My area of choice is Irving, Texas. My evaluation shall be based on a one bedroom apartment. The cost of renting apartments across this area will vary depending on various factors, some of which include the location of the apartment, how pet friendly it is, and the amenities available (e.g. swimming pool, fitness center, high speed internet, etc.).
The ten apartments that I shall evaluate are: Archstone at MacArthur Apartments (located on 1100 Hidden Ridge Road), Lincoln Lakeside (on 6727 Deseo), Huntington Ridge Apartments (situated at 4220 Esters Road), Hillcrest Apartments (located on 3149 West Walnut Hill Lane), Tuscan Villas Apartments (located on 6445 Love Dr), Delano Apartments (located on 1001 Lake Carolyn Parkway).
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Lofts at Las Colinas Apartments (located on 1050 Lake Carolyn Parkway), Glen Arbor Apartments (located on 4003 N Belt Line Rd), and Surrey Oaks I and Surrey Oaks II Apartments (both located on 1814 Estrada Parkway) (MyNewPlace, 2008).
Standard amenities across all these apartments include a pool, spa, package receiving, storage space, a fitness center, a BBQ/Picnic area, and on-site maintenance. For a standard one bedroom house, Archstone at MacArthur charges an average rate of $845. In addition to these amenities, the location of Archstone at MacArthur is ideal. Situated in the heart of Las Colinas, it is sandwiched between shopping malls and restaurants.
Las Colinas’ central location between Dallas and Fort Worth and its proximity to the DFW Airport has made it a magnet for the offices of corporate bodies, and also boasts of luxury hotels, country clubs, exclusive resorts and luxurious mansions. This has made it a prestigious address both for up market homes and offices and it remains a planned community. In addition, pets are also allowed (MyNewPlace, 2008).
Lincoln Lakeside Apartments, in La Villita, San Antonio, charge much more than Archstone at MacArthur Apartments.
At $930, these apartments however offer more amenities. In addition to the amenities offered by Archstone at MacArthur Apartments, Lincoln Lakeside also offers high speed internet, a sundeck, a business center, and a clubhouse. These extra facilities would help explain the higher rates charged.
Like the Las Colinas, La Villita is a planned community, located on the eastern banks of the San Antonio River, and is served by a large number of shops, galleries and restaurants. It is in the Central Loop (“downtown San Antonio”) area which is bound by Interstates 35, 37 and the US highway 90, which run around it (MyNewPlace, 2008).
Lofts at Las Colinas Apartments charge even more. At $1, 219 for a one bedroom apartment, it is one of the most expensive addresses in Irving. However, it offers much more in the way of both amenities and location than either Lincoln Lakeside or Archstone at MacArthur.
In addition to the standard facilities and in addition to high speed internet, a sundeck, a business center and a clubhouse, Lofts at Las Colinas Apartments offer controlled access, a courtyard, night patrol, a rec room, and elevators.
In addition, it offers access to four major freeways, is located at the heart of the Los Colinas CBD, and fronts the promenade of the Lake Carolyn. It restricts some breeds of pets and as a matter of policy allows a maximum of only two pets (MyNewPlace, 2008).
In contrast, apartments such as Surrey Oaks 1 Apartments which have only the standard amenities cost much, much lower. At Surrey Oaks 1, one would pay an average of only $450.
Surrey Oaks II, with the only extra feature being night time patrols, go for a comparable rate of $470. Glen Arbor Apartments, which have similar amenities and no extras, go for only $489. Hillcrest Apartments have even fewer amenities and charge only $480 for a one bedroom apartment. At $535, Huntington Ridge Apartments throw in an extra benefit in the form of night patrols (MyNewPlace, 2008).
At an average rate of $979 for a one bedroom apartment, Delano Apartments are also considered upscale. Reflective of the rates are the extra amenities that the apartments offer. In addition to the standard facilities that one would find in Surrey Oaks for example, Delano Apartments also offer concierge services, a sundeck, elevators, high speed internet, a courtyard, a rec room, a clubhouse, and a business center.
Like the Delano Apartments, Tuscan Hill Villas Apartments also charge premium rates for more top-of-the-class amenities. At $935 a month for a one bedroom apartment, the apartments have all the facilities that upscale apartments such as Delano, Lofts at Las Colinas, and Lincoln Lakeside Apartments offer (MyNewPlace, 2008).
An examination of the location also shows that homes that are considered upscale (more luxurious and comfortable) charge higher rates. This explains why the exclusive Lofts at Las Colinas is almost two times as expensive as Surrey Oaks 1. Those with more amenities are more expensive.
That explains why Delano is much more costly than Hillcrest. Those apartments which are located close to transit systems, in downtown locations, or close to shopping malls charge relatively higher rates than those which are not.
Lofts at Las Colinas’ close proximity to the downtown of both Dallas and Fort Worth has certainly also contributed to the princely sum of $1,219 that it charges for a one bedroom apartment. Areas that charge more than $900 are considered upscale (MyNewPlace, 2008).
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