What is the cost of renting an apartment in the US?

The cost of renting an apartment in the U.S. can vary widely depending on the location, size, and amenities. As of 2023, the national average rent for a one-bedroom apartment is around $1,500 per month. In major cities like New York or San Francisco, prices can exceed $3,000, while in smaller towns or rural areas, rents may be significantly lower, sometimes under $1,000. Most landlords in the U.S. require a security deposit when renting an apartment. This deposit typically ranges from one month's rent to two months' rent, depending on the property and location. The deposit is intended to cover any damage or unpaid rent when you move out. Landlords are usually required to return the deposit, minus any deductions, within a specified period after you vacate the apartment. Always check the specific lease terms for details!