Loretto 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 Loretto is about $667 per month. This puts it in the 45th percentile compared to the state average cost of rent, which is $856. Households in Loretto have a median income of $4,490 per month so the average renter in Loretto is spending roughly 15% of their earnings on housing.
Nationally, and in Loretto, home values are the data point most closely correlated with the cost of rent. The median price of a home in Loretto is $124,898 right now, which is lower than nearby cities, meaning that rents in Loretto also tend to be lower versus these nearby cities.
Higher rent prices are common in the southern parts of Loretto while lower rent rates are often available in southeastern areas.
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