Detroit is the largest city in the state of Michigan, which is located in the northern United States. The city is close to the Canadian border. The population of Detroit is about 640,000 people. Detroit is one of the cheapest major cities in the US at average rental prices. In this article, we will look at the average prices for renting apartments with one and two-bedroom apartments in Detroit for October 2022. We will also identify the cheapest and most affordable neighborhoods in Detroit for apartment rentals. The average cost of renting a one-bedroom apartment in Detroit is $1,080 per month. Over the past year (October 2021 to October 2022), rental prices for one-bedroom apartments in Detroit have increased by 21.30%, and two-bedroom apartments by 13.00%. The average price for renting a two-bedroom apartment is $1,130 per month. Downtown Detroit – most popular and expensive neighborhoods with the highest rental prices. The median price for renting a one-bedroom apartment in Downtown Detroit is $1,575/month, which is above the city average.
The cheapest neighborhoods in Detroit include Mackenzie ($505/month for one-bedroom apartments), Evergreen ($600/month) and Cody-Rouge ($600/month).
Detroit’s most expensive neighborhoods include Downtown Detroit ($1,575/month), University ($1,300/month) and Macomb ($1,150/month).