University Area 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 University Area is about $1,359 per month. This puts it in the 33rd percentile compared to the city average cost of rent, which is $1,448. Households in University Area have a median income of $6,799 per month so the average renter in University Area is spending roughly 20% of their earnings on housing.
Nationally, and in University Area, home values are the data point most closely correlated with the cost of rent. The median price of a home in University Area is $282,009 right now, which is higher than nearby neighborhoods, meaning that rents in University Area also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the northern parts of University Area while lower rent rates are often available in southwestern areas.
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