Buchanan, Michigan Rental Market Trends
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 Buchanan, Michigan rental market.
Buchanan, Michigan
Average Apartment Rent
$930
Y-o-Y Change in Average
Apartment Rent
3.8%
As of March 2026
Compared to a year ago, Buchanan, Michigan apartments have recorded a 3.8% rent increase.
Buchanan, Michigan Average apartment rent trend
Buchanan, Michigan Average Apartment Rent
Buchanan, Michigan Apartment rent ranges
At 75%, apartments priced Under $1,000 represent the bulk of Buchanan, Michigan rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 25%.
Buchanan, Michigan Housing tenure**
Renters take up 43% of Buchanan, Michigan real estate, occupying a total of 810 units, while homeowners live in 1,057 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$43,468
Average household size of renter-occupied housing units**
2.18
Rental vacancy rate**
8.6%
Buchanan, Michigan Renter-occupied housing units by no. of bedrooms**
There are 316 rentals in Buchanan, Michigan with 1 bed making up the highest share of the market, at 39%. Units with No bedrooms, on the other hand, hold the lowest percentage (6%), amounting to 46 units. Overall, the median number of rooms in Buchanan, Michigan homes for rent is 3.8.
Buchanan, Michigan Renter-occupied units by age of householder**
Most condos for rent in Buchanan, Michigan are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 5%.
Buchanan, Michigan Renter-occupied housing units by family type**
Buchanan, Michigan Renter-occupied housing units by the presence of own children**
A total of 323 apartments for rent in Buchanan, Michigan, or 40% of all rentals are family households. Additionally, 31% of rental homes include children under the age of 18 – that’s 253 units. All in all, the median size of a renter-occupied household in Buchanan, Michigan is 2.18.
Buchanan, Michigan Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 18% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in Buchanan, Michigan.
Buchanan, Michigan Renter-occupied units by year structure built**
The highest share of Buchanan, Michigan apartment rentals, namely 36% or 289 units, were Built 1970 - 1979, followed by those Built 1960 - 1969 (31%, 249 units), and the ones Built 1980 - 1989 (11%, 88 units).
Buchanan, Michigan Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Buchanan, Michigan renters (47%) moved in 2018 to 2020, while only 11% of them moved in 2021 or later. Overall, the median year renters have occupied their Buchanan, Michigan condos for rent is 2019.
Buchanan, Michigan Renter-occupied housing units by vehicles available**
When it comes to transportation options, 60% of Buchanan, Michigan renters have 1 vehicle available per household, 17% of them have 2 vehicles available, and 13% have No vehicle available.
Buchanan, Michigan Means of transportation to work of householders living in renter-occupied housing units**
Buchanan, Michigan Geographical mobility in the past year for householders living in renter-occupied housing units**
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 Buchanan, 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
