4 Apartments under 500 for rent in Pontiac, MI

Last updated May 25 at 11:33pm UTC
Results within 5 miles of Pontiac, MI
6060 DIXIE Highway
, MI
Updated May 21 at 11:13pm UTC
Studio
$400
Results within 10 miles of Pontiac, MI
17200 W TEN MILE Road
Southfield
Southfield, MI
Updated May 16 at 11:38pm UTC
Studio
$300
4345 MEIGS Avenue
, MI
Updated May 25 at 11:32pm UTC
Studio
$250
2820 W MAPLE Road
The Transit Center
Troy, MI
Updated May 25 at 11:33pm UTC
Studio
$225
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May 2018 Pontiac Rent Report

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

View full Pontiac Rent Report
Rent Report
Pontiac

May 2018 Pontiac Rent Report

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

Pontiac rents held steady over the past month

Pontiac rents have remained flat over the past month, however, they are up slightly by 1.4% year-over-year. Currently, median rents in Pontiac stand at $730 for a one-bedroom apartment and $950 for a two-bedroom. Pontiac'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 Pontiac, 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 increased 1.9% over the past year but remained flat month-over-month.

Pontiac rents more affordable than many large cities nationwide

As rents have increased slightly in Pontiac, large cities nationwide have seen rents grow more quickly. Pontiac is still more affordable than most 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.
  • Pontiac's median two-bedroom rent of $950 is below the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the 1.4% rise in Pontiac.
  • While Pontiac's rents rose slightly 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 Pontiac than most large cities. For example, Chicago has a median 2BR rent of $1,260.

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.