Coming ahead of Akron and Lubbock, Detroit was the 97th most expensive rental market in the nation. One bedroom rent stayed stable last month at $610, while two bedrooms dropped 1.4% to $680. Notably, on a year over year basis, one bedroom rent is up over 15%.
(Note: this map is interactive so use the zoom feature and hover over the legend for more info)
While University and Jeffries had the fastest growing rents last quarter, up 14% and 12%, respectively, Bagley and Rosa Parks saw the largest rent dips, both down over 14%.
Downtown Detroit ($1,025), which encompasses Central Business District, Lower East Central, and Near East Riverfront on our map, continued to reign as the most expensive area to rent. University ($1,000), Jeffries ($925), and Corktown ($900) followed closely behind as the next priciest areas. Mid-range priced rentals, for about the median one bedroom rent in Detroit, could be found in Redford, Brightmoor, et Chene.
Meanwhile, the most affordable neighborhoods, both priced at $410, were Greenfield and Rosa Parks.
If you want to see how Detroit’s rent compares with the rest of the nation’s, check out our National Rent Report for July, which analyzes over 1 million active listings available in the prior month.
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For a more in-depth look into how and why we calculate our rental data, check out our methodology post ici.
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