Thinking of ditching roommates and flying solo? Here’s what to consider first.

Before you take the plunge, know this: living alone isn’t just about extra space—it comes with a hefty price tag. We’re diving into:

• How much more you’ll need to budget
• How living solo stacks up against sharing
• How to know if you're financially ready
• Cities where solo living is possible—or practically impossible

Ready to see if you’re financially set to go solo? Let’s break it down.

How Much Extra Does Living Alone Really Cost?

For Gen Z, the dream of living alone is slipping further into the future. Renting solo, buying a home, or owning property often feels out of reach until their mid-30s.

A Gen Z Reddit user vented:

“I did everything right—went to community college, saved money, worked two jobs—but I’m still stuck living at home, barely able to cover the essentials, let alone think about moving out.”

To shine a light on what it really costs to live alone, we surveyed our iROOMit community. We compared budgets of users who live solo versus those seeking roommates—and the results were telling.

In New York City, for instance, the average budget for solo renters is around $2,020, while those looking for roommates aim for about $1,518. Similar trends appear across other major U.S. cities:

Moving from shared living to living alone usually means a 30–40% budget increase.

This jump includes rent, utilities, and daily living costs like groceries. When you live solo, you’re on the hook for everything. A report from the National Apartment Association found that utilities and housing-related expenses can rise by 20–30% when you’re not splitting costs.

If you’ve landed a promotion or cut unnecessary expenses, you might be ready to make the leap.

Rule of Thumb:

Make sure your income can handle a 30–40% increase over your current shared-living expenses before moving out on your own.

Signs You’re Financially Ready to Live Alone

According to Abid Salahi, finance expert and co-founder of FinlyWealth, here’s how to know you’re ready:

✅ Your Rent’s Covered—And Then Some

Keep your rent below 30% of your total income, or 35% max if you're in a pricey city. Go beyond that, and you risk paycheck-to-paycheck living.

✅ Utilities Won’t Wreck Your Budget

Expect an extra $300–$600/month for essentials like energy, internet, and water—unless your landlord includes them. Research local rates before you move.

✅ You Can Furnish Without Going Broke

Furnishing from scratch? Experts estimate $3,000–$5,000+ for basics (bed, couch, table, etc.). Make sure you can afford this without draining your emergency fund.

✅ You Can Handle Rising Costs

Can your income keep pace with inflation? Groceries, rent, and general living expenses aren’t going down anytime soon.

✅ You’ve Got Job Stability

Strong career trajectory = more financial flexibility. You’ll need a steady income for long-term solo leases and costs.

Cities Where You’ll Probably Need a Roommate

In high-rent cities, roommate living is the norm. And in some places, sharing a 3-bedroom saves more than a 2-bedroom! For example:

New York City

1-bedroom average: $4,457 3-bedroom average: $7,463 Split three ways = nearly $2,000 in savings

Roommates here are a financial necessity unless you're rolling in cash—or lucky enough to find a rent-stabilized gem.

San Francisco

1-bedroom: $2,872 3-bedroom: $5,347

Sharing can save thousands—and thanks to California’s quirky housing codes, bonus rooms sometimes get rented at a discount.

San Diego

Roommates save about $1,000/month. Around 42% of adults live in double-up households here. Not surprising when solo living spikes your budget by 37%.

Los Angeles

3-bedroom average: $5,620 1-bedroom: $2,482

Going solo requires a 25% budget increase, according to iROOMit data.

Miami

1-bedroom average: $2,876 3-bedroom: Save about $1,000/month by sharing.

High demand and rising prices make roommate living practically essential.

Cities Where You Might Afford to Live Alone

In some U.S. cities, the financial gap between living alone and with roommates is small—making solo life more realistic.

✅ Houston

1-bedroom: $1,361 3-bedroom: $2,482

Sharing saves about $500—but with low rents overall, solo living is within reach.

✅ Austin

1-bedroom: $1,648 3-bedroom: $2,985 Roommate savings: About $653.

Solo living budgets are just 18% higher, and rent prices have recently dropped by $250 on average.

✅ Phoenix

Savings from roommates? Just about $4,000/year—not enough to sacrifice your space and peace.

✅ Dallas

Roommate savings range from $100–$400/month. With only a 16% budget difference, living alone could be worth it.

✅ Atlanta

1-bedroom: $1,515 3-bedroom: $2,521

Solo living only raises your budget by about 4%, and one-bedrooms are much easier to find.

The 30–40% Rule: Plan Your Move

If you can stretch your budget by 30–40%—through a raise or cutting expenses—you may be ready for solo living. But your city’s rent matters.

• In high-cost cities like SF, NYC, or LA, sharing can save 20–50%
• In affordable markets like Phoenix or Austin, solo living might be the smarter choice

💡 If your housing budget is under $1,200/month, roommates are usually the better financial move.

Bottom Line

Living solo might be the dream, but in 2025, it’s not always realistic—especially in cities with soaring rent. Whether you choose to go solo or stick with roommates, the key is to budget wisely and know your numbers.

If you’re leaning toward shared living, iROOMit makes it easy to find like-minded roommates in your area.

Ready to start your search? Download iROOMit app and find your perfect match today.