Average Rent in Michigan

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Current Versus Historical Michigan Rents

Michigan rentals average $1,600 for a studio rental to $3,000 for a 4-bedroom rental. The median price of all currently available listings is $1,875, or roughly $1 per square feet.

For the apartment units and housing in November 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $313 (32.58%) year-over-year from $962 to $1,275. 1-bedroom rentals prices have increased by $561 (57.13%) year-over-year from $982 to $1,543. 2-bedroom rentals prices have increased by $670 (54.47%) year-over-year from $1,230 to $1,900. 3-bedroom rentals prices have increased by $408 (27.37%) year-over-year from $1,492 to $1,900. 4-bedroom rentals prices have increased by $202 (7.47%) year-over-year from $2,698 to $2,900. 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 6.56% this month. 1-bedroom rents have gone up by 1.24% this month. 2-bedroom rents have gone up by 26.67% this month. 3-bedroom rents have gone up by 8.67% this month. 4-bedroom rents have gone down by 3.33% this month.

Beds	Price / Sqft	Nov 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$2.94	$1,275	$962 (32.58%)	$1,377 (-7.38%)
1 BR	$1.82	$1,543	$982 (57.13%)	$942 (63.81%)
2 BR	$1.51	$1,900	$1,230 (54.47%)	$1,116 (70.28%)
3 BR	$1.38	$1,900	$1,492 (27.37%)	$1,340 (41.83%)
4+ BR	$1.37	$2,900	$2,698 (7.47%)	$2,765 (4.88%)

Historical Rents in Michigan

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Michigan

There are a total of 48 cities nearby Michigan. The average rent in Michigan is currently $2,475 per month. A total of 14 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 Hampton Bays, NY. Monthly rents here are on average $20,000 per month.

Let's compare Michigan's rent against other top cities nearby by bedroom size. Typically, rent for studios in Michigan is 15.70% more expensive than other cities nearby. One bedrooms are about 21.52% more affordable. Two bedrooms in Michigan are about 26.43% more affordable. Finally, rent for three bedrooms are about 41.25% more affordable. Want more information? Check out the top 10 cities out of 48 total cities near Michigan in the following chart.

City	Studio	1 Bed	2 Bed	All
Toledo, OH	N/A	$660	$800	$825
Scranton, PA	$400	$1,100	$1,250	$1,325
Allentown, PA	$1,300	$1,200	$1,495	$1,500
Buffalo, NY	$900	$1,225	$1,695	$1,600
Pittsburgh, PA	$800	$1,415	$1,600	$1,695
Chicago, IL	$1,356	$1,799	$2,200	$2,100
Schaumburg, IL	N/A	$2,167	$2,250	$2,250
Aurora, IL	N/A	$1,550	$2,196	$2,450
Naperville, IL	N/A	$1,850	$2,200	$2,640
Evanston, IL	$1,853	$2,250	$2,748	$2,795

Top Neighborhoods Near Michigan

There are a total of 109 neighborhoods in or near Michigan. Some of these neighborhoods include Rogers Park, Logan Square, and Lakeview. We've included the top 30 neighborhoods out of 109 total neighborhoods in or near Michigan in the following chart.

The average rent for these 30 neighborhoods in or near Michigan is currently around $3,000 per month. A total of 20 neighborhoods have a lower average rent. Meaning, only ten neighborhoods have a higher average rent than $3,000. Interestingly, the neighborhoods' average rent is higher than Michigan's average rent, which is only $1,875. Out of all the neighborhoods in or near Michigan, Terry Sanford has the most affordable average rent at $1,323 per month. Whereas, at $9,995 average rent per month, SoHo is the most expensive neighborhood in or near Michigan. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Rogers Park, Chicago, IL	$1,200	$1,550	$1,875	$1,650
Logan Square, Chicago, IL	$1,548	$1,700	$2,163	$2,250
Lakeview, Chicago, IL	$1,500	$1,838	$2,593	$2,395
Near North Side, Chicago, IL	$1,728	$2,300	$3,750	$2,950
Flatbush, New York, NY	$2,635	$2,850	$3,150	$3,000
Bedford-Stuyvesant, New York, NY	$2,200	$2,800	$3,295	$3,200
East Harlem, New York, NY	$2,848	$2,985	$3,195	$3,200
Bushwick, New York, NY	$2,679	$3,000	$3,207	$3,300
Harlem, New York, NY	$2,663	$2,850	$3,350	$3,400
West Harlem, New York, NY	$2,675	$2,750	$3,397	$3,500
Upper East Side, New York, NY	$3,263	$3,900	$5,115	$4,000
Long Island City, New York, NY	$3,200	$3,895	$5,870	$4,047
Murray Hill, New York, NY	$3,425	$4,250	$6,500	$4,075
Hell's Kitchen, New York, NY	$3,499	$3,863	$5,178	$4,090
Financial District, New York, NY	$3,450	$4,498	$6,338	$4,279
Prospect Heights, New York, NY	$3,550	$4,495	$6,009	$4,390
Hudson Yards, New York, NY	$3,590	$4,493	$6,585	$4,490
East Village, New York, NY	$2,995	$3,795	$4,495	$4,495
Midtown East, New York, NY	$3,375	$4,400	$5,995	$4,495
Kips Bay, New York, NY	$3,595	$4,250	$5,403	$4,530
Williamsburg, New York, NY	$3,850	$4,599	$5,200	$4,800
Greenwich Village, New York, NY	$4,125	$5,525	$7,900	$4,850
Upper West Side, New York, NY	$3,295	$4,461	$7,250	$4,950
Lower East Side, New York, NY	$3,413	$4,350	$4,765	$4,990
Midtown, New York, NY	$3,611	$4,298	$6,600	$5,000
West Village, New York, NY	$4,195	$5,100	$6,750	$5,095
Little Italy, New York, NY	$3,250	$4,500	$4,400	$5,273
Chelsea, New York, NY	$3,895	$5,660	$7,995	$5,490
Gramercy Park, New York, NY	$3,693	$5,500	$4,995	$5,495
NoMad, New York, NY	$4,329	$5,686	$8,352	$5,801

Top Counties Near Michigan

There are a total of 109 counties located by Michigan. Some of these counties include Scranton, PA, Allentown, PA, and Buffalo, NY. The average rent for rentals in these counties is $2,773. That's roughly around $2 per sqft. A total of 11 counties have a lower average rent. The county that is the most affordable is Cross Creek, Fayetteville, NC. It's average rent per month is $1,285. 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 8.95% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Michigan is 41.48% more affordable than other counties nearby. Finally, rent for two bedrooms in Michigan is 36.57% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Scranton, PA	$400	$1,100	$1,250	$1,325
Allentown, PA	$1,300	$1,200	$1,495	$1,500
Buffalo, NY	$900	$1,225	$1,695	$1,600
Pittsburgh, PA	$800	$1,415	$1,600	$1,695
Chicago, IL	$1,356	$1,799	$2,200	$2,100
9, MD	N/A	$1,822	$2,200	$2,500
Evanston, IL	$1,853	$2,250	$2,748	$2,795
Sully, VA	$1,558	$1,950	$2,400	$2,985
Dulles, VA	N/A	$1,895	$2,375	$3,200
7, MD	$2,160	$2,607	$3,550	$3,500

Top Zipcodes Near Michigan

There are a total of 34 zipcodes in or near Michigan. The average rent for all of these zipcodes is $2,143. A total of 7 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19131, Philadelphia, PA at $1,450 per month. In comparison, the zipcode with the most expensive average rent of $4,800 per month is 10280, New York, NY.

Studios in these zipcodes have an average rent of $1,043. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Michigan is $1,538 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,889 per month. Which comes out to $2 per sqft. 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
10128, New York, NY	$3,318	$4,000	$5,048	$3,995
10023, New York, NY	$3,385	$4,950	$8,250	$4,696
19104, Philadelphia, PA	$1,195	$1,425	$1,719	$1,700
60618, Chicago, IL	$1,650	$1,695	$2,000	$2,000
60615, Chicago, IL	$1,150	$1,525	$1,895	$2,122
22201, Arlington, VA	$2,101	$2,346	$3,400	$2,545
11375, New York, NY	$2,645	$3,000	$3,445	$3,150
28208, Charlotte, NC	N/A	$1,400	$1,550	$1,800
10035, New York, NY	$2,390	$2,700	$3,275	$2,850
27519, Cary, NC	N/A	$1,527	$2,043	$2,350

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 $1,875. 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 $1,600 and an average price per square feet of $2.94. There are a total of 3 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 $1,350 and an average price per square feet of $1.82. There are a total of 73 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 $1,750 and an average price per square feet of $1.51. There are a total of 147 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 0.33%, one bedroom rental prices have changed by 0.57%, two bedroom rental prices have changed by 0.54%, and three bedroom rental prices have changed by 0.27% year-over-year.

What is a reasonable rent price in Michigan?

A reasonable rent price in Michigan is around $1,500/month. You can search for these reasonably priced rental listings on RentHop.