
Apartment or House in Skokie? Pros and Cons
Deciding between an apartment or house in Skokie, IL? Here’s a quick checklist of the key differences:
Apartments:
- Lower monthly rent
- Included amenities like gym, pool
- Less maintenance and upkeep
- Closer to downtown, walkable
- Less space and privacy
Houses:
- More space indoors and out
- Ability to customize and renovate
- More privacy and quieter
- Higher monthly costs overall
- More maintenance and yard work
The right choice depends on your budget, lifestyle, and long-term goals. Let’s take a closer look at the cost of living in an apartment vs house in Skokie to help you decide.
Renting vs. Owning in Skokie: What You’ll Pay
In general, renting an apartment in Skokie is more affordable month-to-month than owning a house. Renting a 2BR apartment typically costs around $1,800/month, while a 3BR house may cost $2,450/month on average.
Of course, exact prices vary by neighborhood, age of the unit, and included amenities. The average rent for a 3BR house in Skokie is $2,450/month. The cost of renting a 3BR house has increased by about 4% over the last year, with more affordable options available in neighborhoods like East Prairie.
For a deeper dive into typical Skokie budgets, check out these Sample Monthly Budgets for Skokie in 2025. It breaks down average spending on housing, food, transportation and more.
Cost Comparison: Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Skokie:
Expense | 2BR Apartment | 3BR House |
---|---|---|
Rent/Mortgage | $1,800 | $2,450 |
Utilities | $120 | $250 |
Internet | $65 | $65 |
Renters/Home Insurance | $15 | $80 |
Maintenance & Repairs | $0* | $150 |
HOA Fees | $0 | $250 |
Total | $2,000 | $3,245 |
*Included in rent. Estimates are for mid-range units with typical usage.
As you can see, the total monthly cost to rent a 2BR apartment is around $2,000, while a 3BR house costs over $3,200 per month. Houses come with extra expenses like higher utilities, insurance, maintenance, and possible HOA fees.
Utility and Upkeep Differences
In addition to a higher rent or mortgage, houses in Skokie tend to have higher monthly utility and maintenance costs compared to apartments:
- Electricity and gas. Houses are larger, often with multiple floors and more exterior walls, so heating and cooling costs are higher. Many Skokie houses also have basements which can be costly to keep comfortable.
- Water. With more bathrooms, outdoor spigots, and possibly a lawn to water, houses use more water than apartments. Some Skokie homes have pools which increase water bills in the summer.
- Maintenance and repairs. As a homeowner, you’re responsible for all maintenance and repair costs like plumbing, HVAC, appliances, roof, etc. Apartments include basic upkeep in the rent. To learn more, read Understanding Property Tax & HOA Fees in Skokie, IL.
While it varies by unit, you can expect houses to cost $200-300 more per month in utilities and maintenance compared to apartments. Keep these differences in mind when comparing housing costs.
Lifestyle Tradeoffs
Aside from the financial factors, there are key lifestyle differences between Skokie apartments and houses:
Apartments offer a low-maintenance, urban lifestyle. Most are located downtown near shops, restaurants, and Oakton Community College. Units are smaller but many complexes include gyms, pools, dog parks and social events. Parking is often limited to one spot per unit.
Houses provide more space and privacy, with a yard for kids, pets, and entertaining. They’re set back from the street and often quieter than apartments. However, most are located farther from downtown in residential areas, so driving is a must. Houses also require more cleaning, yardwork, and general upkeep.
Many Skokie residents choose apartments for the walkability and included amenities, while families prefer houses for the extra bedrooms and outdoor space. Some enjoy the turnkey convenience of an apartment near the Oakton-Skokie metro stop, while others prefer the square footage and customization a house provides.
Which Is Cheaper Long Term?
While renting an apartment is cheaper month-to-month, owning a house could be more economical over a longer period. Let’s compare the 5-year cost of renting a 2BR apartment vs. owning a 3BR house, assuming 3% annual rent increases:
Year | 2BR Apartment | 3BR House |
---|---|---|
1 | $24,000 | $38,940 |
2 | $24,720 | $38,940 |
3 | $25,462 | $38,940 |
4 | $26,225 | $38,940 |
5 | $27,012 | $38,940 |
5-Year Total | $127,419 | $194,700 |
Assuming you can afford the down payment and qualify for a fixed-rate mortgage, buying a house gets relatively cheaper over time compared to renting. You’re not subject to rent hikes, and you’re building equity.
Of course, this doesn’t account for the opportunity cost of investing your down payment elsewhere. And there are substantial transaction costs with buying and selling real estate. Carefully consider your long-term plans and job stability before deciding to buy.
FAQs About Housing Costs in Skokie
How much more does a house cost per month?
In Skokie, a 3BR house costs about $1,200 more per month than a 2BR apartment when you factor in the mortgage, utilities, insurance, maintenance, and possible HOA fees.
Do houses always have higher utility bills?
Houses are larger and have more exterior exposure than apartments, so utilities like electricity, gas, and water are typically higher. Expect to pay $150-200 more per month to heat, cool, and power a house vs. an apartment.
Are apartments still cheaper even with pet rent?
Most Skokie apartments charge pet rent or one-time fees, usually $25-50 per month. However, even with pet rent, apartments are still cheaper overall than houses when you consider the total monthly costs.
Making the Right Housing Choice
Choosing between an apartment or house in Skokie comes down to your budget, lifestyle priorities, and long-term plans. Apartments offer an urban, low-maintenance lifestyle for about $2,000 per month. Houses provide more space and privacy but cost over $3,200 monthly.
Buying may be cheaper than renting long-term but consider the substantial upfront costs and your job stability. And don’t forget the extra time and money needed for maintenance, yardwork, and repairs that come with homeownership.
Whichever you choose, make sure to budget accordingly and give yourself wiggle room for unexpected housing expenses. For more cost-saving tips, read our guide on Lowering Your Utility Bills in Skokie.