15 Apartments under 700 for rent in Wayne, MI

Last updated May 25 at 5:54pm UTC
Results within 5 miles of Wayne, MI
26303 Oakland St
Inkster
Inkster, MI
Updated May 25 at 5:53pm UTC
1 Bedroom
$620
36504 GODDARD Road
Romulus
Romulus, MI
Updated May 3 at 12:28pm UTC
Studio
$650
36403 Warren Road
Westland
Westland, MI
Updated May 2 at 2:33pm UTC
Studio
$200
6437 Grandville Ave
Warrendale
Detroit, MI
Updated May 25 at 5:54pm UTC
1 Bedroom
$600
12870 Outer Dr W
Brightmoor
Detroit, MI
Updated May 13 at 9:39am UTC
1 Bedroom
$615
Results within 10 miles of Wayne, MI
31245 KRAUTER Street
Garden City
Garden City, MI
Updated February 13 at 2:00am UTC
1 Bedroom
$675
9516 Patton St
Franklin Park
Detroit, MI
Updated May 23 at 5:42pm UTC
2 Bedrooms
$665
12870 Outer Dr W
Brightmoor
Detroit, MI
Updated April 27 at 1:47am UTC
Studio
$500
1311 Middlebelt Rd
Inkster
Inkster, MI
Updated May 22 at 8:41pm UTC
1 Bedroom
$550
14308 Rockdale St
Brightmoor
Detroit, MI
Updated May 25 at 4:47pm UTC
2 Bedrooms
$525
9230 Vaughan St
Franklin Park
Detroit, MI
Updated March 29 at 10:50am UTC
2 Bedrooms
$650
8904 Vaughan St
Franklin Park
Detroit, MI
Updated February 27 at 12:51pm UTC
3 Bedrooms
$650
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May 2018 Wayne Rent Report

Welcome to the May 2018 Wayne Rent Report. Wayne rents declined 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

May 2018 Wayne Rent Report

Welcome to the May 2018 Wayne Rent Report. Wayne rents declined 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 declined marginally over the past month

Wayne rents have declined 0.1% over the past month, but have remained steady at 0.3% in comparison to the same time last year. Currently, median rents in Wayne stand at $610 for a one-bedroom apartment and $800 for a two-bedroom. This is the third straight month that the city has seen rent decreases after an increase in January. Wayne's year-over-year rent growth lags the state and national averages, which both stand at 1.5%.

Rents rising across cities in Michigan

Throughout the past year, rents have remained steady in the city of Wayne, but other cities across the entire state have seen rents increase. Of the largest 10 cities that we have data for in Michigan, 9 of them have seen prices rise. The state as a whole logged rent growth of 1.5% 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, Ann Arbor is the most expensive of all Michigan's major cities, with a median two-bedroom rent of $1,290; of the 10 largest cities in the state that we have data for, Flint, where a two-bedroom goes for $720, is the only major city to see rents fall year-over-year (-0.9%).
  • Warren, South Bend, and Ann Arbor have all experienced year-over-year growth above the state average (7.8%, 3.6%, and 3.1%, respectively).

Wayne rents more affordable than many large cities nationwide

Rent growth in Wayne has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. 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 $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the stagnant growth in Wayne.
  • While rents in Wayne remained moderately stable this year, similar cities saw increases, including Phoenix (+2.3%), Atlanta (+1.9%), and Denver (+1.6%); note that median 2BR rents in these cities go for $1,030, $1,170, and $1,320 respectively.
  • Renters will find more reasonable prices in Wayne than most large cities. For example, San Francisco has a median 2BR rent of $3,060, 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.