Velpen 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 Velpen is about $838 per month. This puts it in the 60th percentile compared to the state average cost of rent, which is $960. Households in Velpen have a median income of $4,646 per month so the average renter in Velpen is spending roughly 18% of their earnings on housing.
Nationally, and in Velpen, home values are the data point most closely correlated with the cost of rent. The median price of a home in Velpen is $133,977 right now, which is lower than nearby cities, meaning that rents in Velpen also tend to be lower versus these nearby cities.
Higher rent prices are common in the northeastern parts of Velpen while lower rent rates are often available in southern areas.
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