Summit Lake 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 Summit Lake is about $682 per month. This puts it in the 11th percentile compared to the city average cost of rent, which is $1,045. Households in Summit Lake have a median income of $1,914 per month so the average renter in Summit Lake is spending roughly 36% of their earnings on housing.
Nationally, and in Summit Lake, home values are the data point most closely correlated with the cost of rent. The median price of a home in Summit Lake is $78,983 right now, which is higher than nearby neighborhoods, meaning that rents in Summit Lake also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the northern parts of Summit Lake while lower rent rates are often available in western areas.
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