Rentable.co has 9 apartments available for rent in 48213.
The average rent for an apartment in 48213 is around $1,200 per month.
Welcome to the December 2024 Detroit Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2024 key findings and figures for the Detroit rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Detroit and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Detroit average rent prices in the chart below.
Detroit rent prices decreased over the last month. From November to December, the city experienced a -0.14% decrease for the price of a one-bedroom apartment. The rent price for a Detroit one-bedroom apartments currently stands at $1,420.0.
When we take a look at the two-bedroom comparison from November to December, Detroit experienced a -0.71% decrease for the price of a two-bedroom apartment. The rent price for a Detroit two-bedroom apartments currently stands at $1,254.0.
Rent prices have decreased in Detroit over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Detroit suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Royal Oak, MI, Troy, MI, Dearborn, MI .
Rent decreased in Farmington Hills, MI, Clinton Township, MI, Southfield, MI, Madison Heights, MI.
7 suburbs are currently priced lower than the city of Detroit.
Rent growth in Detroit over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Detroit average rent prices appear to be relatively affordable for local residents.
The price for a Detroit one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
For more information about Detroit and surrounding area rent prices, take a look at the complete data set below.
| 1 BR December | 1 BR M/M % Change | 2 BR December | 2 BR M/M % Change | |
|---|---|---|---|---|
| Detroit, MI | $1,422.0 | -0.56% | $1,263.0 | -0.16% |
| Farmington Hills, MI | $1,135.0 | -0.79% | $1,622.0 | 0.37% |
| Clinton Township, MI | $1,196.0 | -0.83% | $1,414.0 | 0.28% |
| Southfield, MI | $1,036.0 | -5.22% | $1,611.0 | 0.06% |
| Madison Heights, MI | $1,010.0 | 0.00% | $1,191.0 | -1.33% |
| Royal Oak, MI | $1,394.0 | 3.26% | $1,659.0 | 0.61% |
| Troy, MI | $1,356.0 | 3.67% | $1,568.0 | 6.16% |
| Dearborn, MI | $1,356.0 | 0.15% | $1,737.0 | -0.06% |
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.