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

A girl rides a scooter past a mix of houses and townhomes on a quiet residential street in Roswell, Georgia.
Roswell offers a variety of housing options, from single-family homes to apartments and townhomes, each with different costs and amenities.

When comparing the cost of living in an apartment vs house in Roswell, the first factor to consider is the base monthly payment. According to recent data, the average rent for a 2-bedroom apartment in Roswell is around $1,800 per month. In contrast, the average rent for a 3-bedroom house in Roswell is $2,450 per month. Of course, this assumes a rental house – purchasing a home involves a more complex calculation with a mortgage, down payment, property taxes, and long-term equity.

While the monthly rent or mortgage payment is often the largest line item, it’s important to factor in the full range of expenses to get a true picture of the cost of living. Utilities, insurance, maintenance, and lifestyle choices can add hundreds of dollars to the monthly bottom line. Let’s break down the numbers.

Table: Cost Comparison – Apartment vs House

Here’s a side-by-side breakdown of common monthly costs for a 2-bedroom apartment versus a 3-bedroom house in Roswell:

Expense 2BR Apartment 3BR House
Rent/Mortgage $1,800 $2,450
Electricity $120 $180
Water/Sewer $50 $80
Internet $60 $60
Renters/Home Insurance $15 $100
Maintenance/Repairs $0 $200
HOA Fees $0 $50
Total $2,045 $3,120

Estimates are for mid-range units with typical usage, expressed in gross monthly figures (pre-tax).

As the table shows, the total monthly cost of renting a house is over $1,000 higher than renting an apartment, on average. The gap is driven primarily by the higher base rent, as well as additional costs like insurance, maintenance, and HOA fees that are often covered in apartment living. Of course, every situation is unique, and a newer luxury apartment could easily cost more than an older, more modest house.

Utility and Upkeep Differences

In addition to the rent or mortgage disparity, apartments and houses tend to have very different utility costs. Some factors that impact the monthly bills include:

  • Square footage: Houses are typically much larger than apartments, requiring more energy to heat, cool, and light
  • Yard maintenance: While some houses include lawn care, many require the renter to maintain the grass, landscaping, and trees
  • Age and efficiency: Newer apartments often have energy-efficient appliances and windows, while older houses may be draftier or have outdated systems
  • Amenity bundling: Some apartments include utilities like trash, sewer, and internet in the monthly rent

In Roswell, many apartment complexes offer free trash service and feature efficient central air conditioning. Houses, on the other hand, often have larger yards that require watering – increasing both water bills and time spent on upkeep. Older houses may also rely on window units or less efficient HVAC systems. All in all, utility costs for houses tend to be 20-30% higher than comparable apartments.

Lifestyle Tradeoffs

Of course, choosing between an apartment and a house involves more than just dollars and cents. There are important lifestyle factors to consider, such as:

  • Space: Houses typically offer more square footage, storage, and yard space than apartments
  • Privacy: While apartments share walls with neighbors, houses are more private and separated
  • Location: Apartments are often located in more walkable, urban areas, while houses may be in quieter residential neighborhoods
  • Amenities: Many apartment complexes offer swimming pools, gyms, and community spaces included in the rent
  • Parking: Houses usually include private garages or driveways, while apartments may have shared lots or street parking

Lifestyle fit is a key consideration. Many Roswell residents choose apartments for their convenience, social atmosphere, and proximity to dining and shopping. Young professionals, couples, and downsizers often prefer the low-maintenance apartment life. On the flip side, growing families frequently opt for houses to gain more space, a yard for kids and pets, and a sense of privacy. Commute times, school districts, and community amenities also play a role in the decision.

Which Is Cheaper Long Term in Roswell?

While renting an apartment is clearly cheaper on a monthly basis, many wonder if a house is a better long-term investment. Assuming a 3% annual rent increase, a Roswell renter would spend the following over 5 years:

  • 2BR Apartment: $128,500
  • 3BR House: $196,500

That’s a difference of $68,000 – a significant amount. However, that doesn’t factor in the potential equity gained through home ownership. Assuming a modest 2% annual appreciation, a $400,000 Roswell home would accrue over $40,000 in equity over 5 years. That helps offset the higher monthly costs, but also requires a substantial down payment and involves more risk than renting.

The New York Times has a helpful calculator to weigh the rent vs. buy decision. In general, if you plan to stay put for 5+ years, buying a home becomes more financially advantageous than renting. But renting remains the lower-risk, more affordable option for short-term residents.

FAQs About Housing Costs in Roswell

How much more does a house cost per month?
In Roswell, the average rent for a house is about $600 more per month than an apartment. However, that doesn’t include additional costs like insurance, maintenance, and higher utilities.

Do houses always have higher utility bills?
While every property is different, houses typically have 20-30% higher utility costs than apartments. This is due to larger square footage, yard watering, and older systems. But a new, energy-efficient house could cost less than an older apartment.

Are apartments still cheaper with pet rent?
Many Roswell apartments charge pet rent or one-time fees, typically $20-50 per month. However, even with pet rent, apartments remain significantly cheaper than houses when factoring in all costs. Renters with pets should still budget for additional expenses like vet bills and pet deposits.

Making the Right Housing Choice in Roswell

As this analysis shows, renting an apartment in Roswell is significantly cheaper than a house on a monthly basis. The average renter can save over $1,000 per month – or $68,000 over 5 years – by choosing an apartment over a rental house. That said, every situation is unique, and there are important lifestyle factors to weigh alongside the financial considerations.

Regardless of which option you choose, it’s important to create a realistic monthly budget that accounts for the full cost of living, not just rent. Be sure to factor in utilities, insurance, and maintenance costs to avoid surprises. And don’t forget to budget for fun – Roswell has great restaurants, parks, and entertainment options to enjoy.

If you do opt for home ownership, make sure you understand the full financial picture, including property taxes, HOA fees, and long-term maintenance. Building equity can be rewarding, but it’s important to plan for all the associated costs and risks.

Ultimately, the right choice depends on your unique budget, lifestyle, and long-term goals. But whether you rent an apartment or a house, Roswell offers a great quality of life with a range of housing options for all stages of life.