10 Apartments under 500 for rent in Detroit, MI

Last updated August 17 at 2:43am UTC
12050 Bryden St
Winterhalter
Detroit, MI
Updated August 16 at 10:14am UTC
1 Bedroom
$475
4239 Alter Rd
Mack
Detroit, MI
Updated July 13 at 9:58am UTC
1 Bedroom
$475
14467 Troester
Burbank
Detroit, MI
Updated July 12 at 9:34am UTC
Studio
$100
30050 hoover
Northeast Warren
Warren, MI
Updated August 16 at 10:22pm UTC
Studio
$453
Results within 5 miles of Detroit, MI
17200 W TEN MILE Road
Southfield
Southfield, MI
Updated August 15 at 10:23pm UTC
Studio
$450
15538 Frazho
Roseville
Roseville, MI
Updated July 10 at 10:59pm UTC
Studio
$450
440 Eureka Road
Downtown Wyandotte
Wyandotte, MI
Updated August 17 at 2:43am UTC
Studio
$495
18922 Farmington Rd FARMINGTON Road
Livonia
Livonia, MI
Updated August 17 at 2:43am UTC
Studio
$450
Results within 10 miles of Detroit, MI
2820 W MAPLE Road
The Transit Center
Troy, MI
Updated August 17 at 2:42am UTC
Studio
$350
5520 McDougall St
Chene
Detroit, MI
Updated July 23 at 5:19pm UTC
2 Bedrooms
$450

August 2018 Detroit Rent Report

Welcome to the August 2018 Detroit Rent Report. Detroit rents declined 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

August 2018 Detroit Rent Report

Welcome to the August 2018 Detroit Rent Report. Detroit rents declined 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 declined moderately over the past month

Detroit rents have declined 0.3% over the past month, but are up marginally by 0.9% in comparison to the same time last year. Currently, median rents in Detroit stand at $690 for a one-bedroom apartment and $890 for a two-bedroom. Detroit's year-over-year rent growth lags the state average of 1.3%, as well as the national average of 1.2%.

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 1.4% 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 8.7%. The median two-bedroom there costs $1,000, while one-bedrooms go for $770.
  • Dearborn has the most expensive rents of the largest cities in the Detroit metro, with a two-bedroom median of $1,310; rents increased 0.6% over the past month and 1.6% over the past year.

Detroit rents more affordable than many other large cities nationwide

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

  • Rents increased slightly in other cities across the state, with Michigan as a whole logging rent growth of 1.3% over the past year. For example, rents have grown by 1.9% in Grand Rapids and 1.6% in Lansing.
  • Detroit's median two-bedroom rent of $890 is below the national average of $1,180. Nationwide, rents have grown by 1.2% over the past year compared to the 0.9% rise in Detroit.
  • While Detroit's rents rose marginally over the past year, many cities nationwide saw decreases, including Chicago (-1.8%), Baltimore (-1.6%), and Minneapolis (-0.4%).
  • Renters will find more reasonable prices in Detroit than most comparable cities. For example, Chicago has a median 2BR rent of $1,270, 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 $690 $890 -0.3% 0.9%
Warren $770 $1,000 -0.9% 8.7%
Sterling Heights $820 $1,070 -0.1% 2.1%
Dearborn $1,010 $1,310 0.6% 1.6%
Livonia $940 $1,220 -0.1% 2.8%
Westland $740 $960 -0.2% 1.6%
Troy $1,010 $1,310 0.7% 0.9%
Southfield $900 $1,170 0.1% 1.1%
Taylor $680 $880 -0.8% -1.4%
Pontiac $720 $940 0.2% 1.1%
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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.