Loon Lake 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 Loon Lake is about $983 per month. This puts it in the 45th percentile compared to the state average cost of rent, which is $1,570. Households in Loon Lake have a median income of $5,364 per month so the average renter in Loon Lake is spending roughly 18% of their earnings on housing.
Nationally, and in Loon Lake, home values are the data point most closely correlated with the cost of rent. The median price of a home in Loon Lake is $313,755 right now, which is higher than nearby cities, meaning that rents in Loon Lake also tend to be higher versus these nearby cities.
Higher rent prices are common in the southwestern parts of Loon Lake while lower rent rates are often available in southeastern areas.
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