Park Place 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 Park Place is about $940 per month. This puts it in the 30th percentile compared to the city average cost of rent, which is $1,004. Households in Park Place have a median income of $4,832 per month so the average renter in Park Place is spending roughly 19% of their earnings on housing.
Nationally, and in Park Place, home values are the data point most closely correlated with the cost of rent. The median price of a home in Park Place is $196,282 right now, which is higher than nearby neighborhoods, meaning that rents in Park Place also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the western parts of Park Place while lower rent rates are often available in eastern areas.
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