When Jenna, a 28-year-old software engineer, decided it was time to put down roots in Auburn, she found herself comparing the cost of living in an apartment vs house. With a solid job and some savings, she wanted to understand the true monthly costs of each option to make a smart long-term choice in this growing Seattle suburb.
Like many in Auburn, Jenna is part of a wave of young professionals drawn to the city’s expanding tech sector and outdoor recreation. As she crunches the numbers, she’s noticing some clear financial differences between renting and owning in Auburn.
The Housing Market in Auburn Today
Auburn’s housing market in 2023 reflects its status as an appealing alternative to pricier Seattle suburbs. The city’s inventory of apartments and houses has tightened in recent years, but new housing developments are rising to meet demand, especially near the downtown core.
Auburn’s unique local characteristics are shaping its residential options. An increasing number of apartment complexes are incorporating green spaces and community amenities to cater to eco-conscious renters. Among houses, Auburn’s stock of mid-century craftsman homes and newer construction are attracting diverse buyers.
While housing costs have risen overall, Auburn still offers relative affordability compared to tech hubs like Bellevue or Redmond. This balance of economic opportunity and manageable costs is a key driver of Auburn’s growth.
Renting in Auburn: What’s Typical?
For renters in Auburn, the average monthly rent currently stands at around $1,650 for a 1-bedroom apartment and $2,100 for a 2-bedroom. These prices reflect the city’s most popular renter areas, which include the downtown district and newer complexes along the Green River.
Auburn’s renter demographics skew toward young professionals and small families. Many are drawn to the city’s outdoor amenities, relative affordability, and easy access to major employers like Boeing and Amazon.
While rent in Auburn has risen by about 6% in the last year, areas like the historic downtown still offer competitive options for cost-conscious renters. Older garden-style apartments and townhouse communities provide alternatives to pricier new construction.
Owning a Home in Auburn
For prospective homebuyers, the median home price in Auburn currently sits at $540,000. With a 10% down payment and a 30-year fixed mortgage at 6.5%, that translates to a monthly mortgage payment of around $3,100.
However, the full cost of ownership also includes expenses like property taxes, insurance, and HOA dues. In Auburn, annual property taxes typically add $300-400 per month, while insurance averages $80-120. For homes with HOAs, monthly dues commonly range from $200-400.
All together, a realistic total monthly cost for owning a median-priced home in Auburn falls between $3,600 and $4,000. While higher than renting on a monthly basis, ownership offers the long-term benefits of equity and tax deductions.
Renters vs. Homeowners: Who Lives Where?
Auburn’s current homeownership rate stands at 63%, slightly higher than the national average. The city’s mix of established neighborhoods and new construction attracts a range of buyers, from young families to downsizing retirees.
Renters, meanwhile, are concentrated in Auburn’s apartment communities and townhouse developments. Young professionals are drawn to the relative affordability and flexibility of renting, while some older residents opt to rent for low-maintenance living.
While renting is common among younger individuals, rising incomes and work-from-home trends are making ownership more attainable. Auburn’s diverse housing stock offers options for a variety of budgets and life stages.
| Expense | Apartment (2BR) | House (Median Price) |
|---|---|---|
| Rent/Mortgage | $2,100 | $3,100 |
| Property Tax | – | $350 |
| Insurance | $15 (renters) | $100 (homeowners) |
| Utilities | $180 | $250 |
| HOA | – | $300 |
| Total | $2,295 | $4,100 |
Estimates reflect mid-range properties and average usage.
What’s Driving Costs Up or Down?
Several key factors are influencing housing costs in Auburn. On the demand side, the city’s growing tech sector and influx of remote workers are putting upward pressure on prices, especially in desirable areas close to employers or outdoor recreation.
In terms of supply, Auburn’s ongoing construction of apartments and houses is helping to temper price increases. The city’s zoning policies have encouraged density in the urban core, with taller apartment buildings and infill development.
Broader economic trends also play a role. Mortgage interest rates, currently hovering above 6%, directly impact the affordability of owning a home. When rates rise, some prospective buyers are priced out, putting more pressure on the rental market.
FAQs About Housing in Auburn
Is Auburn affordable to live in?
Compared to many Seattle suburbs, Auburn offers relative affordability. While housing costs have risen in recent years, the city’s median home price and average rents are lower than in Bellevue, Kirkland, or Redmond.
Why are housing prices changing?
Auburn’s housing prices are influenced by the growth of the local tech sector, an influx of remote workers, and broader economic factors like mortgage interest rates. New construction is helping to meet demand, but prices have still trended upward.
How does Auburn compare to nearby cities?
Among Seattle suburbs, Auburn is known for its relative affordability, outdoor recreation, and growing economic base. Its housing costs are lower than in cities closer to Seattle, but it still offers convenient access to major employers and amenities.
Making Smart Housing Decisions in Auburn
For residents like Jenna who are weighing the cost of living in an apartment vs house in Auburn, the key is to consider both monthly expenses and long-term financial goals. Renting offers flexibility and predictable costs, while owning builds equity over time.
Whichever path you choose, it’s important to budget carefully and plan for the full scope of housing expenses. Jenna used tools like this [Average Monthly Expenses in Auburn, WA](/auburn-wa/monthly-budget/) breakdown to get a clear picture of her total costs.
By understanding the nuances of the Auburn market and the true cost of different housing options, you can make an informed decision that fits your lifestyle and financial future. For a deeper dive, check out our comprehensive guide on the [Cost of Living in Auburn: Your Monthly Budget Guide for 2025](/auburn-wa/cost-overview/).