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Detroit Metro Report: August 2019

The Zumper Detroit Metro Report analyzed active listings in July 2019 across 10 metro cities to show the most and least expensive cities and cities with the fastest growing rents. The Michigan state median one bedroom Rent was $844 last month.

Cities Ranked By Rent

The Most Expensive

–Troy, MI continued to rank as the most expensive city with one bedrooms priced at $1,210.

–Dearborn, MI moved up one spot to become the second priciest city with rent growing $10 to $1,190.

–Novi, MI dropped to third with rent falling $30 to $1,170.

The Least Expensive

–Detroit, MI remained the most affordable city with rent at $610.

–Pontiac, MI was second with one bedrooms priced at $690.

–Taylor, MI ranked as third with rent at $740.

Growth Rate

The Fastest Growing (Y/Y%)

–Livonia, MI had the fastest growing rent again, climbing 13.4% since this time last year.

–Dearborn, MI saw rent shoot up 10.2%, making it second.

–Warren, MI rent had the third largest year over year growth rate, up 10.1%.

Full Data

  1 Bedroom  2 Bedrooms  
Pos.CityPriceM/M %Y/Y %PriceM/M %Y/Y %
1Troy$1,2100.00%3.40%$1,4600.00%2.80%
2Dearborn$1,1900.80%10.20%$1,3000.00%9.20%
3Novi$1,170-2.50%-4.10%$1,560-0.60%7.60%
4Livonia$1,1000.00%13.40%$1,1800.00%-0.80%
5Farmington Hills$950-5.00%1.10%$1,3301.50%3.90%
5Southfield$9501.10%4.40%$1,2501.60%-6.00%
7Warren$7600.00%10.10%$9200.00%-1.10%
8Taylor$7400.00%8.80%$8604.90%-2.30%
9Pontiac$6900.00%9.50%$8000.00%-3.60%
10Detroit$6100.00%1.70%$6900.00%0.00%

About

The Zumper Detroit Metro Report analyzed active listings that hit the market last month. Listings are aggregated by city to calculate median asking rents.

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The post Detroit Metro Report: August 2019 appeared first on The Zumper Blog.



This post first appeared on The Zumper Blog | Rental Market Trends, Real Estat, please read the originial post: here

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Detroit Metro Report: August 2019

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