Historic Midtown 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 Historic Midtown is about $700 per month. This puts it in the 2nd percentile compared to the city average cost of rent, which is $1,011. Households in Historic Midtown have a median income of $3,183 per month so the average renter in Historic Midtown is spending roughly 22% of their earnings on housing.
Nationally, and in Historic Midtown, home values are the data point most closely correlated with the cost of rent. The median price of a home in Historic Midtown is $87,552 right now, which is lower than nearby neighborhoods, meaning that rents in Historic Midtown also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the southwestern parts of Historic Midtown while lower rent rates are often available in eastern areas.
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