Renting vs. Owning in Anaheim: What You’ll Pay
When deciding between renting an apartment or buying a house in Anaheim, the cost of living is a key factor. On average, the monthly rent for a 2-bedroom apartment in Anaheim is around $2,200, while the rent for a 3-bedroom house is significantly higher at roughly $3,000 per month. The average rent for a 3BR house in Anaheim is $3,000/month, which is nearly 36% more than a comparable apartment.
Of course, these figures only account for the base rent or mortgage payment. To get a clearer picture of the true cost of living in an apartment vs house in Anaheim, we need to consider additional expenses like utilities, maintenance, and insurance. Let’s break down some common monthly costs side-by-side.
Table: Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Anaheim:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $2,200 | $3,000 |
| Utilities (Electric, Gas, Water) | $150 | $250 |
| Internet | $60 | $60 |
| Renter’s/Homeowner’s Insurance | $15 | $80 |
| Maintenance & Repairs | $0* | $150 |
| HOA Fees | $0 | $250 |
| Total Monthly Cost | $2,425 | $3,790 |
*Typically covered by landlord. Estimates are for mid-range units with typical usage.
As the table shows, the total monthly cost of living in a 3BR house in Anaheim is around $3,790, which is a substantial $1,365 more than renting a 2BR apartment. While the extra space of a house is appealing, it’s important to weigh that against the added expenses, which can strain many household budgets.
Utility and Upkeep Differences
In addition to higher base rents, houses in Anaheim tend to have greater utility and maintenance costs compared to apartments:
- Larger floor plans mean higher electricity and gas bills for heating, cooling, and lighting
- Maintaining a yard requires water, landscaping, and time
- Older homes may have less efficient appliances and HVAC systems
- Homeowners are solely responsible for repairs, from leaky faucets to roof damage
Apartments, on the other hand, often have smaller, more efficient layouts that are cheaper to heat and cool. Many newer complexes even include utilities like water, trash, and internet in the monthly rent. And when something breaks, tenants can simply call the landlord or property manager to handle repairs at no extra cost.
Lifestyle Tradeoffs
Of course, choosing between an apartment and a house in Anaheim is about more than just the monthly cost. There are significant lifestyle factors to consider as well:
Apartments offer greater flexibility for those who may need to relocate for work or personal reasons. They also tend to be located in more walkable areas, close to dining, shopping, and entertainment. However, living in close quarters with neighbors means less privacy and potentially more noise. Many Anaheim residents choose apartments for walkability, while families prefer houses for yard space.
Houses, on the other hand, provide more room to spread out, making them ideal for families or those who work from home. Having a private yard is great for kids, pets, and hosting gatherings. The tradeoff is that houses often mean longer commutes and more time spent on upkeep like mowing the lawn or cleaning the gutters.
Which Is Cheaper Long Term in Anaheim?
While renting is generally cheaper than owning on a monthly basis, many argue that buying a house is a better long-term investment. To see if that holds true in Anaheim, let’s simulate the cost of each option over a 5-year period, assuming a 2% annual increase in rents and 3% for home values:
Renting a 2BR apartment would cost approximately $142,000 over 5 years, including renter’s insurance but excluding any security deposits. Owning a 3BR house, factoring in mortgage payments, property taxes, insurance, maintenance, and HOA fees, would cost around $235,000 over the same period – nearly $100,000 more.
However, assuming a modest 3% annual appreciation rate, the house would accrue around $60,000 in equity over those 5 years. So while owning is more expensive in terms of actual cash spent, some of that money comes back in the form of equity. Of course, this doesn’t account for the opportunity cost of investing that extra money elsewhere.
FAQs About Housing Costs in Anaheim
How much more does a house cost per month?
On average, a 3BR house in Anaheim costs about $1,365 more per month than a 2BR apartment when you factor in rent/mortgage, utilities, insurance, maintenance, and HOA fees.
Do houses come with higher utility bills?
Yes, houses in Anaheim tend to have higher utility costs due to their larger size, yards that require watering, and often older, less efficient systems and appliances compared to apartments.
Are apartments cheaper even with pet fees?
While many Anaheim apartments charge monthly pet rent around $50 plus an upfront deposit, the overall cost of renting is still significantly cheaper than owning a house even with pet fees included.
Making the Right Housing Choice in Anaheim
As we’ve seen, the cost of living in an apartment vs house in Anaheim can differ by over $1,300 per month when you include expenses like utilities, insurance, and maintenance. For many residents, renting an apartment is the more affordable and lower-maintenance option, especially for those who value flexibility and convenience.
However, houses offer more space, privacy, and control, which appeals to families and those with pets. And while more expensive month-to-month, owning does provide the opportunity to build equity over time. Ultimately, the right choice depends on your unique budget, lifestyle preferences, and long-term financial goals.
For more info and tools for managing finances in Anaheim, check out these resources: