Shannon City 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 Shannon City is about $847 per month. This puts it in the 77th percentile compared to the state average cost of rent, which is $884. Households in Shannon City have a median income of $5,811 per month so the average renter in Shannon City is spending roughly 15% of their earnings on housing.
Nationally, and in Shannon City, home values are the data point most closely correlated with the cost of rent. The median price of a home in Shannon City is $125,036 right now, which is lower than nearby cities, meaning that rents in Shannon City also tend to be lower versus these nearby cities.
Higher rent prices are common in the central parts of Shannon City while lower rent rates are often available in southern areas.
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