New England 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 New England is about $700 per month. This puts it in the 55th percentile compared to the state average cost of rent, which is $890. Households in New England have a median income of $5,450 per month so the average renter in New England is spending roughly 13% of their earnings on housing.
Nationally, and in New England, home values are the data point most closely correlated with the cost of rent. The median price of a home in New England is $138,186 right now, which is lower than nearby cities, meaning that rents in New England also tend to be lower versus these nearby cities.
Higher rent prices are common in the northwestern parts of New England while lower rent rates are often available in eastern areas.
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