9 Cheap Apartments for rent in Pontiac, MI

Last updated July 23 at 9:59am UTC
4345 MEIGS Avenue
, MI
Updated July 23 at 9:56am UTC
Studio
$375
24333 Southfield Road
Southfield
Southfield, MI
Updated July 23 at 9:59am UTC
Studio
$500
Results within 5 miles of Pontiac, MI
2820 W MAPLE Road
The Transit Center
Troy, MI
Updated July 23 at 9:56am UTC
Studio
$350
Results within 10 miles of Pontiac, MI
17200 W TEN MILE Road
Southfield
Southfield, MI
Updated July 18 at 2:26pm UTC
Studio
$450
7938 COOLEY LAKE Road
, MI
Updated July 7 at 7:01am UTC
Studio
$560
6877 Saline Dr
, MI
Updated April 12 at 10:16am UTC
1 Bedroom
$550
152 Washington St
Pontiac
Pontiac, MI
Updated July 10 at 5:36pm UTC
1 Bedroom
$500
152 Washington St
Pontiac
Pontiac, MI
Updated July 10 at 5:36pm UTC
2 Bedrooms
$550

July 2018 Pontiac Rent Report

Welcome to the July 2018 Pontiac Rent Report. Pontiac rents declined 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

July 2018 Pontiac Rent Report

Welcome to the July 2018 Pontiac Rent Report. Pontiac rents declined 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 declined slightly over the past month

Pontiac rents have declined 0.2% over the past month, but have increased marginally by 0.9% in comparison to the same time last year. Currently, median rents in Pontiac stand at $720 for a one-bedroom apartment and $940 for a two-bedroom. This is the third straight month that the city has seen rent decreases after an increase in March. Pontiac's year-over-year rent growth lags the state average of 1.5%, as well as the national average of 1.4%.

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 seen rents fall by 0.7% over the past year, the biggest drop in the metro. It also has the least expensive rents in the Detroit metro, with a two-bedroom median of $890.
  • Warren has seen the fastest rent growth in the metro, with a year-over-year increase of 9.7%. The median two-bedroom there costs $1,010, while one-bedrooms go for $780.
  • Dearborn has the most expensive rents of the largest cities in the Detroit metro, with a two-bedroom median of $1,310; rents were up 1.1% over the past month and 1.2% over the past year.

Pontiac rents more affordable than many large cities nationwide

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

  • Rents increased slightly 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 2.1% in Grand Rapids and 1.9% in Lansing.
  • Pontiac's median two-bedroom rent of $940 is below the national average of $1,180. Nationwide, rents have grown by 1.4% over the past year compared to the 0.9% increase in Pontiac.
  • While Pontiac's rents rose marginally over the past year, many cities nationwide saw decreases, including Chicago (-1.3%), Baltimore (-0.6%), and Minneapolis (-0.1%).
  • Renters will find more reasonable prices in Pontiac than most large cities. For example, Chicago has a median 2BR rent of $1,270.

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 0.4% 1.3%
Warren $780 $1,010 1.7% 9.7%
Sterling Heights $830 $1,070 0.7% 2.8%
Dearborn $1,000 $1,310 1.1% 1.2%
Livonia $940 $1,220 0.2% 2.9%
Westland $740 $960 0.3% 1.7%
Troy $1,000 $1,300 -0.1% 0.5%
Southfield $900 $1,170 0.1% 1.0%
Taylor $680 $890 0.5% -0.7%
Pontiac $720 $940 -0.2% 0.9%
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.