Renting vs. Owning in Round Rock: What You’ll Pay
When comparing the cost of living in an apartment vs house in Round Rock, the biggest factor is usually housing. The average rent for a 2-bedroom apartment in Round Rock is around $1,800 per month, while the average rent for a 3-bedroom house is closer to $2,450 per month. Mortgage payments on a median-priced home are similar to renting a house, though other costs like property taxes and insurance add to the total.
Of course, these are just averages – actual prices vary based on location, age, and amenities. Newer luxury apartments in desirable areas of Round Rock can easily top $2,500 for a 2-bed, while older or more basic houses might rent for under $2,000. When buying, home prices range from the $300,000s for modest starter homes up to $1 million+ for large houses in premier neighborhoods.
Beyond the rent or mortgage, it’s important to factor in additional monthly costs like utilities, maintenance, and fees. These can add hundreds of dollars to your housing budget, as we’ll explore next.
Table: Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs* for mid-range apartments and houses in Round Rock:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $1,800 | $2,450 |
| Electricity | $120 | $180 |
| Water/Sewer | $50 | $80 |
| Internet | $60 | $60 |
| Renters/Home Insurance | $20 | $120 |
| Maintenance & Repairs | $0 | $200 |
| HOA/Condo Fees | $250 | $50 |
| Total | $2,300 | $3,140 |
*Estimates are for mid-range units with typical usage. All income figures are expressed as gross monthly income (pre-tax).
Utility and Upkeep Differences
In general, houses have higher utility costs than apartments of a similar size. This is due to a few key factors:
- Larger square footage means more space to heat, cool, and light
- Older, less efficient appliances and HVAC systems are common
- Yards and more bathrooms increase water usage
- Trash and sometimes even water are often included in apartment rent
Maintenance is another big variable. Apartments typically include all repairs and upkeep in the rent, while homeowners have to budget for things like lawn care, pest control, plumbing fixes, paint, and more. Many newer homes in Round Rock have fairly low-maintenance yards, but upkeep costs can still add up.
Lifestyle Tradeoffs
Of course, the decision between renting an apartment or buying a house often comes down to more than just cost. Lifestyle fit is a huge consideration. Many Round Rock residents choose apartments for their convenient location, professional management, and amenities like pools and gyms. Young professionals, singles, and empty nesters often prefer the low-maintenance apartment life.
On the flip side, families tend to favor houses for the extra space, private yards, and long-term stability. Having a dedicated office, playroom, or guest room is a big plus. Pets are also easier with a yard, though many Round Rock apartments do allow dogs and cats for a fee. Parking, noise, and commute are other common decision factors.
Which Is Cheaper Long Term in Round Rock?
While renting is almost always cheaper than buying on a monthly basis, owning can make more financial sense long-term. Let’s compare the 5-year cost of renting a $1,800 apartment vs. buying a $400,000 house in Round Rock (assuming a 10% down payment and 5% interest rate):
- Total rent paid over 5 years: $108,000
- Total mortgage paid over 5 years: $116,279
- Estimated home value after 5 years: $460,000
- Equity gained: $100,000
So while the renter spent less out of pocket, the homeowner comes out around $90,000 ahead overall thanks to appreciation and principal paydown. They’d also benefit from tax deductions and no risk of rent increases along the way. Of course, this assumes the home increases in value, which isn’t guaranteed.
FAQs About Housing Costs in Round Rock
How much more does a house cost per month?
On average, houses in Round Rock cost $500-1000 more per month than apartments when you consider the full cost of ownership. Our Monthly Budget Examples for Round Rock Residents break it down.
Do houses come with higher utility bills?
Yes, standalone houses typically have higher utility costs for electricity, gas, water, and sewer. The exact difference depends on the size and age of the home.
Are apartments cheaper even with pet fees?
In most cases, yes. Pet rent and deposits add to the monthly cost of apartments, but it’s still usually cheaper than the total cost to own and maintain a house. However, having a yard can save on dog walking or pet sitting.
Making the Right Housing Choice in Round Rock
As this comparison shows, apartments are generally the cheaper option in Round Rock on a monthly basis, often by $800 or more. For maximum savings, look for communities that include utilities, parking, gym access, and other amenities in the base rent.
However, houses can be the better long-term investment when you consider equity and appreciation. Many homeowners also find the privacy, space, and stability well worth the added expense. Tools like our Property Tax and HOA Fee Estimator can help you budget accordingly.
Ultimately, the right choice depends on your finances, family size, location needs, and future plans. But whether you decide to rent or buy, Round Rock offers some great housing options for a variety of budgets and lifestyles.