooms for short-term rentals, with stays typically lasting a few days or weeks. Make sure that short-term rental use is not prohibited in your lease, and also check community regulations on short-term rentals, before you take any action. Review all the rules and best practices for short-term rentals as well, so it doesn’t become something that costs you more than you earn.

3. Consider Renting From a Private Landlord

If you’re in an apartment complex owned by a property company, consider moving to an apartment owned by an individual or family. Private rentals comprise a variety of spaces – houses, apartments, guest houses, and accessory dwelling units (ADU). Private landlords may be more flexible on fees and deposits and don’t have strict corporate guidelines to adhere to, so may be willing to negotiate rent or be more lenient on qualifications.

Many will do background and credit history checks, so be upfront about your situation and expectations.

4. Negotiate When You Renew a Lease

It often costs landlords money to bring in a new tenant, and they want to keep good tenants, which may give you leverage to negotiate a better deal when your lease expires. Research rents in your area and make a reasonable offer. If you’ve been a good tenant and the landlord doesn’t want to lose you, you may be able to avoid a rent increase or even lower your rent.

Offer to make your own repairs, or do work around the apartment complex for a lower rent.

To be successful, make sure you understand the ownership situation. A private landlord has more flexibility than a property management company.

5. Sign an Extended Lease

Landlords want stability. You can give it to them by signing a year-and-a-half or two years’ lease instead of six months or a year. The longer the lease, the lower rent the overall rent may be. Be sure you read the lease carefully and understand penalties for breaking it if you move out early.

6. Give Up Your Parking Space

If you don’t have a car, you don’t need a parking space. Offer to give it up in exchange for discounted rent. The landlord may be able to give the space to another tenant, who might need extra parking and be willing to pay a higher rent for it.

7. Take Advantage of Referral Fees

Some landlords, usually at larger apartment complexes, will offer money in exchange for referring a new tenant. A private lender with one or two properties probably won’t offer you much or anything for a referral, but it never hurts to ask. This is usually a one-time payment, so be sure you use it to lower your rent or pay utilities, or it won’t save you money on your rent.

8. Consider a New Location

If you can work anywhere, consider moving to a part of the country with lower rents.

Median rents vary widely across the country. In New York City, the one-bedroom median was $2,309 in 2025, in San Francisco, $3,465. In Toledo, Ohio, it was $913; in Tucson, Arizona, $1,158. Median means half paid a higher rent, half lower. A median number isn’t the whole story, though. In a large city like New York, subsidized and rent-controlled apartment rents are much lower than what someone moving there would likely pay.

In smaller cities in rural states, low inventory and demand also can mean high rents. In Portland, Maine, median rent for a one-bedroom unit is a relatively high $1,563. Farther north, in rural Penobscot County, median is $880, but there are other costs. There’s no public transportation, so a reliable vehicle is necessary to get to far-flung stores and services. Heating costs are high and often not included with rent.

If you’re considering saving money on rent by moving to a new location, research locations thoroughly, including what the apartments and area are like, and hidden costs that go beyond median rent.

9. Look for Apartments in the Winter

Rents increase in summer in many locations. Some of that has to do with the fact people are more likely to move when it’s not cold and snowing. But it also has a lot to do with the school schedule. College and high school graduates are looking for apartments, and families with children in elementary school wait for the school year to end before they move. Consequently, demand is up, which means higher rents. If you secure an apartment in the winter, sign a lease that ends in summer to ensure that when you move out, the apartment hits the market at a good time for the landlord. They may be willing to work with you on a lower rent for the tradeoff.

10. Pay Upfront

Offer to pay upfront for the entire lease, or at least a few months, for a discount. The landlord may be willing to make a deal to have cash in hand. It’s only an option if you have enough money to cover the cost, with enough left over to pay your bills and expenses. You don’t want to rack up credit card debt because you emptied your bank account to save a few dollars on rent, losing any savings to credit card interest. If you do pay up front, make sure you pay the money back into your savings each month.

Bonus Tip: Look for Overcharges in Your Lease

Your state may have requirements regarding what your landlord must provide. Consequently, it’s possible you’re being charged, or paying out of pocket, for things you shouldn’t be. For instance, many states have rules about how much a landlord can charge for common area utilities, like a laundry room. They must offer a rent reduction if tenants are paying the costs for common-area utilities. If your lease specifies air-conditioning is provided, the landlord is required to make sure it works. If you’re paying to replace or fix an air-conditioner, check to see if it’s actually the landlord who should be.  Take a look at what you pay for out of pocket, or in fees, then research your state’s laws about what landlords are required to cover or reduce rent for.

Other Ways to Save on Housing Costs

If you can’t find a way to save money on your rent, consider other ways to trim your monthly expenses and save money.

1. Save Money on Utilities

Americans spend an average of $594 a month ($71,28 a year) on utilities like electricity, water, natural gas, sewer, rubbish disposal, cellphone service and internet. If you’re renting, a lot of that may be beyond your control, but you can still try to save money on utilities where you can. If you pay separately for electricity or heating, which can be half of utility costs, adjust the thermostat and even turn off the AC. Turn off and unplug appliances, chargers and other electricity-sappers when not in use. If you have an in-unit washer and dryer, your dryer uses a lot of electricity. Air-drying your clothes, even indoors, can help. Ask your landlord to replace older appliances with energy-efficient models, or offer to do it yourself for a break in the rent (you can get a tax credit on some). Ask your landlord to fix drafty windows or doors. If you pay for recycling or rubbish removal, find ways to reduce your waste. Talk to your landlord about any changes that will help.

2. Research and Switch to Cheaper Providers

If you have control over your apartment’s cable provider, consider switching to a less expensive one, or downgrading your plan. If your choices are few, try negotiating with your provider for a lower rate. Also review what you pay for internet and security systems, if they’re something you have control over. Don’t settle for the initial offer or assume you’re already on the most cost-efficient plan. If you have renter’s insurance, review your police and see if there are ways to cut costs. Find a cheaper cellphone plan, one service that your landlord definitely doesn’t control. Take time to research providers for all of your services, and determine which you can update to save money.

3. Cut Out Cable

If you pay for cable service, rather than it being provided as part of your rent, it’s time to cut the cord. More than half of Americans no longer pay for cable TV, but stream their content instead. Streaming allows you to choose what you want to pay for, and how much you’ll pay. Streaming services that provide local news and other traditional cable choices, like Hulu Live, YouTube and Sling, range in price from $50 a month to $90. Other services that don’t offer live and local content, but do offer movies, TV shows and sports, like Netflix, Amazon Prime, Hulu, Max, and many more, are less than $10 a month to $20 or more. Unlike cable, almost all streaming services don’t require a contract. You can pause or eliminate a service whenever you want, and save money.

4. Cook at Home

It’s easy with DoorDash, Uber Eats, GrubHub and other food delivery services to have hot meals delivered right to your door, especially at the end of a long working day. It’s also easy to run up credit cards or bust your budget doing it. Online delivery is projected to generate $429 billion for the industry in 2025. That’s money you’re paying for the fee, tip and takeout. DoorDash, for instance, charges 15% of the meal cost, with a $3 minimum, add the tip the delivery person and the extra cost of a takeout meal, and that’s much more than you’d pay for something you make at home. If you’re ordering out several times a week, it adds up.

If you can’t cook or prepare a meal every night (few can or want to), prepare a meals in advance when you have some time, something easy like chili and casseroles, and freeze meal-sized portions. Shop the prepared meal section at the supermarket. Portions are often big enough to get two meals out of. Get a slow-cooker and start a meal in the morning that’ll be ready at dinner time. Follow a meal prep routine, which can save money as well as time and energy spent on cooking.

If you live in a household with others, share cooking duties. Even kids can learn to prepare a simple supper, and they may enjoy the challenge. While it’s easier to tap an app for food, the cost savings are worth putting the phone down.

5. Don’t Use Credit Cards for Rent

You may be tempted to pay rent with a credit card so you can cash in on mileage rewards or cash back, but you’re losing money by paying revolving interest if you don’t pay the card balance monthly. And if you do, why not just pay your rent directly instead of using the card? Increasing your balance by the amount of your rent every month and overloading your credit card not only costs you a lot of money in interest, but higher credit card balances will lower your credit score.

6. Create a Monthly Budget

Sometimes all it takes to find ways to save money on rent or other costs is to review your income and expenses. Create a budget by writing down your monthly income, figuring out what bills you must pay every month (rent, utilities, insurance, etc.), and how much you have left over. It’s easy with digital banking to see where you’re spending money. Print out your debit and credit card statements and highlight expenses that weren’t necessary. See where you can make changes. A budget doesn’t have to be complicated, it’s basically an ongoing review of what money you have coming in, what is going on, and how you can adjust it.

7. Get Credit Counseling Help

Your financial and personal situation will play a part in how to save money on rent. Some of the suggestions here may not be possible, or won’t work for your situation. Go over your budget and expenses, and think about your options, and figure out what works for you.

If you feel overwhelmed by bills and can’t see a solution, call a nonprofit credit counseling agency. They will review your budget, free of charge, and give help you find resources and solutions to debt issues.

Additional Money-Saving Resources

We’ve looked at how to save money on rent, including big changes like moving, as well as smaller ones, like fine-tuning your lease. We’ve also looked at tips to save money in other ways, on utilities, cable, food expenses and by budgeting.

It may also help you to dive deeper into ways to save money on rent and in other ways.

There are many resources available that can help you save money, depending on your situation. For further information, check out:

• How to Stop an Eviction
• What to Do When You Can’t Afford Rent
• How to Find Out How Much Debt You Have
• How To Save Money on Food at Restaurants and the Grocery Store
• Budgeting for Couples: Tips to Budget as a Team