Renting vs. Owning in Pasadena: What You’ll Pay
When deciding between renting an apartment or buying a house in Pasadena, the cost of living in an apartment vs house is a key consideration. On average, the monthly rent for a 2-bedroom apartment in Pasadena is around $1,200. The average rent for a 3BR house in Pasadena is $1,800/month. Of course, prices vary based on location, age, and amenities.
Beyond the base rent or mortgage, there are additional monthly costs to factor in like utilities, maintenance, and insurance. Homeowners also need to budget for property taxes and potentially HOA fees. Let’s break down the typical expenses.
Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Pasadena:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $1,200 | $1,800 |
| Utilities | $150 | $250 |
| Internet | $60 | $75 |
| Insurance | $15 (renters) | $100 (homeowners) |
| Maintenance | $0* | $150 |
| HOA | $0 | $50 |
| Total | $1,425 | $2,425 |
*Included in rent. Estimates are for mid-range units with typical usage.
As shown, the total monthly cost to rent a 2BR apartment in Pasadena averages around $1,425, while a 3BR house runs closer to $2,425. The $1,000 difference is significant, especially for those on a tighter budget. But square footage and lifestyle also matter.
Utility and Upkeep Differences
In Pasadena, many homes use swamp coolers which can help reduce A/C bills in the summer compared to central air. However, houses have more space to cool and heat. Apartments are generally more efficient overall.
Renters also avoid maintenance and repair costs like:
- Lawn care and landscaping
- Pest control
- Plumbing and appliance repairs
- Roof and exterior upkeep
These expenses can add up quickly for homeowners, often exceeding the estimates shown. Newer Pasadena apartment complexes frequently include trash service and even internet in the base rent.
Lifestyle Tradeoffs
Financially, renting is often cheaper than owning in Pasadena. But money isn’t everything. Houses provide more space, privacy, and freedom to personalize the property. They’re better for pets, kids, and hosting. Many Pasadena residents choose apartments for the convenient location and included amenities, while families prefer houses for the extra bedrooms and yard.
Parking is another consideration. Apartments usually have shared lots or garages, which may charge extra, while houses include private driveway parking. Commute times can vary. Living closer to work or school may be easier in an apartment, but some Pasadena neighborhoods offer quick access to major highways.
Which Is Cheaper Long Term in Pasadena?
While renting is cheaper month-to-month, owning can be more cost-effective long term, especially as rents rise. Assuming a 2% annual rent increase, after 5 years the 2BR apartment would cost $1,550/month. The 3BR house mortgage would stay fixed at $1,800 if on a fixed rate.
After 30 years, the house would be paid off, reducing the monthly cost to just taxes, insurance, and upkeep – perhaps $500/month. The same apartment could exceed $2,200/month in rent by then. Owning builds equity over time.
FAQs About Housing Costs in Pasadena
- How much more does a house cost per month?
On average, a 3BR house costs about $1,000 more per month than a 2BR apartment in Pasadena when accounting for utilities and upkeep. - Do houses come with higher utility bills?
Yes, houses in Pasadena usually have higher utility costs than apartments since they are larger and less efficient. The difference is often $100+ per month. - Are apartments cheaper even with pet fees?
Apartments that allow pets typically charge monthly pet rent around $35 plus a few hundred upfront for a deposit. Even with pet fees, apartments are usually cheaper overall than houses in Pasadena. But houses provide more space for animals.
Making the Right Housing Choice in Pasadena
Both renting and owning have their advantages in Pasadena. Apartments offer affordability, convenience, and included services that are great for singles, couples, and anyone prioritizing location over space. Houses provide room to grow, outdoor areas, and long-term equity for families and those with pets.
Ultimately, the right option depends on your budget, lifestyle, and goals. To explore Pasadena housing costs further, check out these related articles:
The cost difference between renting and owning in Pasadena is significant – easily $500-$1,000 per month when factoring in all expenses. But with those savings comes tradeoffs in space, amenities, and autonomy. Consider your needs and crunch the numbers to make the smartest choice for your situation.