Price isn’t the only factor to consider when you’re looking for an apartment in Somerset, but it can certainly influence your decision. Apartment rental prices can vary substantially due to several factors, including location, amenities and other factors. Here’s what you can expect to pay for a rental in Somerset.
Rental Costs in Somerset
According to Zillow, the median rent in Somerset for all apartments is $2,200. Apartments.com breaks down average rent prices by the number of bedrooms. The average monthly rent for a one-bedroom apartment is $1,461, while the average two-bedroom apartment costs $1,792.
6 Factors That Affect Rental Prices
Have you ever wondered why you see such a difference in rental costs when you look at apartments online? Apartments in one section of town can cause hundreds of dollars more than those just a few streets away. The price you pay for your apartment may be influenced by:
Location: Location is one of the most important factors in housing prices. A good location drives up home prices and values and also affects rental prices. Apartments that are close to stores, restaurants, parks, recreational opportunities, schools, hospitals, highways and transportation will cost more than those in more distant locations. Although an apartment in a far-flung location may seem like a good deal initially, you may soon regret your decision if your commute time increases significantly or you have to get in your car every time you need a gallon of milk.
Age of the Apartment: The price of an apartment also reflects its age. Malfunctioning appliances, plumbing and heating problems, leaking roofs and other issues are more likely to occur if you rent an older apartment. Although maintenance issues can happen no matter what the age of the building, they’re much less likely to occur if you rent a newer apartment. The style of the apartment also affects its price. Older apartments are less likely to be updated or offer open, modern floor plans and upscale features and finishes.
Features and Amenities: Doing laundry can become a major chore when you live in a building with communal laundry facilities. After you drag your laundry down three flights of steps to the moldy laundry room, you may discover that all of the washers are full or that half of them are broken. Newer apartments are more likely to offer in-unit washers and dryers and other in-demand features and amenities. You’ll pay more if your apartment has a washer, dryer, dishwasher, spacious closets, a gourmet kitchen, private balconies, stainless steel appliances, high-speed WiFi, and central air-conditioning.
Parking: Does the apartment community offer parking, or must you cross your fingers that there will be still a space open on the street at the end of the day? When you’re carrying groceries into your apartment, every step counts. On-site parking can add a little to your monthly rent, but you’ll be happy to have the convenience.
Pets: It’s not easy to find rentals that accept pets. When you find a community that welcomes your furry friends, you’ll probably pay a little more in rent each month and also pay an extra pet deposit when you sign the lease. Keep in mind that the apartment community may limit the number, size or type of pets that can live with you.
Fitness Facilities: After a long day at work, the thought of getting in your car and driving to the gym may not be very appealing. Luckily, many newer apartment buildings offer fitness centers in their complexes. This amenity may increase your rent slightly, but you’ll probably break even when you consider that you won’t have to pay for an expensive gym membership!
Are you looking for a new apartment in Somerset? 745 Hamilton, a brand new Country Classics Community is now accepting applications. The luxurious one- and two-bedroom apartments are located in the heart of Somerset and feature open floor plans, large closets, private balconies, in-unit washers and dryers, elevators, and gourmet kitchens with quartz countertops and stainless steel appliances. Contact us for information on current availability.