Ann Arbor Rent Report: October 2024

Welcome to the Apartment List October 2024 Rent Report for Ann Arbor, MI. Currently, the overall median rent in the city stands at $1,640, after falling 1.6% last month. Prices remain up 0.5% year-over-year. Read on to learn more about what’s been happening in the Ann Arbor rental market and how it compares to trends throughout the nation as a whole.

Ann Arbor rents are down 1.6% month-over-month and flat year-over-year

The median rent in Ann Arbor fell by 1.6% over the course of September, and has now increased by a total of 0.5% over the past 12 months. Ann Arbor’s rent growth over the past year has has fallen behind the state average (3.3%) but has outpaced the national average (-0.7%).

Ann Arbor rent growth in 2024 pacing below last year

Nine months into the year, rents in Ann Arbor have risen 2.9%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to September 2023 rents had increased 6.7%.

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin 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, capturing apartment transactions over time 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. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.