Grant’s direct answer
Compare the renewal percentage, current same-property market rent, new-resident specials, and the effective annual cost of competing apartments. Grant’s rough guide is that under $1,000 per year of savings usually is not enough to move solely for money; $1,000–$2,000 is a judgment call; and $2,000 or more makes moving worth serious consideration if the alternative apartment is also a good fit. Include realistic moving cost, but do not let small utility-transfer inconveniences outweigh thousands of dollars in annual savings.
Explore related apartment guides and city and neighborhood information. Rental prices, availability, office locations and incentives can change; confirm time-sensitive details before making a decision.
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Read the fuller guide
- How Should a Renter Negotiate an Apartment Lease Renewal? · Editorial source guide
- How Do Apartment Free-Rent Specials and Effective Rent Work? · Related topic
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