Ann Arbor, Michigan Rental Market Trends

Disclaimer:

Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Ann Arbor, Michigan rental market.

Ann Arbor, Michigan

Average Apartment Rent

$2,089

Y-o-Y Change in Average
Apartment Rent

4.8%

As of November 2024

Compared to a year ago, Ann Arbor, Michigan apartments have recorded a 4.8% rent increase.

Ann Arbor, Michigan Average apartment rent trend

Median Rent Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024
Ann Arbor $1,749 $1,789 $1,865 $1,912 $1,933 $1,980 $1,956 $1,993 $2,043 $2,089
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
Ann Arbor
National
Nov 2021
$1,749
$1,596
Mar 2022
$1,789
$1,635
Jul 2022
$1,865
$1,708
Nov 2022
$1,912
$1,726
Mar 2023
$1,933
$1,714
Jul 2023
$1,980
$1,739
Nov 2023
$1,956
$1,733
Mar 2024
$1,993
$1,727
Jul 2024
$2,043
$1,752
Nov 2024
$2,089
$1,748

Ann Arbor, Michigan Average Apartment Rent

Ann Arbor, Michigan Apartment rent ranges

Under $500
$501 - $700
$701 - $1000
$1,001 - $1,500
$1,501 - $2,000
Over $2,000

At 39.32%, apartments priced $1,500 - $2,000 represent the bulk of Ann Arbor, Michigan rentals, while condos priced $700 - $1000 hold the lowest share of the market – 0.5%.

Ann Arbor, Michigan Housing tenure**

Renter occupied housing units 27,581
Owner occupied housing units 22,529

Renters take up 55% of Ann Arbor, Michigan real estate, occupying a total of 27,581 units, while homeowners live in 22,529 properties.

Median number of rooms of renter-occupied housing units**

3.9

Renter median household income**

$48,218

Average household size of renter-occupied housing units**

2.12

Rental vacancy rate**

3.2%

Ann Arbor, Michigan Renter-occupied housing units by no. of bedrooms**

No bedrooms 1,802
1 bed 7,671
2 beds 10,791
3 beds 4,050
4 beds 2,031
5 or more beds 1,236

There are 10,791 rentals in Ann Arbor, Michigan with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (4%), amounting to 1,236 units. Overall, the median number of rooms in Ann Arbor, Michigan homes for rent is 3.9.

Ann Arbor, Michigan Renter-occupied units by age of householder**

15 - 24 years 10,818
25 - 34 years 8,613
35 - 44 years 2,875
45 - 54 years 1,995
55 - 59 years 619
60 - 64 years 884
65 - 74 years 837
75 - 84 years 592
85 years and over 348

Most condos for rent in Ann Arbor, Michigan are occupied by residents in the 15 - 24 years age group (39%), followed by those in the 25 - 34 years age group (31%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.

Ann Arbor, Michigan Renter-occupied housing units by family type**

Family households 6,701
Non-Family Households 20,880

Ann Arbor, Michigan Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 3,139
No related children of the householder under 18 24,442

A total of 6,701 apartments for rent in Ann Arbor, Michigan, or 24% of all rentals are family households. Additionally, 11% of rental homes include children under the age of 18 – that’s 3,139 units. All in all, the median size of a renter-occupied household in Ann Arbor, Michigan is 2.12.

Ann Arbor, Michigan Renter-occupied housing units by educational attainment**

Less than high school graduate 400
High school graduate (including equivalency) 2,687
Some college or associate's degree 7,306
Bachelor's degree or higher 17,188

In terms of education, renters holding bachelor degrees or higher make up 62% of the rental market. In contrast, residents with less than a high school degree reside in 1% of the homes for rent in Ann Arbor, Michigan.

Ann Arbor, Michigan Renter-occupied units by year structure built**

Built 2010 - 2019 2,268
Built 2000 - 2009 1,727
Built 1990 - 1999 3,820
Built 1980 - 1989 4,119
Built 1970 - 1979 4,835
Built 1960 - 1969 4,851
Built 1950 - 1959 1,812
Built 1940 - 1949 698
Built 1939 or earlier 3,326

The highest share of Ann Arbor, Michigan apartment rentals, namely 18% or 4,851 units, were Built 1960 - 1969, followed by those Built 1970 - 1979 (18%, 4,835 units), and the ones Built 1980 - 1989 (15%, 4,119 units).

Ann Arbor, Michigan Renter-occupied units by year householder moved in**

Moved in 2021 or later 4,785
Moved in 2018 to 2020 12,492
Moved in 2010 to 2017 8,575
Moved in 2000 to 2009 901
Moved in 1990 to 1999 529
Moved in 1989 or earlier 299

Median year renter moved into unit 2019

Most Ann Arbor, Michigan renters (45%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Ann Arbor, Michigan condos for rent is 2019.

Ann Arbor, Michigan Renter-occupied housing units by vehicles available**

No vehicle available 5,782
1 vehicle available 13,159
2 vehicles available 6,539
3 vehicles available 1,315
4 vehicles available 344
5 or more vehicles available 442

When it comes to transportation options, 48% of Ann Arbor, Michigan renters have 1 vehicle available per household, 24% of them have 2 vehicles available, and 21% have No vehicle available.

Ann Arbor, Michigan Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 13,723
Car, truck, or van - carpooled 1,560
Public transportation (excluding taxicab) 2,997
Walked 6,263
Taxicab, motorcycle, bicycle, or other means 1,214
Worked at home 5,780

Ann Arbor, Michigan Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 29,905
Moved within same county 14,847
Moved from different county within same state 5,323
Moved from different state 5,550
Moved from abroad 2,265

Ann Arbor, Michigan Average apartment rent by zip codes


The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Ann Arbor, Michigan apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

*Average single-family rent calculated from point2homes.com data.

**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates

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