Lake Murray 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 Lake Murray is about $1,824 per month. This puts it in the 45th percentile compared to the city average cost of rent, which is $2,110. Households in Lake Murray have a median income of $7,291 per month so the average renter in Lake Murray is spending roughly 25% of their earnings on housing.
Nationally, and in Lake Murray, home values are the data point most closely correlated with the cost of rent. The median price of a home in Lake Murray is $419,001 right now, which is lower than nearby neighborhoods, meaning that rents in Lake Murray also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the northeastern parts of Lake Murray while lower rent rates are often available in northwestern areas.
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