13 Apartments under 500 for rent in Detroit, MI

Last updated May 24 at 5:46pm UTC
1152 Holcomb St
Foch
Detroit, MI
Updated May 24 at 5:46pm UTC
Studio
$400
1160 Holcomb St
Foch
Detroit, MI
Updated April 28 at 1:55am UTC
Studio
$475
12927 Plymouth, 10
Mackenzie
Detroit, MI
Updated April 10 at 11:50am UTC
1 Bedroom
$440
4780 Wayburn St
Finney
Detroit, MI
Updated March 26 at 11:30am UTC
1 Bedroom
$450
17200 W TEN MILE Road
Southfield
Southfield, MI
Updated May 16 at 11:38pm UTC
Studio
$300
2820 W MAPLE Road
The Transit Center
Troy, MI
Updated May 24 at 4:28pm UTC
Studio
$225
36403 Warren Road
Westland
Westland, MI
Updated May 2 at 2:33pm UTC
Studio
$200
9048 LINWOOD Street
Rosa Parks
Detroit, MI
Updated May 4 at 7:50am UTC
Studio
$300
1141 Holcomb St
Foch
Detroit, MI
Updated May 24 at 5:46pm UTC
Studio
$450
1130 Holcomb St
Foch
Detroit, MI
Updated May 24 at 5:46pm UTC
Studio
$400
Results within 5 miles of Detroit, MI
1130 Michigan Ave
Downtown Detroit
Detroit, MI
Updated May 23 at 5:43pm UTC
Studio
$450
Results within 10 miles of Detroit, MI
Fairmount Drive
Osborn
Detroit, MI
Updated May 19 at 7:32am UTC
1 Bedroom
$450
1130 Holcomb St
Foch
Detroit, MI
Updated May 24 at 5:46pm UTC
Studio
$485
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May 2018 Detroit Rent Report

Welcome to the May 2018 Detroit Rent Report. Detroit rents remained steady over the past month. In this report, we'll evaluate trends in the Detroit rental market, including comparisons to cities throughout the metro, state, and nation.

View full Detroit Rent Report
Rent Report
Detroit

May 2018 Detroit Rent Report

Welcome to the May 2018 Detroit Rent Report. Detroit rents remained steady over the past month. In this report, we'll evaluate trends in the Detroit rental market, including comparisons to cities throughout the metro, state, and nation.

Detroit rents held steady over the past month

Detroit rents have remained flat over the past month, however, they are up marginally by 0.8% year-over-year. Currently, median rents in Detroit stand at $680 for a one-bedroom apartment and $890 for a two-bedroom. Detroit's year-over-year rent growth lags the state and national averages, which both stand at 1.5%.

Rents rising across the Detroit Metro

Throughout the past year, rent increases have been occurring not just in the city of Detroit, but across the entire metro. Of the largest 10 cities that we have data for in the Detroit metro, 9 of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

  • Taylor has the least expensive rents in the Detroit metro, with a two-bedroom median of $880; the city has also seen rents fall by 0.5% over the past year, the biggest drop in the metro.
  • Warren has seen the fastest rent growth in the metro, with a year-over-year increase of 7.8%. The median two-bedroom there costs $980, while one-bedrooms go for $760.
  • Troy has the most expensive rents of the largest cities in the Detroit metro, with a two-bedroom median of $1,300; rents were up 1.9% over the past year but remained flat month-over-month.

Detroit rents more affordable than many similar cities nationwide

As rents have increased marginally in Detroit, comparable cities nationwide have seen rents grow more quickly. Detroit is still more affordable than most other large cities across the country.

  • Rents increased moderately in other cities across the state, with Michigan as a whole logging rent growth of 1.5% over the past year. For example, rents have grown by 2.8% in Grand Rapids and 1.9% in Lansing.
  • Detroit's median two-bedroom rent of $890 is below the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the 0.8% rise in Detroit.
  • While Detroit's rents rose marginally over the past year, many cities nationwide saw more substantial increases, including Las Vegas (+4.6%), Fresno (+3.2%), and Charlotte (+1.9%).
  • Renters will find more reasonable prices in Detroit than most comparable cities. For example, Chicago has a median 2BR rent of $1,260, which is nearly one-and-a-half times the price in Detroit.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Detroit $680 $890 0.2% 0.8%
Warren $760 $980 0.5% 7.8%
Sterling Heights $810 $1,060 0.2% 1.1%
Dearborn $980 $1,280 -0.2% 2.4%
Livonia $920 $1,200 0.7% 1.5%
Westland $740 $960 0.3% 1.5%
Troy $1,000 $1,300 0.0% 1.9%
Southfield $890 $1,160 0.3% 1.1%
Taylor $680 $880 0.1% -0.5%
Pontiac $730 $950 -0.0% 1.4%
See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.