Arctic renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Arctic is about $1,004 per month. This puts it in the 22nd percentile compared to the city average cost of rent, which is $1,219. Households in Arctic have a median income of $4,100 per month so the average renter in Arctic is spending roughly 24% of their earnings on housing.
Nationally, and in Arctic, home values are the data point most closely correlated with the cost of rent. The median price of a home in Arctic is $193,226 right now, which is lower than nearby neighborhoods, meaning that rents in Arctic also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the northern parts of Arctic while lower rent rates are often available in southern areas.
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