Keweenaw Bay 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 Keweenaw Bay is about $531 per month. This puts it in the 2nd percentile compared to the state average cost of rent, which is $1,036. Households in Keweenaw Bay have a median income of $4,184 per month so the average renter in Keweenaw Bay is spending roughly 13% of their earnings on housing.
Nationally, and in Keweenaw Bay, home values are the data point most closely correlated with the cost of rent. The median price of a home in Keweenaw Bay is $131,800 right now, which is higher than nearby cities, meaning that rents in Keweenaw Bay also tend to be higher versus these nearby cities.
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