Pontiac, 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 Pontiac, Michigan rental market.
Pontiac, Michigan
Average Apartment Rent
$1,083
Y-o-Y Change in Average
Apartment Rent
4.6%
As of November 2024
Compared to a year ago, Pontiac, Michigan apartments have recorded a 4.6% rent increase.
Pontiac, Michigan Average apartment rent trend
Pontiac, Michigan Average Apartment Rent
Pontiac, Michigan Apartment rent ranges
At 68.86%, apartments priced $1,000 - $1,500 represent the bulk of Pontiac, Michigan rentals, while condos priced $700 - $1000 hold the lowest share of the market – 31.14%.
Pontiac, Michigan Housing tenure**
Renters take up 58% of Pontiac, Michigan real estate, occupying a total of 14,622 units, while homeowners live in 10,721 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$31,479
Average household size of renter-occupied housing units**
2.31
Rental vacancy rate**
7%
Pontiac, Michigan Renter-occupied housing units by no. of bedrooms**
There are 5,128 rentals in Pontiac, Michigan with 2 beds making up the highest share of the market, at 35%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 128 units. Overall, the median number of rooms in Pontiac, Michigan homes for rent is 4.3.
Pontiac, Michigan Renter-occupied units by age of householder**
Most condos for rent in Pontiac, Michigan are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 45 - 54 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Pontiac, Michigan Renter-occupied housing units by family type**
Pontiac, Michigan Renter-occupied housing units by the presence of own children**
A total of 6,846 apartments for rent in Pontiac, Michigan, or 47% of all rentals are family households. Additionally, 32% of rental homes include children under the age of 18 – that’s 4,678 units. All in all, the median size of a renter-occupied household in Pontiac, Michigan is 2.31.
Pontiac, Michigan Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 12% of the rental market. In contrast, residents with less than a high school degree reside in 18% of the homes for rent in Pontiac, Michigan.
Pontiac, Michigan Renter-occupied units by year structure built**
The highest share of Pontiac, Michigan apartment rentals, namely 19% or 2,780 units, were Built 1970 - 1979, followed by those Built 1939 or earlier (18%, 2,597 units), and the ones Built 1960 - 1969 (15%, 2,206 units).
Pontiac, Michigan Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Pontiac, Michigan renters (43%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Pontiac, Michigan condos for rent is 2017.
Pontiac, Michigan Renter-occupied housing units by vehicles available**
When it comes to transportation options, 47% of Pontiac, Michigan renters have 1 vehicle available per household, 26% of them have No vehicle available, and 19% have 2 vehicles available.
Pontiac, Michigan Means of transportation to work of householders living in renter-occupied housing units**
Pontiac, Michigan Geographical mobility in the past year for householders living in renter-occupied housing units**
Pontiac, 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 Pontiac, 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
