How much is a typical security deposit?
Quick Answer
Most security deposits equal one to two months rent. Some states cap deposits at one month. High-demand markets may charge first month, last month, and security deposit upfront - totaling three months of rent before moving in.
Security deposit amounts vary by state law and market conditions. Here is what to expect.
Common deposit amounts: one month's rent is the most common deposit in regulated markets. Two months rent is typical in competitive markets or for tenants with limited credit history. Some luxury buildings charge more but many states cap the amount.
State regulations: many states limit security deposits by law. Examples: California caps at 1 month for unfurnished units, Massachusetts caps at 1 month, New York caps at 1 month (since 2019), Texas has no cap, and Florida has no cap. Always check your specific state's tenant protection laws.
Total move-in costs often include more than the deposit: first month's rent (always required), security deposit (1-2 months), last month's rent (sometimes required, especially in the Northeast), pet deposit ($200-$500) or pet rent ($25-$75/month), application fee ($25-$75 per applicant), and key/fob deposits ($50-$100).
In expensive markets, the total upfront cost to move into an apartment can reach 3-4 months rent. For a $2,000/month apartment, that is $6,000-$8,000 before you even hire movers.
Tips: ask if the landlord will accept a smaller deposit in exchange for a longer lease, set up automatic rent payments to build trust for deposit negotiation, document the apartment condition with photos and video at move-in (this protects your deposit at move-out), and keep all deposit receipts and communication in writing.