Is a condo or single-family home the smarter buy in Little Elm? For many, the choice between renting an apartment or buying a house comes down to the numbers. Let’s take a closer look at the cost of living in an apartment vs a house in Little Elm to help you make an informed decision.
Renting vs. Owning in Little Elm: What You’ll Pay
On average, renting a 2-bedroom apartment in Little Elm costs around $1,800 per month, while a 3-bedroom house may run closer to $2,450 monthly. The typical rent for a 3BR single-family home in Little Elm is $2,450 per month.
Over the past year, the cost of renting a 3BR house in Little Elm has risen by about 5%. More affordable options can often be found in the Paloma Creek and Union Park neighborhoods, where rents may be 10-15% lower.
Cost Comparison: Apartment vs House in Little Elm
Here’s a side-by-side breakdown of common monthly costs in Little Elm:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage* | $1,800 | $2,450 |
| Utilities | $150 | $250 |
| Internet | $65 | $65 |
| Insurance | $25 | $150 |
| Maintenance | $0 | $200 |
| HOA | $0 | $50 |
| Total | $2,040 | $3,165 |
*Mortgage based on 10% down, 30-year fixed at 6.5% APR. Estimates are for mid-range units with typical usage.
Utility and Upkeep Differences
In addition to higher base rents, houses in Little Elm often come with steeper utility and maintenance costs compared to apartments:
- Water bills may be 50% higher due to outdoor irrigation
- Cooling a larger space drives up summer electric bills by 20-30%
- Lawn care averages $100-150 per month
- Routine home maintenance adds $200+ monthly
Apartments tend to be more compact and efficient, helping keep utility costs 30-40% lower overall. Newer apartment complexes in Little Elm often include trash service and sometimes even internet, further reducing monthly expenses.
Lifestyle Tradeoffs
Many Little Elm residents choose apartments for their convenient location and included amenities, while families frequently prefer houses for the extra space and privacy. Apartments near Little Elm’s downtown put dining and entertainment within walking distance. However, the added square footage of a single-family home is ideal for those who need room for kids, pets, and hobbies.
Parking is another consideration – apartments typically come with assigned spots or garages, while most houses include private driveways and even RV parking. And although apartment complexes often feature shared outdoor spaces and dog parks, houses offer the freedom of a private yard.
Which Is Cheaper Long Term in Little Elm?
While renting an apartment in Little Elm has a lower point of entry, buying a house can be more cost-effective in the long run. Assuming a 2% annual rent increase, a 2BR apartment would cost roughly $115,000 over a 5-year period. Meanwhile, a 3BR house with a 30-year mortgage, taxes, insurance, and upkeep totals around $190,000 over the same 5 years – but builds about $45,000 in equity.
So although a house costs 65% more per month, the forced savings of a mortgage makes it cheaper than renting when you stay long term. But for those who may relocate sooner, need extra flexibility, or want to avoid maintenance hassles, an apartment often makes more financial sense. Explore sample monthly budgets for Little Elm in 2025 to see how housing fits into your overall expenses.
FAQs About Housing Costs in Little Elm
- How much more does a house cost per month?
In Little Elm, a 3BR house costs about $1,125 (55%) more per month than a 2BR apartment when you factor in utilities, upkeep, and insurance. - Do houses come with higher utility bills?
Yes, houses in Little Elm have 20-50% higher utility costs than apartments on average, mainly due to more space to heat and cool, higher water use, and outdoor irrigation. - Are apartments cheaper even with pet fees?
Although many Little Elm apartments charge pet rent around $20-30 per month, they are still usually cheaper than houses when you consider the total cost of utilities and upkeep.
Making the Right Housing Choice in Little Elm
When deciding between an apartment or a house in Little Elm, it’s important to look beyond the sticker price. Although renting an apartment saves about $1,125 per month compared to buying a house, ownership can offer significant long-term savings. On the flip side, apartments provide short-term flexibility, predictable expenses, and less hands-on upkeep.
As you weigh your options, be sure to factor in Little Elm’s property taxes and HOA costs in 2025. Choosing the right housing ultimately comes down to your budget, lifestyle, and future plans. By running the numbers and considering your needs, you’ll be well on your way to finding the perfect Little Elm place to call home.