The cost of living index for Essex is on par with the median for the rest of Maryland, and 25 percent above the national median. Rental housing prices in some parts of Maryland are right up there with the highest in the nation, but the good news for those looking for an apartment in Essex is that the median rental rate here is almost 30 percent lower than the Maryland median. Also, the owner-occupied percentage here is not as much as that of most cities, with almost half of the residential property renter-occupied. Some cities have as much as a 92 percent owner-occupancy.
One thing to note is that a high renter occupancy does not automatically translate to a high number of available rental properties. This is definitely the case in Essex, with a low 4 percent rental vacancy level. A low rental vacancy in any community puts more pressure on renters who have to work harder to find good rental property. Fortunately, we have some tips to help improve your chances of finding a sweet piece of Essex to call your own.
Features and Amenities Make a list of all of the features and amenities you prefer in an apartment. For instance, some rental packages include utilities like electricity, water, and gas in the rent, meaning you don’t have to pay for one or two of those utilities. Such a perk adds up when you calculate how much you’ve saved on gas, electric, and water bills at the end of each payment cycle. Other amenities and features provided by certain apartments include perks like a fitness center, wheelchair access, a pool, and a fully (or partly) furnished apartment. An apartment that comes with basics like a microwave oven, refrigerator, carpeting, dishwasher, gas cooker, and even a television, will save you some money in furnishing.
Parking The availability of parking on the apartment premises, such as a parking lot or garage, can also serve as a deal breaker for some people. One of the things that might influence your choice of rental property might include whether or not you will have a parking spot when you move into the apartment.
What you Need Most of the landlords, or rental managers, in Essex will ask you to fill out a rental application, require a security deposit, and will also carry out a credit check. You will also need to pay the first month’s rent, and provide proof of income, usually your paystubs or other evidence of steady income.
Hyde Park: Let’s start with the most expensive neighborhood in Essex. The rental housing here is definitely two, or even three times more than some of the other neighborhoods in the community. Most of the residential homes here are single-family units, row houses, attached homes, and townhomes. The reason for the relative high cost is mainly because Hyde Park is a waterfront neighborhood, with stunning scenery, and a resort-like atmosphere that attracts lots of visitors.
Town Center: This is a very affordable part of town, with studios, one to four bedroom single-family homes, and townhouses.
Middlesex: Rental prices here fall into the median for Essex, with single-family homes, and townhomes.
The most striking thing about living in Essex is the effect the close proximity of the community to water has on the area. This means lots of water-skiing, fishing, laying in the sun by the beach, fresh seafood, and, of course, tourists! The drawback is the long commute to work, as much as 31 minutes. Even though most of the residents in Essex have their own private automobile, a significant percentage still make use of public transportation. We wish much success in your search for an apartment in Essex!