San Luis Obispo 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 San Luis Obispo is about $1,779 per month. This puts it in the 71st percentile compared to the state average cost of rent, which is $1,958. Households in San Luis Obispo have a median income of $5,644 per month so the average renter in San Luis Obispo is spending roughly 32% of their earnings on housing.
Nationally, and in San Luis Obispo, home values are the data point most closely correlated with the cost of rent. The median price of a home in San Luis Obispo is $702,241 right now, which is lower than nearby cities, meaning that rents in San Luis Obispo also tend to be lower versus these nearby cities.
Higher rent prices are common in the northeastern parts of San Luis Obispo while lower rent rates are often available in eastern areas.
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