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Detroit apartment rents up 15 percent annually for March

A new report shows median one- and two-bedroom rents rose sharply since March 2018

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The median rents for one- and two-bedroom apartments in Detroit were each up at least 15 percent from March 2018 to March 2019, according to a recent report from real estate listings site Zumper.

The report tracked vacant and available units as of the end of February, so it is a pretty good gauge of where the market is at.

And where it’s at is markedly more expensive than this time last year. The one-bedroom median for Detroit was up 15.1 percent annually, to $610 a month, and the two-bedroom median was up 15 percent, to $690.

The good news for tenants is that both sums were down slightly from the month before. See the chart below. And Detroit’s rents do place the city squarely among the nation’s more affordable major cities for renting.

In fact, among the 100 cities that Zumper surveyed, Detroit was tied with Wichita for 98th most expensive.

What are you seeing rent-wise right now?