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Detroit's Rental Market Ranks as Nation's 49th Most Expensive

While ranking as one of the most affordable Metro areas in the nation, Detroit's rent continues to grow monthly as well as yearly. According to real estate research website Zumper's December 2015 National Rent Report, Detroit's median rent is $530 for a one-bedroom unit and $650 for a two-bedroom unit. Month over month, the price of a one-bedroom rose by 1.9 percent, while rising 1.9 percent year over year. For a two-bedroom, the price rose 3.2 percent month over month and 8.3 percent year over year. The Metro area that topped Zumper's report with the priciest rents was San Francisco, followed by New York and then Boston. The report analyzes data from over one million active listings and is aggregated on a monthly basis. To see the full report, you can check it out here.
· National Rent Report: December 2015 [Zumper]