The cost to rent a home in Nicaragua depends very much on where that home is located. If you live in Managua, it will be more than if you live in a little town.
When we were building the hotel in Masatepe, in the Pueblos Blancos area (out towards the country, about 35 - 40 minutes from Granada), I rented a nice little three bedroom, two bathroom house nearby that cost me US $250 / month. That same house now would rent for approximately $400 / month. In the same area there are quite a few big houses with four bedrooms and four bathrooms that are for rent for around $500 / month.
In Managua, the same house may rent for three times as much or more, perhaps up to $2,000 / month. In Granada, it may rent for $1,000 to $1,200 per month. In Leon, it would probably rent for about the same as Granada. In San Juan del Sur, it’s difficult to know, because many of the houses are rented to tourists.
Of course, if you’re in one of the Pacific beach areas or in other parts of Nicaragua in general, the price to rent a house varies widely depending on if you are in a gate-guarded community or in the local town.