Renting vs. Owning in Antioch: What You’ll Pay
When deciding whether to rent an apartment or buy a house in Antioch, TN, the cost is often the biggest factor. On average, renting a 2BR apartment in Antioch typically costs around $1,350 per month, while a 3BR house may rent for closer to $1,950 monthly. The median rent for a 3BR house in Antioch is $1,875 per month. However, the cost of renting a house has increased by nearly 8% over the last year, with more affordable options found in neighborhoods like Lenox Village and Hickory Hollow.
For those looking to buy, the median home price in Antioch is $325,000 as of 2023. With a typical 30-year fixed mortgage at 6.7% interest and 10% down, that translates to a monthly payment of around $2,100 before taxes, insurance, and maintenance. Over 60% of new homebuyers in Antioch choose single-family houses over condos or townhomes. While buying requires a larger upfront investment, it can be more economical than renting long-term, especially considering Antioch’s rising rents.
Table: Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Antioch:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $1,350 | $2,100 |
| Utilities | $180 | $290 |
| Internet | $65 | $75 |
| Renter’s/Homeowner’s Insurance | $15 | $120 |
| Maintenance & Repairs | $0* | $210 |
| HOA Fees | $0 | $35 |
| Total | $1,610 | $2,830 |
*Typically covered by landlord. Estimates are for mid-range units with typical usage.
Utility and Upkeep Differences
In addition to the base rent or mortgage, apartments and houses have very different utility and maintenance costs. Some key differences in Antioch include:
- Water/Sewer: Often included in apartment rent but paid separately in houses, adding $50-100/month.
- Electricity: Houses use 30-50% more electricity than apartments due to more space, costing an extra $50+/month.
- Heating & Cooling: Many Antioch homes rely on heat pumps or central AC, which are more expensive to run than the individual units found in apartments. Expect to pay $40-80 more per month.
- Lawn Care: Homeowners must maintain their own yard and landscaping, adding $100+/month. Apartments include grounds maintenance.
The age and size of the unit also impact utility costs. Newer, energy-efficient apartments often have lower bills than older or larger houses. Additionally, some Antioch apartments include utilities like trash and water in the monthly rent, while houses require separate payment for all services.
Lifestyle Tradeoffs
Aside from hard costs, apartments and houses offer very different lifestyles in Antioch. Houses provide much more space and privacy, with a typical 3BR home offering 1,500+ square feet of living area compared to 1,100 sq ft in a 2BR apartment. This extra room is ideal for families, home offices, hobbies, and hosting guests.
However, apartments often boast better locations, with many complexes in walkable areas near shopping, dining and entertainment. Popular neighborhoods like Lenox Village put residents close to everyday amenities. Houses are more likely to be further out, requiring a longer commute.
Many young professionals in Antioch choose apartments for the convenience and flexibility, while families prefer houses for the yard space and room to grow. Apartments also tend to be quieter and more secure, with gated access and on-site maintenance. But houses offer the freedom to decorate, renovate, and truly make the space your own.
Which Is Cheaper Long Term in Antioch?
While renting is cheaper month-to-month, buying a home in Antioch could be the better financial choice long-term. Assuming a 2BR apartment rent of $1,350 and 5% annual increases, a renter would spend $92,000 over 5 years. In contrast, a $325,000 house with 10% down and a 30-year mortgage at 6.7% would build nearly $60,000 in equity over that same period, even after accounting for upkeep and insurance.
Plus, homeowners can deduct mortgage interest and property taxes, enjoy fixed housing payments, and see their home value appreciate. In a fast-growing city like Antioch where home prices and rents are steadily climbing, buying could be the more economical path to housing stability.
FAQs About Housing Costs in Antioch
How much more does a house cost per month?
In Antioch, a typical 3BR house costs about $1,220 more per month than a 2BR apartment when you factor in the full cost of utilities, insurance, maintenance, and taxes/HOA fees.
Do houses always have higher utility bills?
Yes, houses in Antioch usually have 30-50% higher utility costs than apartments due to the larger space, higher heating and cooling needs, and extra services like trash and sewer that are often included with apartment rent.
Are apartments still cheaper with pet rent?
Even with a typical pet rent fee of $30-50 per month, apartments in Antioch are still significantly cheaper than houses when you consider the all-in monthly costs. Owning a home adds several expenses that can dwarf pet rent.
Making the Right Housing Choice in Antioch
Ultimately, the decision between renting an apartment and buying a house in Antioch depends on your unique budget, lifestyle, and long-term goals. Apartments offer flexibility and convenience at a lower monthly cost, but houses provide more space, stability, and wealth-building potential if you plan to stay put for several years.
Be sure to consider the full picture of monthly expenses like utilities, upkeep and insurance in addition to the base rent or mortgage payment. The average total monthly expenses in Antioch are $1,610 for a 2BR apartment and $2,830 for a 3BR house, a difference of $1,220 per month or $14,640 per year. But that gap can narrow long-term as rents rise and homeowners build equity.
No matter which path you choose, it’s important to budget carefully, save for upfront costs, and pick a home that aligns with your needs and financial goals. Explore our other articles on budgeting for rent, saving for a down payment, and lowering your utility bills to make a well-informed housing choice in Antioch.