Monument 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 Monument is about $1,297 per month. This puts it in the 97th percentile compared to the state average cost of rent, which is $961. Households in Monument have a median income of $4,248 per month so the average renter in Monument is spending roughly 31% of their earnings on housing.
Nationally, and in Monument, home values are the data point most closely correlated with the cost of rent. The median price of a home in Monument is $159,401 right now, which is lower than nearby cities, meaning that rents in Monument also tend to be lower versus these nearby cities.
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