Smith Island 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 Smith Island is about $1,005 per month. This puts it in the 19th percentile compared to the state average cost of rent, which is $1,646. Households in Smith Island have a median income of $3,061 per month so the average renter in Smith Island is spending roughly 33% of their earnings on housing.
Nationally, and in Smith Island, home values are the data point most closely correlated with the cost of rent. The median price of a home in Smith Island is $114,800 right now, which is lower than nearby cities, meaning that rents in Smith Island also tend to be lower versus these nearby cities.
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