Compare Apartment and House Costs in Altamonte Springs, FL

By Maya Alston |
Altamonte Springs, FL: Apartment vs House – Part of our Altamonte Springs, FL Relocation Series
A residential street in Altamonte Springs lined with modest houses, palm trees, and parked cars.
Many families choose to buy houses in Altamonte Springs for the extra space, privacy, and long-term investment potential.

Renting vs. Owning in Altamonte Springs: What You’ll Pay

When deciding between renting an apartment or buying a house in Altamonte Springs, it’s important to understand the cost differences. Here’s a quick checklist of the pros and cons of each option from a financial perspective:

  • Apartments
    • ✅ Lower upfront costs (security deposit vs. down payment)
    • ✅ Fewer maintenance responsibilities
    • ❌ Lack of equity building
    • ❌ Potential for rent increases
  • Houses
    • ✅ Builds equity over time
    • ✅ More control over living space
    • ❌ Higher upfront costs (down payment, closing costs)
    • ❌ Responsible for all maintenance and repairs

In terms of monthly costs, renting a 2BR apartment in Altamonte Springs typically runs around $1,800/month, while a 3BR house may cost $2,450/month. The average rent for a 3BR house in Altamonte Springs is $2,450/month. However, the cost of renting a house has increased by about 6% over the last year. More affordable options can often be found in neighborhoods like Spring Oaks and Oak Harbour.

Table: Cost Comparison – Apartment vs House

Here’s a side-by-side breakdown of common monthly costs in Altamonte Springs:

Expense2BR Apartment3BR House
Rent/Mortgage*$1,800$2,450
Utilities$180$320
Internet$65$75
Insurance$20 (renters)$120 (homeowners)
Maintenance$0$250
HOA$0$150
Total$2,065$3,365

*Based on a 30-year fixed mortgage with 20% down. Estimates are for mid-range units with typical usage.

Utility and Upkeep Differences

In addition to the base rent or mortgage, there are several other costs to factor in when comparing apartments and houses in Altamonte Springs:

  • Water/Sewer: Houses tend to have higher water bills, as they often have more bathrooms and outdoor watering needs. Expect to pay around $80/month for a house vs. $40/month for an apartment.
  • Electricity: Cooling costs can add up quickly in the Florida heat. Houses typically have higher electricity bills due to more square footage. Budget $200/month for a house compared to $120/month for an apartment.
  • Lawn Care: Most houses in Altamonte Springs have lawns that need regular mowing and upkeep. This can cost $100-$200/month if you hire a service. Apartments have no lawn care costs for tenants.
  • Pest Control: Subtropical climates come with bugs. Many homeowners opt for quarterly pest treatments at around $100-$300/year. Some apartments include pest control.

Lifestyle Tradeoffs

Of course, housing costs are only part of the equation. There are also lifestyle factors to consider when choosing between an apartment or house in Altamonte Springs:

  • Space: Houses offer more space and storage than apartments. They also usually come with private outdoor areas.
  • Noise: Apartments tend to have more noise from neighbors, while houses provide more privacy and quiet.
  • Location: Apartments are often located in more walkable areas near dining and shopping. Houses are more likely to be in residential neighborhoods, requiring driving for most errands.
  • Pets: Many apartments charge monthly pet rent around $50/month, on top of a pet deposit. Houses give more flexibility for pet ownership.

Many Altamonte Springs residents choose apartments for the convenience and amenities, while families often prefer houses for the yard space and room to grow. Some may enjoy being in the heart of the action downtown, while others value the extra elbow room of the suburbs.

Which Is Cheaper Long Term in Altamonte Springs?

While renting is often cheaper than owning month-to-month, buying can be more cost effective long term. Let’s compare the five-year costs of renting a 2BR apartment vs. buying a 3BR house in Altamonte Springs, assuming 3% annual rent increases:

  • Renting (5 years): $124,000 total ($2,065/month x 60 months)
  • Owning (5 years): $202,000 total ($3,365/month x 60 months), but $65,000 goes toward equity in the house

So while owning costs more per month, you’ll end up with around $65,000 in equity after five years. In cities like Altamonte Springs, buying a home can be a smart investment, especially as rents continue to rise.

FAQs About Housing Costs in Altamonte Springs

How much more does a house cost than an apartment in Altamonte Springs?
On average, a 3BR house costs about $1,300 more per month than a 2BR apartment when you factor in the mortgage, utilities, insurance, and upkeep.

Do houses always have higher utility bills?

In most cases, yes. Houses are larger and have more outdoor space, resulting in higher costs for electricity, water, and sewer. Expect to pay $200-$300 more per month for utilities in a house vs. an apartment.

Are apartments still cheaper than houses even with pet fees?
Yes, apartments are typically cheaper even with pet rent factored in. The average pet fee adds $50/month. With that included, apartments still cost around $1,250 less per month than houses in Altamonte Springs.

Making the Right Housing Choice in Altamonte Springs

In summary, renting an apartment in Altamonte Springs costs around $2,065/month all-in, while owning a house runs closer to $3,365/month. Renting offers flexibility and lower upfront costs, but owning builds equity and offers more control over your living space.

Ultimately, the right choice depends on your budget, lifestyle, and long-term goals. Be sure to consider all the costs and tradeoffs before making a decision. For more info, check out these related articles:

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