Renting vs. Owning in Mesa: What You’ll Pay
When comparing the cost of living in an apartment vs house in Mesa, the first factor is usually rent or mortgage payments. In Mesa, the average rent for a 2-bedroom apartment is around $1,450 per month. The average rent for a 3BR house in Mesa is $2,200/month. Mortgage costs for a typical single-family home can range from $1,800 to $2,600 depending on the neighborhood, size, and down payment.
Of course, monthly housing costs go beyond just rent or mortgage payments. Utilities, insurance, maintenance, and other fees can add hundreds of dollars per month. Let’s break down the key differences between renting an apartment and owning a house in Mesa.
Cost Comparison: Apartment vs House in Mesa
Here’s a side-by-side breakdown of common monthly costs in Mesa:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $1,450 | $2,200 |
| Electricity | $120 | $180 |
| Water/Sewer | Included | $90 |
| Internet | $65 | $65 |
| Renters/Home Insurance | $15 | $100 |
| Maintenance/Repairs | $0 | $150 |
| HOA Fees | $0 | $50 |
| Total | $1,650 | $2,835 |
Estimates are for mid-range units with typical usage
As you can see, the total monthly cost for a house is nearly $1,200 higher than renting an apartment, largely due to the higher rent/mortgage payment. Houses also tend to have higher utility bills, insurance premiums, and maintenance costs. Some houses in Mesa also have HOA fees that can add $50-300 per month.
Utility and Upkeep Differences
In addition to the base costs, there are several other factors that impact apartment vs house living expenses in Mesa:
- Water/sewer is often included in apartment rent but paid separately for houses
- Houses have more space to cool and heat, leading to higher electricity bills
- Older Mesa homes may use evaporative coolers which are cheaper to run than AC
- Apartments include building maintenance, while homeowners pay for repairs
- Houses require additional upkeep like lawn care, pest control, and pool cleaning
These extra costs can easily add a few hundred dollars per month to the overall housing budget. Homeowners need to plan ahead for big-ticket repairs like a new roof or HVAC system, while renters are not responsible for those expenses.
Lifestyle Tradeoffs Between Apartments and Houses
Aside from the hard costs, there are also lifestyle factors to consider when choosing between an apartment or house in Mesa. Apartments offer greater flexibility, mobility, and convenience – many are located in walkable areas near shopping, dining and entertainment. They also require less time and effort to maintain.
Houses provide more space, privacy and freedom to customize the property. They are better suited for families, pets and hosting guests. Many Mesa neighborhoods have great amenities like parks, playgrounds and community pools. The tradeoff is more yardwork, upkeep, and a longer commute in some cases.
As one Mesa resident put it: “I loved my apartment near Downtown for the social perks, but ultimately bought a house for my growing family. We needed the extra bedrooms and a yard for the kids to play in. The utility bills are higher but it’s worth the tradeoff for us.”
Which is Cheaper Long-Term: Apartment or House?
While renting is almost always cheaper than owning on a monthly basis, buying a home can be a better financial move long-term. Let’s compare the 5-year cost of renting a $1,450 apartment vs. buying a $350,000 house in Mesa (with 10% down):
- Total rent paid over 5 years: $87,000
- Total mortgage paid over 5 years: $113,000 (portion goes to equity)
- Minus appreciation: Home value rises to $385,000 (assumes 2% per year)
- Effective cost to own: $78,000 ($113k – $35k in equity)
In this simplified scenario, owning the home saves about $9,000 over renting after 5 years. That advantage grows over time as the owner builds more equity and the home appreciates in value.
However, this math only works if you stay put for several years. It takes time to recoup the upfront costs of buying, like the down payment, closing costs, and moving expenses. Experts generally recommend staying in a home at least 5-7 years to make it worthwhile.
FAQs About Housing Costs in Mesa
How much more does a house cost per month?
In Mesa, the typical house costs about $1,200 more per month than an apartment when you include rent/mortgage, utilities, insurance and maintenance.
Do houses always have higher utility bills?
Yes, houses in Mesa tend to have higher utility costs for a few reasons. They have more space to heat and cool, higher water usage, and often older, less efficient systems and appliances.
Are apartments still cheaper with pet rent and parking fees?
Even with extra fees like pet rent, parking, and storage, apartments in Mesa are almost always cheaper than houses on a monthly basis. Those fees might add $50-150/month while mortgage and utilities easily cost $1000+ more.
Making the Right Housing Choice in Mesa
As this cost comparison shows, apartments are significantly cheaper than houses in Mesa on a monthly basis. The typical renter saves around $1,200 per month compared to owning a single-family home. That can make a big difference for those on a tight monthly budget.
However, owning can be the better financial move long-term. Owners build equity over time and aren’t subject to annual rent hikes. They also have more stability and freedom to customize their space.
Ultimately, the right choice depends on your budget, lifestyle, and long-term goals. Renting makes sense for those who value flexibility, convenience and lower upfront costs. Owning is better for families and those planning to stay put for 5+ years.
Whichever path you choose, make sure to consider the full picture of monthly expenses and plan accordingly. The cost difference between renting and owning adds up quickly, so it pays to weigh the tradeoffs carefully.