Apartment vs. House in St Cloud: Which Costs More?

When deciding whether to rent an apartment or buy a house in St Cloud, it’s important to consider the full cost of living in each option. Here’s a quick checklist of the pros and cons:

• Apartments
  • ✅ Lower upfront costs
  • ✅ Fewer maintenance responsibilities
  • ❌ Limited space and privacy
  • ❌ Potential for rent increases
• Houses
  • ✅ More space and privacy
  • ✅ Freedom to customize and renovate
  • ❌ Higher upfront costs
  • ❌ Responsible for all maintenance and repairs

Let’s take a closer look at the cost of living in an apartment vs house in St Cloud to help you make an informed decision.

Renting vs. Owning in St Cloud: What You’ll Pay

In general, renting an apartment in St Cloud is more affordable on a monthly basis compared to owning a house. Renting a 2BR apartment typically costs around $1,500/month, while a 3BR house may have a mortgage payment of $2,000/month or more.

The average rent for a 3BR house in St Cloud is $2,450/month. However, the cost of renting a house can vary significantly depending on the neighborhood, age of the home, and included amenities. For example, renting a newer 3BR in the desirable Narcoossee area may cost over $3,000/month.

The cost of renting a 3BR house in St Cloud has increased by about 8% over the last year. More affordable options can often be found in the Hickory Tree and Canoe Creek areas, where rent for a 3BR may be closer to $2,000/month.

Table: Cost Comparison – Apartment vs House

Here’s a side-by-side breakdown of common monthly costs in St Cloud:

*Mortgage payment based on 10% down, 30-year fixed at 6.5% interest. Estimates are for mid-range units with typical usage.

Utility and Upkeep Differences

In addition to the base rent or mortgage payment, apartments and houses have different utility and maintenance costs to consider:

• Water/Sewer: Often included in apartment rent, but homeowners in St Cloud pay an average of $80/month.
• Electricity: Houses typically have higher electric bills due to more space to cool. Expect to pay around $150/month to power a 3BR house vs $100/month for a 2BR apartment.
• Lawn Care: Homeowners must maintain their own yard, adding $100-$200/month. Most apartments include landscaping in the rent.
• Pest Control: Houses often require quarterly pest service at $100-$300/year. Many apartments provide this for free.

The age and condition of the apartment or house will also impact maintenance costs. Older homes may have higher HVAC, plumbing and repair expenses, while newer apartments are generally lower maintenance. Be sure to budget for home improvements if you buy an older property in St Cloud.

Lifestyle Tradeoffs

Aside from costs, there are lifestyle factors to consider when choosing between an apartment or house in St Cloud. Houses provide more space and privacy, with the freedom to paint, renovate, and truly make it your own. They’re great for families who need room to spread out and want a private yard for kids and pets to play.

However, apartments can offer convenience and amenities that are harder to come by in houses. Many St Cloud apartment complexes have pools, fitness centers, and are located within walking distance of shops and restaurants downtown. Maintenance is handled by on-site staff, making them a good option for those who want to avoid the hassle and expense of repairs.

Parking is another consideration – houses generally have private driveways and garages, while apartments may have limited shared parking. And for commuters, apartments are often located closer to major highways like 192 and 417.

Which Is Cheaper Long Term in St Cloud?

While renting an apartment is typically cheaper on a monthly basis, buying a house in St Cloud could be more economical over the long run. Assuming a 2BR apartment rent of $1,500/month and 5% annual increases, you’d spend $102,000 on rent over 5 years. In contrast, if you purchased a $300,000 house with 10% down and a 30-year mortgage at 6.5% interest, you’d spend around $88,000 on mortgage payments in the first 5 years (plus taxes, insurance, and maintenance).

This doesn’t account for the equity you’d build as a homeowner, which could make buying an even better deal. However, this assumes you can afford the upfront costs of a down payment and closing costs. Be sure to review your monthly budget to understand what you can realistically afford.

FAQs About Housing Costs in St Cloud

How much more does a house cost per month?
On average, houses in St Cloud cost about $900/month more than apartments when you factor in the mortgage payment, taxes, insurance, and maintenance. However, this can vary widely depending on the size and location of each.

Do houses always have higher utility bills?
While houses typically have higher electric and water bills due to their larger size, utility costs ultimately depend on the efficiency of the home. Newer, energy-efficient houses may have lower bills than older apartments.

Are apartments still cheaper with pet fees?
Many St Cloud apartments charge pet rent from $20-$50/month, plus a $200-$500 upfront pet deposit. Even with these costs, apartments are often cheaper than houses when you factor in expenses like yard maintenance and higher utilities that come with pet ownership.

Making the Right Housing Choice in St Cloud

As this comparison shows, apartments in St Cloud are generally cheaper than houses on a monthly basis. However, houses provide more space and privacy, which may be worth the added cost for some families. It’s also important to consider the long-term financial impact, including the equity you can build as a homeowner.

Ultimately, the right choice depends on your budget, lifestyle, and future plans. Be sure to consider all the costs and tradeoffs before deciding. And if you do opt for homeownership, don’t forget to factor in property taxes and HOA fees, which can add hundreds to your monthly housing costs in St Cloud.