Renting vs. Owning in Smyrna: What You’ll Pay
When deciding between renting an apartment or buying a house in Smyrna, it’s important to understand the full cost of living in each housing type. The average rent for a 2-bedroom apartment in Smyrna is currently $1,550 per month, while the typical mortgage payment on a 3-bedroom house is around $2,100 (assuming a 20% down payment). The average rent for a 3BR house in Smyrna is $2,450/month.
However, the monthly payment is just one piece of the puzzle. Renters need to factor in utilities, parking fees, pet rent, and renters insurance. Homeowners have additional expenses like property taxes, HOA dues, higher utility bills, and ongoing maintenance costs. Let’s break down the numbers.
Cost Comparison – Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Smyrna:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage* | $1,550 | $2,100 |
| Utilities | $180 | $350 |
| Internet | $65 | $65 |
| Insurance | $15 | $80 |
| Maintenance | $0 | $250 |
| HOA | $0 | $150 |
| Total | $1,810 | $2,995 |
*Mortgage payment based on 20% down. Estimates are for mid-range units with typical usage.
Utility and Upkeep Differences
In general, houses have higher utility costs than apartments due to their larger size. Key differences include:
- Water/sewer – Houses use 2-3x more
- Electricity – Larger HVAC load for houses
- Gas – Houses more likely to have gas heat, dryers, fireplaces
- Trash/recycling – Often included in apartment rent
- Lawn care – Not applicable for most apartments
Newer apartment complexes in Smyrna often include trash service and have more efficient cooling systems. However, in-unit laundry, high-end appliances, and electric vehicle charging can increase apartment utility bills.
Lifestyle Tradeoffs
Of course, the decision between renting and owning is not just financial. Apartments and houses offer very different lifestyles. Apartments provide amenities like pools, gyms, and social events, with less upkeep and more flexibility to move. Houses offer more space, privacy, and control, but come with added responsibilities and less mobility.
Many Smyrna residents choose apartments for their convenient location, walkability to shops and restaurants, and included maintenance. Families tend to prefer houses for the extra bedrooms, private yard space, and ability to personalize the property. Consider factors like your commute, parking needs, pets, and desire to take on home improvement projects.
Which Is Cheaper Long Term in Smyrna?
While renting is often cheaper in the short term, owning a home can be more cost-effective in the long run. Assuming a 1.8% annual rent increase and 3% home appreciation, a house in Smyrna becomes the better deal after 5 years. After a decade, the homeowner comes out tens of thousands of dollars ahead, even after accounting for maintenance and repair costs.
However, this calculation changes based on your down payment, interest rate, and how long you plan to stay in the home. Renting is the more affordable choice if you expect to move within a few years. Our Monthly Budget Examples for Smyrna Residents can help you crunch the numbers.
FAQs About Housing Costs in Smyrna
How much more does a house cost per month?
In Smyrna, houses typically cost $1,000-$1,500 more per month than apartments when you include the full cost of utilities, insurance, and maintenance.
Do houses come with higher utility bills?
Yes, houses in Smyrna usually have utility costs 50-100% higher than apartments due to the larger square footage and outdoor spaces.
Are apartments cheaper even with pet fees?
For most pet owners, apartments are still cheaper than houses, even with monthly pet rent and one-time fees. However, large dogs may have limited apartment options. Learn more about Understanding Property Tax and HOA Fees in Smyrna.
Making the Right Housing Choice in Smyrna
Both renting and owning have their advantages in Smyrna. While houses are more expensive on a monthly basis, they offer more space and long-term wealth building. Apartments are the more affordable and low-maintenance option, especially for short stays.
Ultimately, the right choice depends on your budget, lifestyle, and goals. Use the cost breakdown above as a starting point, and dive deeper with our other resources on budgeting, taxes, and home ownership in Smyrna.