Average Rent in Michigan

Home » MI

Current Versus Historical Michigan Rents

Michigan rentals average $1,300 for a studio rental to $2,550 for a 4-bedroom rental. The median price of all currently available listings is $1,395, or roughly $1 per square feet.

For the apartment units and housing in April 2024, median rents have risen over the last year. Studio rentals prices have increased by $146 (15.61%) year-over-year from $934 to $1,080. 1-bedroom rentals prices have increased by $58 (5.88%) year-over-year from $992 to $1,050. 2-bedroom rentals prices have increased by $58 (4.79%) year-over-year from $1,217 to $1,275. 3-bedroom rentals prices have increased by $97 (6.45%) year-over-year from $1,498 to $1,595. 4-bedroom rentals prices have increased by $322 (14.28%) year-over-year from $2,253 to $2,575. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 61.92% this month. 1-bedroom rents have gone up by 1.61% this month. 2-bedroom rents have gone up by 2.68% this month. 3-bedroom rents have gone up by 6.45% this month. 4-bedroom rents have gone up by 4.11% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$1.23	$1,080	$934 (15.61%)	$1,208 (-10.56%)
1 BR	$1.32	$1,050	$992 (5.88%)	$893 (17.63%)
2 BR	$1.37	$1,275	$1,217 (4.79%)	$1,087 (17.31%)
3 BR	$1.43	$1,595	$1,498 (6.45%)	$1,304 (22.30%)
4+ BR	$1.25	$2,575	$2,253 (14.28%)	$1,897 (35.76%)

Historical Rents in Michigan

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Michigan

There are a total of 50 cities nearby Michigan. The average rent in Michigan is currently $1,575 per month. A total of 19 cities nearby have an average rent lower than that. Our records show that Toledo, OH, with an average rent of $825, is the most affordable city nearby. In contrast, the most expensive city near Michigan is Margate City, NJ. Monthly rents here are on average $18,000 per month.

Let's compare Michigan's rent against other top cities nearby by bedroom size. Typically, rent for studios in Michigan is 18.00% more expensive than other cities nearby. One bedrooms are about 43.64% more affordable. Two bedrooms in Michigan are about 19.54% more affordable. Finally, rent for three bedrooms are about 7.14% more affordable. Want more information? Check out the top 10 cities out of 50 total cities near Michigan in the following chart.

City	Studio	1 Bed	2 Bed	All
Toledo, OH	$999	$650	$800	$825
Muncie, IN	$598	$695	$800	$850
Lansing, MI	$700	$750	$925	$895
Dayton, OH	$709	$725	$875	$900
Milwaukee, WI	$695	$900	$1,140	$1,000
Detroit, MI	$1,550	$1,225	$1,200	$1,325
Grand Rapids, MI	$1,147	$1,313	$1,395	$1,423
Columbus, OH	$830	$999	$1,300	$1,446
Madison, WI	$1,095	$1,300	$1,650	$1,513
Chicago, IL	$1,350	$1,790	$2,300	$2,045

Top Neighborhoods Near Michigan

There are a total of 94 neighborhoods in or near Michigan. Some of these neighborhoods include North Philadelphia East, North Philadelphia West, and Logan Square. We've included the top 30 neighborhoods out of 94 total neighborhoods in or near Michigan in the following chart.

The average rent for these 30 neighborhoods in or near Michigan is currently around $3,173 per month. A total of one neighborhood has a lower average rent. Meaning, only twenty-nine neighborhoods have a higher average rent than $3,173. Interestingly, the neighborhoods' average rent is higher than Michigan's average rent, which is only $1,395. Out of all the neighborhoods in or near Michigan, Cobbs Creek has the most affordable average rent at $1,325 per month. Whereas, at $13,000 average rent per month, Lower Chelsea is the most expensive neighborhood in or near Michigan. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
North Philadelphia East, Philadelphia, PA	$1,295	$1,445	$1,679	$1,650
North Philadelphia West, Philadelphia, PA	$1,225	$1,420	$1,600	$1,700
Logan Square, Chicago, IL	$1,250	$1,795	$2,000	$1,895
Center City East, Philadelphia, PA	$1,343	$1,900	$2,880	$2,058
Lakeview, Chicago, IL	$1,343	$1,895	$2,590	$2,095
Near North Side, Chicago, IL	$1,835	$2,400	$3,530	$2,600
Washington Heights, New York, NY	$1,975	$2,400	$2,990	$3,149
Flatbush, New York, NY	$2,800	$2,789	$3,150	$3,293
Bedford-Stuyvesant, New York, NY	$2,375	$2,850	$3,150	$3,300
East Harlem, New York, NY	$2,675	$3,056	$3,195	$3,369
Harlem, New York, NY	$2,595	$3,050	$3,300	$3,400
Bushwick, New York, NY	$2,650	$2,799	$3,500	$3,450
West Harlem, New York, NY	$2,650	$3,000	$3,400	$3,500
Upper East Side, New York, NY	$2,900	$3,600	$4,950	$4,000
Prospect Heights, New York, NY	$3,600	$4,425	$6,100	$4,300
Financial District, New York, NY	$3,515	$4,500	$6,410	$4,334
Hell's Kitchen, New York, NY	$3,500	$4,065	$6,095	$4,458
Midtown East, New York, NY	$3,400	$4,200	$5,593	$4,500
East Village, New York, NY	$2,898	$3,600	$4,495	$4,500
Williamsburg, New York, NY	$3,626	$4,509	$4,650	$4,714
Greenwich Village, New York, NY	$4,150	$4,800	$5,075	$4,800
West Village, New York, NY	$4,750	$4,750	$6,750	$4,800
Murray Hill, New York, NY	$3,600	$4,300	$6,598	$4,926
Kips Bay, New York, NY	$3,795	$4,110	$5,308	$4,950
Upper West Side, New York, NY	$3,218	$4,500	$6,993	$4,995
Hudson Yards, New York, NY	$3,750	$4,518	$6,950	$5,062
Chelsea, New York, NY	$4,150	$5,500	$7,905	$5,201
Midtown, New York, NY	$3,607	$4,400	$6,895	$5,500
Gramercy Park, New York, NY	$3,815	$5,185	$5,295	$6,039
Tribeca, New York, NY	$4,250	$5,975	$7,295	$6,895

Top Counties Near Michigan

There are a total of 94 counties located by Michigan. Some of these counties include Toledo, OH, Center, Muncie, IN, and Lansing, MI. The average rent for rentals in these counties is $2,070. That's roughly around $2 per sqft. A total of 12 counties have a lower average rent. The county that is the most affordable is Toledo, OH. It's average rent per month is $825. Vice versa, with an average rent of $35,000, Southampton, NY is the most expensive county by Michigan.

Typically, rent for studios in Michigan is 7.62% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Michigan is 94.51% more affordable than other counties nearby. Finally, rent for two bedrooms in Michigan is 58.63% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Toledo, OH	$999	$650	$800	$825
Center, Muncie, IN	$598	$695	$827	$850
Lansing, MI	$700	$750	$925	$895
Dayton, OH	$709	$725	$875	$900
Milwaukee, WI	$695	$900	$1,140	$1,000
Detroit, MI	$1,550	$1,225	$1,200	$1,325
Grand Rapids, MI	$1,147	$1,313	$1,395	$1,423
Columbus, OH	$830	$999	$1,300	$1,443
Madison, WI	$1,095	$1,300	$1,650	$1,513
Chicago, IL	$1,350	$1,790	$2,300	$2,045

Top Zipcodes Near Michigan

There are a total of 50 zipcodes in or near Michigan. The average rent for all of these zipcodes is $4,241.

The following chart includes the top 10 zipcodes in Michigan. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
10016, New York, NY	$3,695	$4,226	$5,950	$4,798
10003, New York, NY	$3,815	$4,800	$5,150	$4,950
10019, New York, NY	$3,550	$4,206	$6,500	$4,725
10009, New York, NY	$2,625	$3,625	$4,495	$4,500
10128, New York, NY	$3,470	$3,750	$5,450	$3,950
10038, New York, NY	$3,550	$4,500	$6,400	$4,405
10022, New York, NY	$3,350	$4,500	$5,100	$4,500
10005, New York, NY	$3,569	$4,600	$6,410	$4,298
10011, New York, NY	$3,600	$5,799	$6,850	$4,750
10010, New York, NY	$4,050	$4,750	$5,405	$5,346

Frequently Asked Questions - Michigan Average Rents

What is the average rent price in Michigan?

The average monthly rental price for Michigan apartments for rent is approximately $1,395. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Michigan rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Michigan.

How much is a studio apartment in Michigan?

The average monthly rental price for studio apartments is $1,300 and an average price per square feet of $1.23. There are a total of 193 studio apartment listings currently available for rent in Michigan.

How much is a one bedroom apartment in Michigan?

The average monthly rental price for one bedroom apartments is $834 and an average price per square feet of $1.32. There are a total of 448 one bedroom apartment listings currently available for rent in Michigan.

How much is a two bedroom apartment in Michigan?

The average monthly rental price for two bedroom apartments is $1,245 and an average price per square feet of $1.37. There are a total of 921 two bedroom apartment listings currently available for rent in Michigan.

How have rent prices in Michigan changed this year?

Rent prices for rentals in Michigan can fluctuate yearly. Specifically, studio rental prices have changed by 0.16%, one bedroom rental prices have changed by 0.06%, two bedroom rental prices have changed by 0.05%, and three bedroom rental prices have changed by 0.06% year-over-year.

What is a reasonable rent price in Michigan?

A reasonable rent price in Michigan is around $1,116/month. You can search for these reasonably priced rental listings on RentHop.