Terrace 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 Terrace Park is about $1,645 per month. This puts it in the 99th percentile compared to the state average cost of rent, which is $964. Households in Terrace Park have a median income of $13,009 per month so the average renter in Terrace Park is spending roughly 13% of their earnings on housing.
Nationally, and in Terrace Park, home values are the data point most closely correlated with the cost of rent. The median price of a home in Terrace Park is $475,365 right now, which is higher than nearby cities, meaning that rents in Terrace Park also tend to be higher versus these nearby cities.
Higher rent prices are common in the central parts of Terrace Park while lower rent rates are often available in southwestern areas.
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