Renting vs. Owning in Scottsdale: What You’ll Pay
When comparing the cost of living in an apartment vs house in Scottsdale, the biggest difference is usually the monthly rent or mortgage payment. According to Zillow data from May 2023, the average rent for a 2-bedroom apartment in Scottsdale is $2,195 per month. The average rent for a 3-bedroom house in Scottsdale is $2,850 per month. Mortgage costs for a typical home purchase would be similar, assuming a 20% down payment.
Of course, these are just averages – actual costs can vary widely depending on the location, age, and amenities of the property. Newer luxury apartments in North Scottsdale will command higher rents than older units in South Scottsdale. Single-family homes also span a wide range, from modest 3-beds under $500K to sprawling estates over $2M.
Beyond the base rent or mortgage, there are several other monthly costs to factor in when budgeting for an apartment or house in Scottsdale. Utilities, insurance, maintenance, and other fees can add hundreds of dollars to the total cost of living.
Table: Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Scottsdale:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage* | $2,195 | $2,850 |
| Electricity | $120 | $180 |
| Water/Sewer/Trash | $50 | $90 |
| Internet | $65 | $65 |
| Renters/Homeowners Insurance | $15 | $100 |
| Maintenance/Repairs | $0 | $200 |
| HOA Fees | $250 | $50 |
| Total | $2,695 | $3,535 |
*Mortgage estimate assumes 20% down. Estimates are for mid-range units with typical usage.
As the table shows, the total monthly cost to rent a 2-bedroom apartment in Scottsdale averages $2,695, while a 3-bedroom house costs around $3,535 per month. That’s a difference of $840 per month, or over $10,000 per year.
Utility and Upkeep Differences
In addition to higher base costs, houses typically come with higher utility and maintenance expenses compared to apartments:
- Cooling a larger space requires more electricity, especially during the scorching Scottsdale summers. While many apartments include water costs, homeowners must pay for their own usage plus irrigation.
- Apartments generally cover all maintenance and repairs, while homeowners are on the hook for plumbing, electrical, appliances, roof, paint, and yard upkeep. Expect to budget 1-2% of the home’s value annually for maintenance.
- Houses often have more energy-hungry appliances like larger refrigerators, washers and dryers, and dishwashers that drive up utility costs. Older, less-efficient HVAC systems are also common.
That said, utility costs can sometimes be lower in Scottsdale houses than you might expect. Many homes use cost-effective evaporative coolers (also known as swamp coolers) for all or part of the year, significantly reducing A/C bills. Apartments may have lower-quality windows and insulation, leading to energy waste.
Lifestyle Tradeoffs
Of course, the decision between an apartment or house in Scottsdale isn’t just about dollars and cents. There are important lifestyle factors to consider:
Houses offer more space and privacy, making them ideal for families who need separate bedrooms, a private yard for kids and pets, and room to spread out. Many also have garages and driveways for convenient parking and storage. The tradeoff is more upkeep, like yard work and maintenance projects.
Apartments work well for singles, couples, and anyone who prioritizes convenience and location over space. Units are generally easier to clean and maintain, with on-site amenities like pools and gyms. Many Scottsdale residents choose apartments for the walkability to shops, restaurants, and nightlife.
Commute times, pet policies, noise levels, and community feel are other important considerations. Apartments may charge pet rent or restrict certain breeds, while houses in some areas of Scottsdale have no HOA or strict rules. Ultimately, it’s a personal choice based on your budget, lifestyle, and goals.
Which Is Cheaper Long Term in Scottsdale?
While renting is almost always cheaper than owning on a monthly basis, the long-term cost comparison depends on how long you plan to stay in Scottsdale and the appreciation of any home you purchase.
Using the average costs from the table above, renting a 2-bedroom apartment for 5 years would cost around $161,700 in total rent and utilities (assuming modest 3% annual increases). Owning a $600,000 house for the same period, including the down payment, mortgage, taxes, insurance, maintenance, and 2% annual appreciation, would cost approximately $225,000.
So purely on a cost basis, renting comes out ahead for stays under 5-7 years. But this doesn’t account for the forced savings and wealth-building effects of owning a home. As you pay down the mortgage and the property appreciates, you’re building equity – something you don’t get as a renter.
Talk to a local Scottsdale real estate agent or financial advisor to run the numbers for your specific situation and goals. Online monthly budget calculators and property tax/HOA fee estimators can also help with planning.
FAQs About Housing Costs in Scottsdale
How much more does a house cost per month?
On average, a 3-bedroom house in Scottsdale costs about $840 more per month than a 2-bedroom apartment when you factor in the mortgage/rent, utilities, insurance, maintenance, and HOA fees.
Do houses come with higher utility bills?
Yes, houses generally have higher utility costs than apartments since they have more space to heat and cool, higher water usage, and more appliances. But features like swamp coolers and good insulation can help keep bills manageable.
Are apartments cheaper even with pet fees?
While many Scottsdale apartments charge pet rent or one-time fees, the total monthly cost is still usually cheaper than a house – even for renters with pets. However, some apartments restrict breeds or sizes, so pet owners should carefully review policies.
Making the Right Housing Choice in Scottsdale
As this cost comparison shows, both apartments and houses have their advantages in Scottsdale. Apartments offer lower monthly costs, less maintenance, and amenities, while houses provide more space, privacy, and wealth-building potential.
For stays under 5 years, renting is often the cheaper option. Longer term, the decision depends on your budget, family size, pet situation, and location preferences. Consider the total monthly costs as well as the lifestyle fit.
Whichever option you choose, Scottsdale offers a range of great apartments and houses to meet diverse needs. Start your search early, tour properties in person, and don’t be afraid to negotiate. With careful planning and budgeting, you can find the perfect Scottsdale home at the right price.
Renting vs. Owning in Scottsdale: What You’ll Pay
When comparing the cost of living in an apartment vs house in Scottsdale, the biggest difference is usually the monthly rent or mortgage payment. According to Zillow data from May 2023, the average rent for a 2-bedroom apartment in Scottsdale is $2,195 per month. The average rent for a 3-bedroom house in Scottsdale is $2,850 per month. Mortgage costs for a typical home purchase would be similar, assuming a 20% down payment.
Of course, these are just averages – actual costs can vary widely depending on the location, age, and amenities of the property. Newer luxury apartments in North Scottsdale will command higher rents than older units in South Scottsdale. Single-family homes also span a wide range, from modest 3-beds under $500K to sprawling estates over $2M.
Beyond the base rent or mortgage, there are several other monthly costs to factor in when budgeting for an apartment or house in Scottsdale. Utilities, insurance, maintenance, and other fees can add hundreds of dollars to the total cost of living.
Table: Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Scottsdale:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage* | $2,195 | $2,850 |
| Electricity | $120 | $180 |
| Water/Sewer/Trash | $50 | $90 |
| Internet | $65 | $65 |
| Renters/Homeowners Insurance | $15 | $100 |
| Maintenance/Repairs | $0 | $200 |
| HOA Fees | $250 | $50 |
| Total | $2,695 | $3,535 |
*Mortgage estimate assumes 20% down. Estimates are for mid-range units with typical usage.
As the table shows, the total monthly cost to rent a 2-bedroom apartment in Scottsdale averages $2,695, while a 3-bedroom house costs around $3,535 per month. That’s a difference of $840 per month, or over $10,000 per year.
Utility and Upkeep Differences
In addition to higher base costs, houses typically come with higher utility and maintenance expenses compared to apartments:
- Cooling a larger space requires more electricity, especially during the scorching Scottsdale summers. While many apartments include water costs, homeowners must pay for their own usage plus irrigation.
- Apartments generally cover all maintenance and repairs, while homeowners are on the hook for plumbing, electrical, appliances, roof, paint, and yard upkeep. Expect to budget 1-2% of the home’s value annually for maintenance.
- Houses often have more energy-hungry appliances like larger refrigerators, washers and dryers, and dishwashers that drive up utility costs. Older, less-efficient HVAC systems are also common.
That said, utility costs can sometimes be lower in Scottsdale houses than you might expect. Many homes use cost-effective evaporative coolers (also known as swamp coolers) for all or part of the year, significantly reducing A/C bills. Apartments may have lower-quality windows and insulation, leading to energy waste.
Lifestyle Tradeoffs
Of course, the decision between an apartment or house in Scottsdale isn’t just about dollars and cents. There are important lifestyle factors to consider:
Houses offer more space and privacy, making them ideal for families who need separate bedrooms, a private yard for kids and pets, and room to spread out. Many also have garages and driveways for convenient parking and storage. The tradeoff is more upkeep, like yard work and maintenance projects.
Apartments work well for singles, couples, and anyone who prioritizes convenience and location over space. Units are generally easier to clean and maintain, with on-site amenities like pools and gyms. Many Scottsdale residents choose apartments for the walkability to shops, restaurants, and nightlife.
Commute times, pet policies, noise levels, and community feel are other important considerations. Apartments may charge pet rent or restrict certain breeds, while houses in some areas of Scottsdale have no HOA or strict rules. Ultimately, it’s a personal choice based on your budget, lifestyle, and goals.
Which Is Cheaper Long Term in Scottsdale?
While renting is almost always cheaper than owning on a monthly basis, the long-term cost comparison depends on how long you plan to stay in Scottsdale and the appreciation of any home you purchase.
Using the average costs from the table above, renting a 2-bedroom apartment for 5 years would cost around $161,700 in total rent and utilities (assuming modest 3% annual increases). Owning a $600,000 house for the same period, including the down payment, mortgage, taxes, insurance, maintenance, and 2% annual appreciation, would cost approximately $225,000.
So purely on a cost basis, renting comes out ahead for stays under 5-7 years. But this doesn’t account for the forced savings and wealth-building effects of owning a home. As you pay down the mortgage and the property appreciates, you’re building equity – something you don’t get as a renter.
Talk to a local Scottsdale real estate agent or financial advisor to run the numbers for your specific situation and goals. Online monthly budget calculators and property tax/HOA fee estimators can also help with planning.
FAQs About Housing Costs in Scottsdale
How much more does a house cost per month?
On average, a 3-bedroom house in Scottsdale costs about $840 more per month than a 2-bedroom apartment when you factor in the mortgage/rent, utilities, insurance, maintenance, and HOA fees.
Do houses come with higher utility bills?
Yes, houses generally have higher utility costs than apartments since they have more space to heat and cool, higher water usage, and more appliances. But features like swamp coolers and good insulation can help keep bills manageable.
Are apartments cheaper even with pet fees?
While many Scottsdale apartments charge pet rent or one-time fees, the total monthly cost is still usually cheaper than a house – even for renters with pets. However, some apartments restrict breeds or sizes, so pet owners should carefully review policies.
Making the Right Housing Choice in Scottsdale
As this cost comparison shows, both apartments and houses have their advantages in Scottsdale. Apartments offer lower monthly costs, less maintenance, and amenities, while houses provide more space, privacy, and wealth-building potential.
For stays under 5 years, renting is often the cheaper option. Longer term, the decision depends on your budget, family size, pet situation, and location preferences. Consider the total monthly costs as well as the lifestyle fit.
Whichever option you choose, Scottsdale offers a range of great apartments and houses to meet diverse needs. Start your search early, tour properties in person, and don’t be afraid to negotiate. With careful planning and budgeting, you can find the perfect Scottsdale home at the right price.