Downtown Southfield renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Downtown Southfield is about $1,179 per month. This puts it in the 85th percentile compared to the city average cost of rent, which is $1,211. Households in Downtown Southfield have a median income of $4,639 per month so the average renter in Downtown Southfield is spending roughly 25% of their earnings on housing.
Nationally, and in Downtown Southfield, home values are the data point most closely correlated with the cost of rent. The median price of a home in Downtown Southfield is $138,085 right now, which is higher than nearby neighborhoods, meaning that rents in Downtown Southfield also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the northwestern parts of Downtown Southfield while lower rent rates are often available in southwestern areas.
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