Cost Comparison: Living in a House vs Apartment in Garner

Renting vs. Owning in Garner: What You’ll Pay

When deciding between an apartment or house in Garner, NC, cost is often a key factor. On average, renting a 2BR apartment in Garner typically costs around $1,400/month, while a 3BR house may run closer to $2,100/month. The average rent for a 3BR house in Garner is $2,050/month. However, the cost of renting a 3BR house in Garner has increased by about 6% over the last year, with more affordable options available in neighborhoods like White Oak.

Beyond just rent, it’s important to consider the full monthly cost picture. Apartments often come with some utilities included, like water, sewer, and trash. Houses, on the other hand, typically require the renter or owner to cover all utilities separately. Homeowners will also need to factor in property taxes, insurance, and ongoing maintenance costs.

Let’s take a closer look at how the monthly expenses stack up for a typical apartment vs house in Garner.

Table: Cost Comparison – Apartment vs House

Here’s a side-by-side breakdown of common monthly costs in Garner:

Estimates are for mid-range units with typical usage.

Utility and Upkeep Differences

In addition to the base rent, utility costs can vary significantly between apartments and houses in Garner. Some key differences to keep in mind:

• Water/sewer is often included in apartment rent, but paid separately for houses
• Cooling costs tend to be higher for houses in the summer due to larger square footage
• Lawn care and pest control are typically covered by apartment complexes
• Houses may have older, less efficient HVAC and appliances, leading to higher bills

The age and size of the property play a big role in monthly utility expenses. Newer apartments are more likely to have energy-efficient features like double-pane windows, LED lighting, and Energy Star appliances. They also tend to be smaller than single-family homes, which means less space to heat and cool. Older houses, on the other hand, may have dated HVAC systems, leaky windows and doors, and lack insulation – all of which can drive up electric and gas bills.

Lifestyle Tradeoffs

Of course, monthly cost is just one piece of the puzzle when choosing between an apartment or house. Lifestyle fit is equally important. Apartments in Garner tend to offer greater walkability and access to amenities, with many complexes located near shopping, dining, and parks. They also come with less maintenance hassle, since the property manager handles repairs, landscaping, and upkeep.

Houses, while more expensive, provide more space, privacy, and flexibility. They’re a great fit for families who need extra bedrooms, a yard for kids and pets to play, and the ability to customize the property. Many Garner neighborhoods also offer a strong sense of community, with block parties, playgroups, and social events.

Parking is another consideration. Most houses in Garner come with private driveways and even garages, while apartment parking can be limited to first-come, first-served lots or assigned spaces. For those who drive multiple cars or have visitors often, a house may be a better fit.

Which Is Cheaper Long Term in Garner?

While renting an apartment is cheaper on a monthly basis, buying a house in Garner could be more cost-effective in the long run. Let’s say an apartment rents for $1,400/month, while a comparable house has a mortgage of $2,100/month (assuming a 10% down payment). Over the course of 5 years, the total spent on rent would be $84,000. Owning the house, on the other hand, would cost $126,000 – but $50,000 of that would go toward building equity.

Plus, mortgage payments stay relatively stable year-to-year, while rents in Garner have been rising at a rate of 4-6% annually. Assuming a 5% rent increase per year, that $1,400/month apartment would cost over $1,750/month by year 5. So while a house comes with higher upfront costs, it can provide greater long-term financial stability and asset-building in a growing market like Garner.

FAQs About Housing Costs in Garner

How much more does a house cost per month?
On average, a 3BR house in Garner costs about $1,000 more per month than a 2BR apartment when you factor in rent/mortgage, utilities, insurance, and maintenance.

Do houses always have higher utility bills?
Not necessarily – it depends on the age, size, and efficiency of the property. Newer houses with updated HVAC and appliances may have lower bills than older apartments. But in general, houses have higher utility costs due to more square footage.

Are apartments still cheaper with pet rent?
Usually, yes. While many Garner apartments charge pet rent (around $25-50/month), they still tend to be cheaper than houses when you look at total monthly expenses. However, houses offer more space and often a yard for pets.

Making the Right Housing Choice in Garner

Choosing between an apartment or house in Garner really comes down to your budget, lifestyle, and long-term goals. Apartments offer greater affordability and convenience, with average rent for a 2BR around $1,400/month. Houses provide more space and flexibility, but come with higher monthly costs – typically around $2,700/month for a 3BR.

Be sure to look at the full picture of monthly expenses, including utilities, insurance, maintenance, and fees. And factor in your personal priorities, like walkability, yard space, parking needs, and pet-friendliness. While houses are more expensive upfront, they can be a smart long-term investment in a growing market like Garner.

Ultimately, the right choice depends on your unique situation and goals. But whether you rent an apartment or buy a house, Garner offers a welcoming community with a great quality of life. For more info on budgeting for your Garner home, check out our guides on average monthly expenses and property taxes and HOA fees.