Michigan 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 Michigan is about $1,036 per month. This puts it in the 1st percentile compared to the nation average cost of rent, which is $1,307. Households in Michigan have a median income of $5,986 per month so the average renter in Michigan is spending roughly 17% of their earnings on housing.
Nationally, and in Michigan, home values are the data point most closely correlated with the cost of rent. The median price of a home in Michigan is $196,062 right now, which is higher than nearby states, meaning that rents in Michigan also tend to be higher versus these nearby states.
Higher rent prices are common in the eastern parts of Michigan while lower rent rates are often available in northeastern areas.
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