Renting vs. Owning in Bellevue: What You’ll Pay
When deciding between an apartment or house in Bellevue, the cost difference is a key factor. Renting a 2BR apartment in Bellevue typically costs around $2,800 per month, while a 3BR house may run closer to $4,200 monthly. The average rent for a 3BR house in Bellevue is $4,150 per month. Over the past year, the cost of renting a 3BR house in Bellevue has increased by 6%, with more affordable options found in the Crossroads and Eastgate neighborhoods.
For those looking to buy, the median home price in Bellevue is $1.3M. Townhomes are the most popular choice for first-time buyers in Bellevue, offering a balance of space and affordability. Assuming a 20% down payment and 3% interest rate on a 30-year mortgage, the monthly cost to own a median-priced home in Bellevue would be around $5,500 (including property taxes and insurance). It’s important to factor in the additional costs of homeownership like property taxes and HOA fees when comparing to renting.
Table: Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Bellevue:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $2,800 | $4,200 |
| Utilities | $120 | $250 |
| Internet | $65 | $65 |
| Insurance | $15 | $120 |
| Maintenance | $0 | $200 |
| HOA | $0 | $350 |
| Total | $3,000 | $5,185 |
Estimates are for mid-range units with typical usage.
Utility and Upkeep Differences
In addition to higher base rent, houses in Bellevue tend to have greater utility and maintenance costs compared to apartments:
- Water/Sewer: Houses use 25-50% more water, adding $40+/month
- Electricity: Cooling and heating a larger space increases bills by $80+/month
- Yard Care: Lawn mowing, landscaping, and gutter cleaning can add $150+/month
- Repairs: From plumbing to roof issues, homeowners should budget 1% of their home’s value annually for upkeep
Apartments offer cost savings through smaller square footage, shared walls for insulation, and maintenance staff to handle repairs and landscaping. However, older apartment buildings may be less energy-efficient, so utility costs can still add up, especially in Bellevue’s colder months.
Lifestyle Tradeoffs
For many Bellevue residents, choosing between an apartment and a house comes down to lifestyle priorities as much as budget:
- Location: Apartments are often centrally located for walkability and shorter commutes, while houses provide more space further out
- Community: Apartment complexes foster social interaction with shared amenities, but less privacy than a detached house
- Customization: Owning a home allows you to renovate and decorate freely, while apartments have more limitations
- Outdoor Space: Houses typically include private yards for gardening, pets, and entertaining, which most apartments lack
Some may prefer the turnkey convenience of an apartment near downtown Bellevue’s dining and entertainment. Others prioritize the extra square footage and autonomy that a suburban house provides for remote work and family life. Consider which setup best fits your daily routine and future goals.
Which Is Cheaper Long Term in Bellevue?
While renting is cheaper month-to-month, owning a home can be more cost-effective long term, especially in a high-demand market like Bellevue. Assuming a 4% annual rent increase, a $2,800/month apartment would cost $204,000 over 5 years. In contrast, a $1.3M house (with 20% down) would build $260,000 in equity over that same period, even accounting for upkeep and taxes.
However, this calculation changes if you plan to move within a few years. Closing costs, realtor fees, and market fluctuations can eat into your returns with a shorter ownership timeline. In cities like Bellevue, buying a home could be more economical over time, especially considering rising rents – but renting offers more flexibility to relocate as your needs change.
FAQs About Housing Costs in Bellevue
How much more does a house cost per month?
In Bellevue, a 3BR house costs about $1,400 more per month than a 2BR apartment when you factor in mortgage, taxes, insurance, HOA, and upkeep. Utilities add another $100-200/month.
Do houses always have higher utility bills?
Houses typically have 20-30% higher utility costs than apartments in Bellevue due to more space to heat/cool, higher water usage, and powering outdoor lighting and appliances. However, newer construction homes may have energy-efficient features that reduce bills.
Are apartments still cheaper with pet rent?
Even with a $50/month pet rent, apartments in Bellevue are significantly cheaper than houses when you consider total monthly expenses. For pet owners, an apartment with a dog park can provide the outdoor access of a house at a lower cost.
Making the Right Housing Choice in Bellevue
Choosing between an apartment and a house in Bellevue is a balance of budget, lifestyle, and long-term plans. Apartments offer cost savings and convenience, while houses provide more space and investment potential. Weigh the total monthly expenses, location, and your 5-year outlook to determine the best fit.
For a deeper dive into budgeting for Bellevue’s cost of living, check out our guide on affording life in this vibrant city. With the right housing choice and financial plan, you can enjoy all that Bellevue has to offer – from its natural beauty to its thriving tech scene.