By Ashley Lipman
With the cost of buying a home throughout the USA rising dramatically over the past few years, and only going higher, more and more people are deciding to rent instead of buying. It can save them money and also allow for more flexibility if they need or want to move.
However, while you may have made the decision to rent instead of buy, that’s not the only decision you need to make. You also need to decide where to rent. Every city and state have several different options, and where you ultimately choose is up to you. There are lots of things to consider and think about.
Will you look at downtown Dallas apartments or look at a suburb like Irving? Each has its own benefits and drawbacks. In an effort to help you make the choice, we have decided to take a closer look at the pros and cons of renting in the city vs. a suburb.
Renting in the City
Pros
- One of the biggest pros of renting in a city is convenience. You will likely be closer to shopping, your workplace and nearly everything else. And with the average American spending almost an hour on their commute every day, this convenience is nice to have.
- Renting in the city will almost always offer better and easier transport. Buses, trains, and the subway all make it easy to get around the city quickly. This makes it simple and quick to get around no matter where you need to go.
- Being in the city will give you more exposure to the city and the culture it has. You will be right in the thick of things and there will always be something to do or check out. Theaters, festivals, restaurants and other things to keep you entertained will only be a few blocks away at most.
Cons
- A very common drawback of living and renting in a city is the cost. Rent will almost certainly be higher in the city than in the suburbs. In addition to that, other costs like groceries and restaurants will likely also be more expensive. Sticking to a budget and watching your spending is very important.
- Another con of city living is often constant commotion and noise. Sure, some love to be in the thick of things, but sometimes it’s nice to get away and enjoy a quieter lifestyle. The constant hustle and bustle of the big city can often burn people out or increase their stress.
- Cities often also come with more competition. There will be increased competition for job positions, as well as more people looking to rent the available units, which can often drive prices up.
Renting in the Suburbs
Pros
- If you rent out in the suburbs, there is a good chance you will have access to much more space. Many apartments or homes in the cities are small, but people are willing to sacrifice space for convenience. In addition to having more space for yourself and your family, space will also be much more affordable.
- If you like a calm and quiet living, the suburbs is for you. You are still close enough to the city to go there frequently but can also escape back to your home, condo or apartment if it ever becomes too much to handle.
- An often underrated benefit of renting and living in the suburbs is often better access to schools. While this isn’t always the case, suburban schools often get more money to go towards education due to higher property taxes in most suburbs
Cons
- If you live in a suburb, there is a relatively high chance you still work in the city, as that is where most of the jobs are. As a result, you will likely have a very long commute time. No one wants to spend an hour or more driving every day, but for many people, it’s a reality.
- Another con of living in the suburbs is transportation. You will almost certainly need a vehicle if you live in the suburbs. Shopping, going to work, or even just going from one side of the suburb to the other will take longer with limited public transit options.
- Sometimes, living in a suburb can be boring. There often isn’t a lot going on and many people will want a little more action. Restaurant options might be limited, there might not be much for entertainment and the arts and culture might also be lacking. While you can certainly travel into the city for this, it can also be nice to have it closer to home.
In Conclusion: We hope that this article has been able to help you see the various pros and cons of renting in the suburbs vs. the city.