Ericsson 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 Ericsson is about $1,459 per month. This puts it in the 79th percentile compared to the city average cost of rent, which is $1,366. Households in Ericsson have a median income of $8,246 per month so the average renter in Ericsson is spending roughly 18% of their earnings on housing.
Nationally, and in Ericsson, home values are the data point most closely correlated with the cost of rent. The median price of a home in Ericsson is $301,215 right now, which is higher than nearby neighborhoods, meaning that rents in Ericsson also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the eastern parts of Ericsson while lower rent rates are often available in southeastern areas.
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