Mill Shoals 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 Mill Shoals is about $657 per month. This puts it in the 22nd percentile compared to the state average cost of rent, which is $1,235. Households in Mill Shoals have a median income of $4,686 per month so the average renter in Mill Shoals is spending roughly 14% of their earnings on housing.
Nationally, and in Mill Shoals, home values are the data point most closely correlated with the cost of rent. The median price of a home in Mill Shoals is $68,513 right now, which is lower than nearby cities, meaning that rents in Mill Shoals also tend to be lower versus these nearby cities.
Higher rent prices are common in the northeastern parts of Mill Shoals while lower rent rates are often available in central areas.
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