RENT OWN SELL
Newyork
RENT OWN SELL
Newyork
Plan your monthly budget around your utility expenses for electricity, gas, water, internet, and cable if you have recently relocated or are contemplating moving. In the United States, renters who intend to spend $240 or more per month on utilities should plan on spending around $400 a month. While homeowners should plan on spending between $400 to $600 per month.
Learn more about utility prices and budgeting while you are at it! It should be noted that utility expenses are determined by several factors, including location, climate, and energy usage. To find out how much state-to-state variation exists in utility expenses, we took a look at each state’s average utility costs to see how extensive the variability is.
Before we know how much services cost, here are a few tips to save money on your bills each every month:
Now let us go to the complete guide for evaluating the typical apartment utility costs and how much you’re likely to pay each month on average.
Besides the rent of the property, the electricity bill is the second most costly bill usually. It is observed that American uses 41% of their energy on space heating and cooling and 35% on appliances, electronics, and lighting.
Factors that generally contribute to your electric bill are the number of family members in your home. The number of appliances and devices running on electricity, and the overall size of your home.
Your air conditioner is likely to be the most electric-consuming device in your apartment. You can save up money by reducing the running time of air conditioning. And if you happen to live in cooler places, you will be spending a lot less on the electric bill.
Your building size also contributes to your monthly electric bill. Generally, it is seen that the average electric bill for 1 bedroom apartments is roughly $90 per month if you live alone. And if your property has three bedrooms and more family members, you can expect to pay an additional 45$.
Average gas bill varies significantly among different states in the USA, like the West Coast has some of the lowest prices. In states such as Oregon, Washington, California, gas bills cost you below 35$ a month.
Gas is chiefly consumed for heating your homes and cooking, but the average bill cost is different in different states because of the additional taxes the government levies on their subjects. However, if seen from a broader aspect, the average gas expense for a 1-bedroom apartment will be around $80 a month during winter.
One additional tip is to keep highly efficient gas-fueled appliances.
In gas consumption, weather plays a significant role. Winter is likely to add more dollars to the bill as the temperature falls too low. On average, a 3 bedroom apartment with a high-efficiency furnace and water heating can cost you over $100. If you have not bothered to replace average-efficient appliances, expect to pay over $120 for a 3-bedroom rental.
In this modern world, the internet is as much a basic necessity as electricity. There are plenty of internet providers in the country. The prices for the internet range from $20 in states like Arizona, Oklahoma, and Nevada to as much as $50 in Alaska or South Dakota. Another factor to upset your internet cost is the internet provider company and your subscribed plan.
In addition to it, if you wish to have a cable TV, you can couple it with the internet bill or have it separately. Combined, it is likely to cost you somewhere around $35 monthly.
Another option for cable TV is to have streaming services. With a good internet speed connection, you can drop cable bills and subscribe only for the internet.
Apart from these significant bills, there is an additional bill as well. Generally, utilities such as water, sewage, or garbage are often adjusted in the rent. Others such as water and wastewater provision might not be included.
On average, the daily water usage of a person is roughly estimated as 85 gallons. It includes the water usage in the bathtub, the toilet, washing machine, and shower, along with the water used for dishwashing, hygiene, drinking water, and outside use.
It serves your best interest to ask your landlord if the water bill is adjusted in the rent or you have to pay it separately. If it falls under your responsibility, expect to pay an average water bill of about $35 monthly.
In addition to it, an additional small fee is likely to be included added to your bill for garbage collection, ranging between $12 and $20.
Let’s run an assumption to get a rough idea of the average utility bill. Let’s assume a person named Gary. Gary runs air conditioners during the summer season but not in the winter season, has high-efficiency heating appliances run in the winter season, and lives in a 3-bedroom apartment with three roommates. He has subscribed a high-speed internet but has not coupled cable TV with it.
If you bear any resemblance with Gary, expect to pay around $400-$450 per month in total utilities for the apartment.
By now, you might be having a good idea of how much utilities cost in the USA. First, however, the clarification is required that gas and electricity bills were calculated based on average consumption, and rates, taxes, or other charges were not included. Which might be added in some cases from the service provided or local government.
In the same vein, water bills were evaluated based on fixed charges and consumption, but several local programs and taxes may add up in certain states.
The companies who collect water bills differ even in the same state over the prices, but we used the standard meters for calculating the average bill for water.
Reducing your utility bills should not be difficult. Simply replacing lightbulbs, taking shorter baths, and adjusting the temperature all add up to significant savings over time.
To maximize your savings, consider taking larger initiatives such as upgrading outdated appliances and windows and adding solar electricity. Certain stages may involve long-term investments; therefore, do the arithmetic to ensure the savings justify the investment.
Saving money on power bills is not the only way to save money. It may be advantageous to look for less expensive homes to save money on rent.
If you have further financial issues, talk to a credit counselor about lowering your monthly debt payments through a debt management plan. They can assist you in determining other areas where you may be more efficient with your savings if you are unable to pay your payments. Energy conservation is a balancing act, and every budget is unique.
It is always wise to consult your landlord or previous tenant before moving in, how much utilities cost for that particular apartment. As a renter, you may take some simple steps to begin saving energy and money, enhancing the overall comfort of your property. And reducing your carbon footprint with the given low-cost energy-saving tips to get you started on improving the efficiency of your home, as well as information on how to find energy-efficient living options.
If you require assistance or cannot perform any of the instructions independently, you must talk with your landlord. Energy-efficient improvements frequently result in cost savings for renters and landlords, making them an excellent investment for everyone.
Read Also: Average Utility Costs in New York City
