Laurium 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 Laurium is about $511 per month. This puts it in the 2nd percentile compared to the state average cost of rent, which is $1,036. Households in Laurium have a median income of $3,450 per month so the average renter in Laurium is spending roughly 15% of their earnings on housing.
Nationally, and in Laurium, home values are the data point most closely correlated with the cost of rent. The median price of a home in Laurium is $81,864 right now, which is lower than nearby cities, meaning that rents in Laurium also tend to be lower versus these nearby cities.
Higher rent prices are common in the southeastern parts of Laurium while lower rent rates are often available in southwestern areas.
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