Rental market snapshot for Downtown, Detroit

Downtown rental market summary

The rental market in Downtown, Michigan is showing signs of growth. In July of 2023, there were 181 new listings, a 4.8% increase from the same time last year. The median rent in July of 2023 was $1,995, a 1.5% increase from the previous month and a 4.8% increase from July of 2022. This indicates that the rental market in Downtown, Michigan is becoming increasingly competitive, with more people looking to rent and prices rising.

The increasing demand for rental properties in Downtown, Michigan is likely due to the area's growing popularity. With its close proximity to major attractions, vibrant nightlife, and diverse cultural offerings, Downtown, Michigan is becoming an attractive destination for people looking for a place to live. As more people move to the area, the rental market is likely to continue to grow, with prices increasing as demand increases.

Median rent for all residential properties in Downtown

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The most expensive listings and top trending buildings in Downtown

Most Expensive Listings

AddressRent PriceBed / Bath
1400 Woodward Ave$3,8002 / 2.5
313 Park Ave$3,7652 / 2.0
313 Park Ave$3,7103 / 2.0
10 E Grand River Ave$3,7002 / 2.5
525 W Lafayette Blvd$3,6003 / 2.0

Top Trending Buildings

building nameavg rent price
Fourmidable Group$2,205
Bedrock Management Services LLC$1,760
Broder & Sachse Real Estate$1,598

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Bedroom Breakdown in Downtown

Studio
$1,326
MEDIAN RENT
1 Bedroom
$1,612
MEDIAN RENT
2 Bedroom
$3,075
MEDIAN RENT

Downtown neighborhood apartments rents

The rental market for studios in Downtown, Michigan is relatively stable. In July 2023, there was only one new studio listing, and the median rent remained the same as it was in June 2023 at $1,326. This indicates that the rental market for studios in Downtown, Michigan is not experiencing any significant changes in terms of rent prices.

The rental market for 1-bedroom apartments in Downtown, Michigan is showing signs of growth. In July 2023, there were 16 new 1-bedroom listings, representing a 4.4% increase in median rent from June 2023. The median rent for 1-bedroom apartments in July 2023 was $1,612, indicating that the rental market is becoming more competitive. With the influx of new listings, renters in Downtown, Michigan have more options to choose from and can expect to pay slightly more for their rental.

The rental market for 2-bedroom apartments in Downtown, Michigan is relatively stable. In July 2023, there were only two new listings, and the median rent only increased by 1.7% from June 2023 to July 2023, from $3,025 to $3,075. This indicates that the rental market is not experiencing any significant changes in the near future.

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Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.

As of 2023-07-31, the median rent in Downtown is $1,995.
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