Detroit, MI Rental Market
Detroit is in the midst of a sustained urban renaissance, anchored by the global headquarters of GM, Ford, and Stellantis — the "Big Three" automakers — along with a growing technology sector. Ultra-low median home prices (the lowest of any major US city) produce extraordinary gross yields, making Detroit one of the highest-yield rental markets in the country. Investors who conduct thorough neighborhood-level due diligence can find exceptional cash flow in a city that is meaningfully improving.
Get a rent estimate for an address in DetroitAverage Rent in Detroit, MI
$1,020
per month · 2026-06
Market Score
Key Facts — Detroit, MI Rental Market
- Average rent in Detroit, MI:$1,020/mo
- Median rent:$938/mo
- Rent range:$500 – $2,250/mo
- Most common rental (2 bedrooms):$900/mo
- Active listings:1,200
- Avg days to lease:38 days
- Year-over-year change:+2.8%
- Median home value:$95,000
- Est. gross annual yield:12.9%
- Data as of:2026-06
Rent by Bedroom in Detroit, MI
Average monthly rent for each bedroom type based on current active listings in Detroit.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $725/mo |
2 Bedrooms | $900/mo |
3 Bedrooms | $1,150/mo |
4 Bedrooms | $1,400/mo |
5 Bedrooms | $1,600/mo |
Detroit Rental Market Statistics
Key indicators from the current Detroit, MI rental market.
1,200
Available now in Detroit
38
From list to lease
$0.81
Average across listings
1,255 sq ft
Typical rental size
$500 – $2,250
Min to max active listings
+2.8%
Avg rent vs. prior year
Investing in Detroit, MI Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$95,000
Typical purchase price in Detroit
Est. Gross Annual Yield
12.9%
Before expenses & vacancy
Avg Monthly Income
$1,020
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Detroit for a full cash-flow breakdown including all costs.
Detroit, MI Rental Market FAQ
Common questions about renting and investing in Detroit, MI.
What is the average rent in Detroit, MI?
The average rent in Detroit, MI is $1,020 per month as of 2026. One-bedroom apartments average $725/mo, two-bedrooms $900/mo, and three-bedroom homes $1,150/mo. Midtown, Corktown, and New Center command significantly higher rents, while neighborhoods on the east and west sides offer lower price points.
Is Detroit, MI a good place to invest in rental property?
Detroit offers an estimated 12.9% gross annual yield — among the highest of any major US city — driven by median home values around $95,000. The Big Three auto companies, Rocket Companies, Henry Ford Health, and a growing tech presence provide employment anchors. Investors must research specific neighborhoods carefully, as performance varies dramatically across the city.
How competitive is the Detroit, MI rental market?
Detroit averages 38 days on market with approximately 1,200 active listings. Midtown, Corktown, and New Center are genuinely competitive with fast lease-ups. The broader city market is more moderate, reflecting the ongoing revitalization process. Well-maintained properties in improving neighborhoods lease significantly faster than the average.
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