Peninsula 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 Peninsula is about $937 per month. This puts it in the 76th percentile compared to the state average cost of rent, which is $964. Households in Peninsula have a median income of $5,650 per month so the average renter in Peninsula is spending roughly 17% of their earnings on housing.
Nationally, and in Peninsula, home values are the data point most closely correlated with the cost of rent. The median price of a home in Peninsula is $320,587 right now, which is higher than nearby cities, meaning that rents in Peninsula also tend to be higher versus these nearby cities.
Higher rent prices are common in the western parts of Peninsula while lower rent rates are often available in southeastern areas.
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