The national average cost per square foot to construct an apartment building is $398. Thus, a complex with 100 apartments of average size would cost around $37 million to build. However, this price is affected by a number of elements, including the design’s intricacy, the level of finish, and, perhaps most significantly, the location where building is taking place.
How much does it cost to construct an apartment complex?
Using mid-range materials, a standard foundation with full basement, energy-efficient doors and windows, all appliances, and ‘turnkey’ finishing would cost between $64,575 and $86,100 per unit, excluding site purchase. The foregoing statistics place the square foot cost of this building between $85 and $200.
You may not have the tens of thousands of dollars necessary to purchase your own apartment building, but if you join a real estate crowdfunding platform, you can join forces with thousands of other investors to create a large investment fund capable of purchasing shopping malls or apartment complexes.
How much do apartment utilities cost?
Brief Information Regarding Apartment Utility Bills – According to Energy.gov, the average apartment tenant pays between $150 and $200 per month for heating, cooling, and electricity. In the majority of instances, landlords include the water and trash payment in the rent.
Here are the Vancouver apartment rental premiums compared to the rest of Canada. This month, Vancouverites seeking to relocate may not discover a large number of cheap rental alternatives., an online apartment rental company, has published its March 2022 National Rent Rankings based on data from its monthly postings. This month, the average cost to rent a one-bedroom apartment in Vancouver is $2,239, a 3.51 percent rise from last month and an astounding 14.7 percent increase since March 2021. The average cost of a two-bedroom apartment is $3,050, a rise of 1.57 percent since February but a staggering 17.62 percent since last year.
Toronto is the second-most costly housing market in the country, with one-bedroom homes average $2,044 and two-bedroom ones costing $2,774. Burnaby, another city in British Columbia, has the third most expensive rental market, with one-bedroom flats average $1,979 and two-bedroom ones asking for $2,398.
Photo courtesy rentals.ca