Colonial Avenue Area 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 Colonial Avenue Area is about $750 per month. This puts it in the 3rd percentile compared to the city average cost of rent, which is $898. Households in Colonial Avenue Area have a median income of $3,366 per month so the average renter in Colonial Avenue Area is spending roughly 22% of their earnings on housing.
Nationally, and in Colonial Avenue Area, home values are the data point most closely correlated with the cost of rent. The median price of a home in Colonial Avenue Area is $324,257 right now, which is higher than nearby neighborhoods, meaning that rents in Colonial Avenue Area also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the northern parts of Colonial Avenue Area while lower rent rates are often available in southern areas.
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