Median rents, rental comps, and market trends across 15 zip codes in Detroit, MI.
Entry prices that seem like typos and fundamentals that are genuinely improving. The comeback story is real this time — healthcare, tech, and automotive are driving it. Property selection matters more here than almost anywhere though. A few blocks in the wrong direction changes everything.
Median Asking Rent
$1,307
Rent Change (YoY)
-3.0%
Avg Days on Market
68
Active Rental Listings
1,345
Median List Price
$99,000
Average across 15 zip codes
ZIP | Median Rent |
|---|---|
| 48226 | $1,845/mo |
| 48207 | $1,550/mo |
| 48208 | $1,500/mo |
| 48202 | $1,399/mo |
| 48201 | $1,350/mo |
| 48206 | $1,300/mo |
| 48221 | $1,300/mo |
| 48213 | $1,294/mo |
| 48219 | $1,264/mo |
| 48205 | $1,200/mo |
| 48224 | $1,200/mo |
| 48228 | $1,200/mo |
| 48234 | $1,200/mo |
| 48210 | $1,195/mo |
| 48204 | $1,000/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $875/mo |
| 1 Bedroom | $945/mo |
| 2 Bedroom | $1,100/mo |
| 3 Bedroom | $1,344/mo |
| 4 Bedroom | $1,475/mo |
Aggregated median across all Detroit zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 48201 | $439,900 |
| 48226 | $379,850 |
| 48221 | $180,000 |
| 48202 | $149,900 |
| 48206 | $145,000 |
| 48210 | $115,000 |
| 48219 | $99,000 |
| 48224 | $99,000 |
| 48207 | $94,900 |
| 48204 | $85,000 |
| 48228 | $85,000 |
| 48205 | $75,000 |
| 48234 | $71,000 |
| 48213 | $70,000 |
| 48208 | $59,900 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $890/mo |
| 1 Bedroom | $990/mo |
| 2 Bedroom | $1,250/mo |
| 3 Bedroom | $1,530/mo |
| 4 Bedroom | $1,660/mo |
Fair Market Rents are published annually by HUD for the Detroit metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Detroit, MI is currently $1,307/month, based on active rental listings across 15 zip codes. Median asking rents have decreased by -3.0% over the past 12 months.
Asking rents vary significantly across the city. ZIP 48226 has the highest median asking rent at $1,845/month, while ZIP 48204 comes in at $1,000/month.
Rental listings in the area spend an average of 68 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Detroit metro area is $1,250/month. Current median asking rents are above the FMR, which is common in growing markets.
Detroit has some of the lowest purchase prices of any major US city, which makes the rent-to-price ratios look incredible on paper. And some of them genuinely are incredible — there are neighborhoods where the math works really well. Midtown, Corktown, and the greater downtown area have come back significantly. The auto industry is still the backbone (GM, Ford, Stellantis), but healthcare and tech have grown. The thing about Detroit is that the difference between a great rental investment and a terrible one can be a few blocks. Property condition matters a lot — there's cheap for a reason, and there's cheap because the market hasn't caught up yet. If you're investing here, spend time understanding the specific neighborhoods. The upside is real, but so are the risks if you buy blind.
Want to look up rental comps and rent estimates for a specific property in Detroit? PropMetrics lets you search any address and get detailed rental data instantly.
Get rent estimates, comparable rentals, and market data for any property in Detroit, MI. Free to start.
What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.