Having a roommate can save you up to $500 a month. Most single bedroom leases are upwards of 30% more expensive than their two-bedroom counterparts.
For example, in my old apartment complex in downtown Oakland, California, I paid $1,095 per month for a one bedroom. In the same complex, two bedrooms ran $1,450. If you factor in the division of rent, people in the two bedroom were paying $725 per month, which was 34% less expensive than my rent.
Then there’s the division of utilities, including cable, Internet and electricity.
Finding a good roommate is not easy, and living with a bad roommate can be rough. However, if you can’t afford to live on your own, or if you need some extra cash, getting a roommate is definitely an option to consider.
