Five Mile Creek 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 Five Mile Creek is about $985 per month. This puts it in the 26th percentile compared to the city average cost of rent, which is $1,450. Households in Five Mile Creek have a median income of $2,480 per month so the average renter in Five Mile Creek is spending roughly 40% of their earnings on housing.
Nationally, and in Five Mile Creek, home values are the data point most closely correlated with the cost of rent. The median price of a home in Five Mile Creek is $148,406 right now, which is lower than nearby neighborhoods, meaning that rents in Five Mile Creek also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the southeastern parts of Five Mile Creek while lower rent rates are often available in western areas.
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