Diamond Lake 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 Diamond Lake is about $1,060 per month. This puts it in the 52nd percentile compared to the state average cost of rent, which is $1,570. Households in Diamond Lake have a median income of $6,010 per month so the average renter in Diamond Lake is spending roughly 18% of their earnings on housing.
Nationally, and in Diamond Lake, home values are the data point most closely correlated with the cost of rent. The median price of a home in Diamond Lake is $287,651 right now, which is higher than nearby cities, meaning that rents in Diamond Lake also tend to be higher versus these nearby cities.
Higher rent prices are common in the northern parts of Diamond Lake while lower rent rates are often available in northwestern areas.
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