3 Apartments under 700 for rent in Wayne, MI

Last updated January 18 at 8:13pm UTC
Results within 1 miles of Wayne, MI
2724 S NEWBURGH Road
Westland
Westland, MI
Updated January 3 at 11:38am UTC
Studio
$650
1843 Ackley Ave
Westland
Westland, MI
Updated December 20 at 10:34am UTC
2 Bedrooms
$650
33512 Berville
Westland
Westland, MI
Updated January 18 at 8:13pm UTC
2 Bedrooms
$600
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January 2018 Wayne Rent Report

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

View full Wayne Rent Report
Rent Report
Wayne

January 2018 Wayne Rent Report

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

Wayne rents held steady over the past month

Wayne rents have remained flat over the past month, however, they are up moderately by 2.0% year-over-year. Currently, median rents in Wayne stand at $610 for a one-bedroom apartment and $800 for a two-bedroom. Wayne's year-over-year rent growth lags the state average of 2.4%, as well as the national average of 2.8%.

Rents rising across cities in Michigan

Throughout the past year, rent increases have been occurring not just in the city of Wayne, but across the entire state. Of the largest 10 cities that we have data for in Michigan, all of them have seen prices rise. The state as a whole logged rent growth of 2.4% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Dearborn is the most expensive of all Michigan's major cities, with a median two-bedroom rent of $1,300; of the 10 largest Michigan cities that we have data for, all have seen rents rise year-over-year, with Warren experiencing the fastest growth (+9.0%).
  • Dearborn, Ann Arbor, and Lansing have all experienced year-over-year growth above the state average (5.7%, 4.2%, and 2.8%, respectively).

Wayne rents more affordable than many large cities nationwide

As rents have increased slightly in Wayne, a few large cities nationwide have seen rents grow more quickly. Wayne is still more affordable than most large cities across the country.

  • Wayne's median two-bedroom rent of $800 is below the national average of $1,160. Nationwide, rents have grown by 2.8% over the past year compared to the 2.0% rise in Wayne.
  • While Wayne's rents rose slightly over the past year, many cities nationwide saw more substantial increases, including Phoenix (+3.8%), Seattle (+3.0%), and Dallas (+2.2%).
  • Renters will find more reasonable prices in Wayne than most large cities. For example, San Francisco has a median 2BR rent of $3,010, which is more than three-and-a-half times the price in Wayne.

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.

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.