Severance 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 Severance is about $703 per month. This puts it in the 47th percentile compared to the state average cost of rent, which is $1,000. Households in Severance have a median income of $6,082 per month so the average renter in Severance is spending roughly 12% of their earnings on housing.
Nationally, and in Severance, home values are the data point most closely correlated with the cost of rent. The median price of a home in Severance is $87,279 right now, which is lower than nearby cities, meaning that rents in Severance also tend to be lower versus these nearby cities.
Higher rent prices are common in the central parts of Severance while lower rent rates are often available in northwestern areas.
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