Why Do Apartments in the Same Complex Have Different Prices?

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Why Do Apartments in the Same Complex Have Different Prices?

Staff Writer · Oct 15, 2010

When apartment hunting, finding that different apartments in a complex have sometimes radically different prices can be puzzling. You won’t understand exactly why some apartments cost more than others despite being in the same location until you look at the different features.

Apartment Size

Perhaps the most obvious reason why different apartments in a complex have different prices is size. Most apartments offer multiple sizes of apartments; you won’t find that all of the apartments in the same building are just cookie-cutter copies of one another.

Some apartments may have one bedroom, others may have two to three bedrooms and still others could be studio or bachelor apartments in which there is no separate bedroom and there’s only one open living area. Some apartments have one bathroom, while others have two or more. Some apartments have full kitchens and others just have small kitchenettes. The larger the apartment, the greater the cost.

Apartment Location

Depending on the location and the view you could get from the apartments in the complex, you’ll find that either the upper floor or the lower floor apartments are more expensive than the other apartments. In beautiful locations in complexes with elevators, the top floor apartments can be pricey because of the additional view. However, in remote locations in which an apartment complex only has stairs to serve the upper floors, the lowest floor apartments may be more expensive because of their added convenience.

Apartment Amenities

Similar apartments in a complex can can be more expensive than others simply because of additional amenities. For example, corner apartments may have more windows and open areas than the majority of apartments sandwiched between them. Other apartments may have an in-unit washing machine. Some include roomy patios or balconies while others have small balconies or no balcony or patio at all.

Also included among the idea of “apartment amenities” is the view. Some apartments could face beautiful locales, such as the waterfront, a landscape or a metropolitan area, whereas apartments on the opposite side could have a less desirable view.

Utilities Included (or Not Included)

Some apartment complex owners may try to appeal to multiple consumers by offering packaged rental deals and barebone deals for virtually the same apartments. Package deals typically include an additional flat-rate for utilities, such as water, electricity and heating/cooling costs, whereas barebone deals just charge a flat-rate for rent and ask the apartment resident to pay for utilities as they use them.

Depending on how much electricity and the like you use, the additional cost of a flat-rate utilities charge can turn out to be a deal, especially when you consider heating and cooling costs. However, if you’re not home much and/or don’t use much electricity, you may want to save money by paying for only as much as you use.

Whether or not it’s worth it to pay extra for certain apartments in a complex depends on what kind of apartment amenities you find appealing and whether or not you can afford the upgrade. However, you may find on closer inspection that the more expensive apartments aren’t worth the extra cost for you.

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