Penasco 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 Penasco is about $849 per month. This puts it in the 70th percentile compared to the state average cost of rent, which is $961. Households in Penasco have a median income of $3,113 per month so the average renter in Penasco is spending roughly 27% of their earnings on housing.
Nationally, and in Penasco, home values are the data point most closely correlated with the cost of rent. The median price of a home in Penasco is $160,789 right now, which is higher than nearby cities, meaning that rents in Penasco also tend to be higher versus these nearby cities.
Higher rent prices are common in the northern parts of Penasco while lower rent rates are often available in eastern areas.
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