How to Budget for an Apartment

living room apartment

It’s easy to fall in love with Saratoga Springs. The city has charm, exciting things to do and see, and great shopping, dining, and entertainment options that make it a fantastic place to live. The city has a lot going for it, including beautiful nature scenes located just a short trip from the city center.

When searching for an apartment in Saratoga Springs, it’s important to consider a few questions. How much will you pay each month? How much can you afford?

Creating an apartment budget is essential if you want to set yourself up for success and ease the transition of moving to a new apartment in Saratoga Springs. Budgeting for an apartment can be tricky but following these few steps should make it much easier!

5 Tips for Budgeting for an Apartment

1: Do Your Research

The first step in budgeting for an apartment is to do your research. Some sites will provide you with an idea about average rents for various locations by county or zip code and other helpful information, so spend some time looking at these resources before deciding where to live.

Having a general idea of the average rent in your desired location will help you determine how much you can expect to pay each month. Doing so helps ensure that you have the funds available to make a move when you’re ready, and it will help you manage your expenses once you’ve settled into your new place.

2: Make a Budget and Stick to It

Renting an apartment can be expensive, so before you sign a lease, you need to understand your rental costs in addition to other expenses—including food, transportation, utilities, and lifestyle essentials.

To determine the percentage of your income that you should put towards rent, consider listing your monthly expenses from the most expensive to the least costly and calculate how much of your income goes towards each expense. This simple calculation will help ensure you don’t spend more than you can afford on rent.

3: Get Creative with Your Living Situation

If you’re looking for ways to save on rent, consider getting creative with your living situation. You can share a home or apartment with roommates or a family member, move into a smaller place, take advantage of promotions, or find an apartment with shared spaces.

Living with someone else can help to offset the costs of rent and may also allow you to afford a larger space with more square footage at a lower cost.

4: Prepare for Moving Costs

Personal purchases like furniture, decorating, and moving fees are common cost factors that can become difficult to forecast. In addition to your first month’s rent, your new apartment may also require a pet-deposit if you bring your pet with you.

If you are planning to move to a new apartment, try to save at least three months’ worth of rent first. This can help you anticipate costs you may not have anticipated and have the flexibility to adapt if you are surprised by any additional expenses.

5: Save Up Ahead of Time

Starting to save money early on can make it easier to pay a security deposit and settle into your new home. The sooner you begin saving, the more ready you will be financially when signing a lease. As mentioned above, you may want to save a few months of rent to keep on hand in case of emergencies.

Now that You Know How to Budget, Enjoy Living in Luxury

Budgeting for an apartment can be overwhelming, but it doesn’t have to be! With the tips above, you’ll know how to budget for an apartment in no time. You’ll also better understand what you need to look for when searching for an apartment that fits your budget.

If you’re looking to move into one of the most exciting neighborhoods in the New York Capital Region, consider checking out Saratoga Market Center. Our luxury apartments have everything you could want, such as an on-site fitness center, attached parking, in-unit laundry, and much more.


And best of all? It’s located above some of the most exciting downtown shopping and dining areas. We have 1, 2, and 3-bedroom options available, so whether you’re looking for a studio or a larger-sized home with plenty of room, we’ve got something for everyone. View our floor plans or schedule a tour today to learn more about what we have available!




  • Lovely quiet apartments in a superb location in beautiful downtown Saratoga Springs. Great neighbors, walk to grocery, shopping and movies, museums and the beautiful Congress Park! A very happy place to live!

    Randi R.

  • Moved in over the summer and it has been the best location/place to live in Saratoga! Maintenance staff and Evelyn in management are super friendly and thoughtful to the residents, always timely in responses to requests as well! Hands down #1 spot to live in Saratoga! Beautiful apartments and the perfect distance from Broadway, SPAC, the racetrack, and everything that Saratoga has to offer!

    Jessica G.

  • Great place to live. Convenient, safe, and quiet. 2-minute walk to all of the great bars and restaurants on both Broadway and Caroline

    Bryce A.