Northwood Hills 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 Northwood Hills is about $1,428 per month. This puts it in the 59th percentile compared to the city average cost of rent, which is $1,523. Households in Northwood Hills have a median income of $4,772 per month so the average renter in Northwood Hills is spending roughly 30% of their earnings on housing.
Nationally, and in Northwood Hills, home values are the data point most closely correlated with the cost of rent. The median price of a home in Northwood Hills is $173,427 right now, which is lower than nearby neighborhoods, meaning that rents in Northwood Hills also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the northwestern parts of Northwood Hills while lower rent rates are often available in northeastern areas.
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