Sherman Park 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 Sherman Park is about $974 per month. This puts it in the 52nd percentile compared to the city average cost of rent, which is $1,108. Households in Sherman Park have a median income of $2,798 per month so the average renter in Sherman Park is spending roughly 35% of their earnings on housing.
Nationally, and in Sherman Park, home values are the data point most closely correlated with the cost of rent. The median price of a home in Sherman Park is $70,604 right now, which is lower than nearby neighborhoods, meaning that rents in Sherman Park also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the central parts of Sherman Park while lower rent rates are often available in northeastern areas.
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