Deciding between renting an apartment or buying a house in Auburn, WA ultimately comes down to your budget and lifestyle preferences. While renting offers flexibility and lower upfront costs, owning a home provides more space and long-term equity. To help you make an informed choice, let’s break down the cost of living in an apartment vs house in Auburn.
Renting vs. Owning in Auburn: What You’ll Pay
In Auburn, the average rent for a 2BR apartment is around $1,800 per month, while a 3BR house typically rents for $2,450 monthly. The median home price in Auburn is $450,000, translating to a mortgage payment of roughly $2,700/month. However, this can vary significantly based on the neighborhood, with more affordable options in areas like Lakeland Hills.
For new homebuyers in Auburn, single-family houses are the most popular choice, with 65% opting for a detached home over a condo or townhouse. This reflects the city’s suburban character and abundance of residential neighborhoods.
Keep in mind that these figures represent gross monthly costs before factoring in utilities, maintenance, and other expenses. Average monthly expenses in Auburn also include food, transportation, healthcare, and entertainment, which can add up quickly.
Table: Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Auburn:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage* | $1,800 | $2,700 |
| Utilities | $150 | $250 |
| Internet | $60 | $60 |
| Insurance | $15 (renters) | $80 (homeowners) |
| Maintenance | $0 | $150 |
| HOA | $0 | $50 |
| Total | $2,025 | $3,290 |
*Mortgage based on $450K home with 10% down and 3.5% interest rate. Estimates are for mid-range units with typical usage.
Utility and Upkeep Differences
In addition to the base rent or mortgage, housing costs are heavily influenced by utilities and maintenance. Some key differences between apartments and houses include:
- Water/sewer is often included in apartment rent, while homeowners pay separately
- Houses have higher heating and cooling costs due to larger square footage
- Apartments may include trash and recycling, but house dwellers pay extra
- Renters aren’t responsible for repair costs, but homeowners must budget for upkeep
- Houses with yards require ongoing landscaping and lawncare
These additional costs can add hundreds of dollars per month for homeowners, whereas renters have more predictable, controlled expenses. However, upgrades and renovations to an owned home can increase its resale value over time.
Lifestyle Tradeoffs
Aside from the financial aspects, there are important lifestyle factors to consider when choosing between an apartment or house in Auburn. Houses provide more privacy, space for families, and private outdoor areas for gardening, pets, and recreation. Some may prefer the convenience of an apartment near downtown, while others enjoy the extra elbow room a house affords.
Many Auburn residents opt for apartments to be closer to work or school, with walkable access to shops, restaurants, and transit. Families, on the other hand, often prefer the yard space and neighborhood feel of the suburbs. Parking is also a consideration – houses usually include a garage and driveway, while apartments may charge extra for a dedicated spot.
Which Is Cheaper Long Term in Auburn?
While renting is cheaper upfront, buying a home in Auburn can be more economical over the long haul. Assuming a 1.5% annual rent increase and 2% property appreciation, a $450,000 house with 10% down would accrue $175,000 in equity over 5 years, versus $0 for renting.
Even factoring in maintenance and repair costs, owning becomes comparatively cheaper than renting after 6-7 years for most Auburn homebuyers. However, this calculation changes if you plan to move sooner or can’t afford the higher monthly expense of a mortgage.
FAQs About Housing Costs in Auburn
How much more does a house cost per month?
On average, houses in Auburn cost $900-$1,300 more per month than apartments when accounting for higher utilities, insurance, and upkeep on top of the mortgage.
Do houses come with higher utility bills?
Yes, standalone homes have more space to heat and cool, increasing energy costs. They also require separate payment for water, sewer, and trash that apartments often include.
Are apartments cheaper even with pet fees?
Most apartments charge pet rent around $50/month, which is still much less than the added monthly expense of owning a home. However, houses offer more space for pets and private yards.
Making the Right Housing Choice in Auburn
Ultimately, the decision between an apartment or house in Auburn is a combination of your financial picture and future plans. Renting is more affordable and flexible in the short term, while buying provides stability and wealth-building potential if you plan to stay put.
Be sure to budget for the full cost of your housing, including property taxes, HOA fees, and any special assessments in your desired neighborhood. You can use our monthly expense calculator to estimate your total cost of living and find the right fit for your lifestyle.