South West 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 South West is about $1,646 per month. This puts it in the 27th percentile compared to the city average cost of rent, which is $1,986. Households in South West have a median income of $7,972 per month so the average renter in South West is spending roughly 21% of their earnings on housing.
Nationally, and in South West, home values are the data point most closely correlated with the cost of rent. The median price of a home in South West is $564,327 right now, which is lower than nearby neighborhoods, meaning that rents in South West also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the southern parts of South West while lower rent rates are often available in southeastern areas.
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