Rents Hold Steady As US Average Dips
Detroit’s average advertised asking rent was flat on a trailing three-month basis through October, at $1,332, according to the latest Yardi Matrix Detroit multifamily market report. Meanwhile, the national average slid 20 basis points, to $1,743. The gap was wider year-over-year, as the metro recorded a 1.9% uptick compared to just a 0.5% increase at the national level, as per the U.S. multifamily market outlook. Among the top 30 metros tracked by Yardi Matrix, Detroit posted one of the strongest year-over-year rent growth rates, ranking eighth among other top submarkets.
Employment growth in the metro was 0.6% year-over-year through August, just 20 basis points below the U.S. average. Detroit’s unemployment rate stood at 4.3% in August, according to preliminary Bureau of Labor Statistics data. Over the 12-month period ending in August, the metro gained 7,300 net jobs, with financial activities leading growth, up 3,600 positions. OpenAI, Oracle and Related Digital have selected a 250-acre site in Saline Township, Mich., just outside Ann Arbor, for a data center campus. The joint venture expects to start construction on the $7 billion project in early 2026.
More than 1,500 units were delivered in the first 10 months of the year. Developers had 3,701 units under construction and an additional 27,000 in the planning and permitting stages. Investment amounted to $224 million year-to-date through October, slightly below the $245 million recorded in the same period last year.
Read the full Yardi Matrix Detroit Multifamily Market Report: December 2025
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