The first challenge you’re likely to face when aging out of foster care is where you will live. In fact, without stable housing, 25% of aging out foster will immediately become homeless; while 60% will experience homelessness before the age of 24.
When searching for housing you’ll learn that most rental properties and apartments require you to have an established rental history and a decent credit score. Many property managers also charge an application fee. If your rental application is approved, you’ll pay the first month’s rent, last month’s rent, and security deposit upfront to move-in. Unless utilities are included, you’ll also pay deposits to activate power and water service. Finally, you’ll want to furnish your new home and stock up on essential household items. These move-in costs can quickly add up to $4,000 or more. Your reoccurring costs, including meals, can total $1,000 or more each month. It’s easy to see now that independent living has a lot of hoops to jump through and comes with a hefty price tag.