When deciding between renting an apartment or buying a house in Westminster, CA, it’s important to consider not just the monthly rent or mortgage, but the total cost of living. Homeowners must budget for property taxes, insurance, and ongoing maintenance, while renters often pay for utilities, renter’s insurance, and sometimes additional fees like parking or pets. So which housing option is more affordable in Westminster? Let’s take a closer look at the numbers.
Renting vs. Owning in Westminster: What You’ll Pay
On the surface, renting may seem cheaper than owning in Westminster. The average rent for a 2-bedroom apartment is around $2,200 per month, while the median mortgage payment for a 3-bedroom house is closer to $3,000. However, that doesn’t tell the full story.
Homeowners must also factor in property taxes, which average $5,500 per year in Westminster, as well as homeowners insurance, which can add another $100 or more to the monthly bill. Many neighborhoods also have Homeowners Association (HOA) fees, which cover shared amenities and maintenance. In Westminster, the typical HOA fee is $350 per month. So while a $3,000 mortgage payment may seem manageable, the true monthly cost is closer to $3,900 when you include taxes, insurance, and HOA dues.
Renters have some added costs as well, but they are generally more predictable. Most Westminster apartments require renters insurance, which averages $15 per month. Pet rent is also common, adding $50-75 per month for a dog or cat. Parking fees vary, but $100 per month is typical for a reserved space. All in, the real cost to rent a 2-bedroom apartment in Westminster is around $2,400 per month.
Cost Comparison Table: Apartment vs House
Here’s a side-by-side breakdown of common monthly costs in Westminster:
| Expense | 2BR Apartment | 3BR House |
|---|---|---|
| Rent/Mortgage | $2,200 | $3,000 |
| Property Tax | $0 | $460 |
| Insurance | $15 | $100 |
| HOA/Maintenance | $0 | $350 |
| Utilities* | $150 | $250 |
| Parking | $100 | $0 |
| Pet Rent | $50 | $0 |
| Total | $2,515 | $4,160 |
*Estimated utilities include electric, gas, water, trash, and internet. Actual costs will vary based on usage.
Utility and Upkeep Differences
In addition to the base rent or mortgage, apartments and houses have very different utility costs. Some key differences in Westminster include:
- Water/Sewer: Often included in apartment rent, but paid separately by homeowners. The average water bill in Westminster is $80/month.
- Trash: Typically covered by apartment complexes, but homeowners must contract with the city or a private hauler. Trash service averages $30/month.
- Electricity: Houses use more electricity than apartments due to larger square footage and amenities like A/C. The average electric bill is $100/month for an apartment vs. $150/month for a house.
- Gas: Used more in houses for heating, cooking, laundry, and water heaters. The average gas bill is $30/month for an apartment vs. $80/month for a house.
- Maintenance: Apartments handle most interior and exterior repairs, while homeowners are responsible for all upkeep. Homeowners should budget at least 1% of the home value per year for maintenance.
Lifestyle Tradeoffs
Of course, the decision between renting and owning is not just financial. There are significant lifestyle differences to consider as well:
Apartments offer greater flexibility and less responsibility. They are often located in more walkable areas, with nearby dining and entertainment options. Many complexes offer amenities like fitness centers, pools, and package lockers. However, apartments provide less privacy and space than houses, with shared walls and limited outdoor areas.
Houses provide more room to spread out, both indoors and out. They often have private yards, garages, and space for pets. Homeowners can also renovate and decorate to their personal tastes. However, houses typically require a longer commute and more household chores. Yardwork, repairs, and maintenance can eat up significant time and money.
In Westminster, many young professionals and empty nesters opt for low-maintenance apartment living, while families prefer the space and autonomy of a single-family home. Ultimately, the right choice depends on your budget, lifestyle, and long-term goals.
Which Is Cheaper Long Term in Westminster?
While renting is often cheaper than owning on a monthly basis, homeownership can be more cost-effective long term. Assuming a 1% annual rent increase and 3% annual appreciation for home values, here’s how the costs compare over 5 years:
- Total 5-year cost to rent a 2BR apartment: $157,000
- Total 5-year cost to own a 3BR house: $248,000
- Estimated home equity after 5 years: $98,000
So while owning clearly costs more, the forced savings of a mortgage can help build wealth over time. And with rents rising faster than incomes in Westminster and across Southern California, many see homeownership as a smart hedge against inflation.
FAQs About Housing Costs in Westminster
How much more does a house cost than an apartment in Westminster?
On average, houses in Westminster cost about $1,600 more per month than apartments when you factor in the full cost of ownership. However, the exact difference will depend on the size, age, and location of the home.
Do houses always have higher utility bills than apartments?
In most cases, yes. Houses are larger than apartments, with more space to heat and cool. They also tend to have more occupants and energy-intensive amenities like dishwashers and laundry rooms. However, newer homes with energy-efficient features can help keep utility costs in check.
Is it still cheaper to rent even with pet fees and parking costs?
It depends on the apartment, but in most cases, yes. Even with an extra $150 tacked on for pet rent and parking, the typical apartment in Westminster is still $1,500 cheaper per month than the average house when you include the full cost of ownership.
Making the Right Housing Choice in Westminster
As you can see, the cost difference between renting and owning in Westminster is significant, with houses running about $1,600 more per month on average. And while homeownership can be a smart long-term investment, it’s not the right choice for everyone. Ultimately, you’ll need to weigh the financial factors against your lifestyle needs and goals.
If you’re considering a move to Westminster, be sure to run the numbers carefully. Determine how much you can comfortably afford for housing based on your average monthly expenses, and don’t forget to factor in the full cost of ownership, including property taxes and HOA fees. With careful planning and budgeting, you can find the perfect apartment or house to call home in this vibrant SoCal city.