Memorial Northwest 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 Memorial Northwest is about $2,247 per month. This puts it in the 99th percentile compared to the city average cost of rent, which is $1,578. Households in Memorial Northwest have a median income of $14,534 per month so the average renter in Memorial Northwest is spending roughly 15% of their earnings on housing.
Nationally, and in Memorial Northwest, home values are the data point most closely correlated with the cost of rent. The median price of a home in Memorial Northwest is $311,722 right now, which is higher than nearby neighborhoods, meaning that rents in Memorial Northwest also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the central parts of Memorial Northwest while lower rent rates are often available in southwestern areas.
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