Detroit is the 23rd largest multifamily market with 218,659 completed units and 29,655 units in development, 4,333 of which have already broken ground, as of September 2022.
Detroit Multifamily Market Summary – September 2022
New lease asking rents are at $1,228, up 6.2%▲
from the previous year placing Detroit at 109th
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – August 2022
New lease asking rents are at $1,238, up 8.5%▲
from the previous year placing Detroit at 93rd
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – July 2022
New lease asking rents are at $1,245, up 10.4%▲
from the previous year placing Detroit at 77th
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – June 2022
New lease asking rents are at $1,228, up 10.8%▲
from the previous year placing Detroit at 78th
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – May 2022
New lease asking rents are at $1,224, up 11.6%▲
from the previous year placing Detroit at 68th
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – April 2022
New lease asking rents are at $1,207, up 10.6%▲
from the previous year placing Detroit at 80th
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – March 2022
New lease asking rents are at $1,194, up 10.6%▲
from the previous year placing Detroit at 82nd
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – February 2022
New lease asking rents are at $1,185, up 10.4%▲
from the previous year placing Detroit at 87th
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – January 2022
New lease asking rents are at $1,178, up 10.3%▲
from the previous year placing Detroit at 82nd
overall in year-over-year rent growth.
Detroit Multifamily Market Summary – December 2021
New lease asking rents are at $1,168, up 9.9%▲
from the previous year placing Detroit at 75th
overall in year-over-year rent growth.
