Lakeview Terrace 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 Lakeview Terrace is about $1,294 per month. This puts it in the 94th percentile compared to the city average cost of rent, which is $1,160. Households in Lakeview Terrace have a median income of $7,852 per month so the average renter in Lakeview Terrace is spending roughly 16% of their earnings on housing.
Nationally, and in Lakeview Terrace, home values are the data point most closely correlated with the cost of rent. The median price of a home in Lakeview Terrace is $275,283 right now, which is higher than nearby neighborhoods, meaning that rents in Lakeview Terrace also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the southwestern parts of Lakeview Terrace while lower rent rates are often available in eastern areas.
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