South Lyon, 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 South Lyon, Michigan rental market.
South Lyon, Michigan
Average Apartment Rent
$1,312
Y-o-Y Change in Average
Apartment Rent
0.3%
As of May 2026
Compared to a year ago, South Lyon, Michigan apartments have recorded a 0.3% rent increase.
South Lyon, Michigan Average apartment rent trend
South Lyon, Michigan Average Apartment Rent
South Lyon, Michigan Apartment rent ranges
At 77.67%, apartments priced $1,000 - $1,500 represent the bulk of South Lyon, Michigan rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 22.33%.
South Lyon, Michigan Housing tenure**
Renters take up 17% of South Lyon, Michigan real estate, occupying a total of 875 units, while homeowners live in 4,246 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$39,258
Average household size of renter-occupied housing units**
1.65
Rental vacancy rate**
4.3%
South Lyon, Michigan Renter-occupied housing units by no. of bedrooms**
There are 349 rentals in South Lyon, Michigan with 2 beds making up the highest share of the market, at 40%. Units with 4 beds, on the other hand, hold the lowest percentage (2%), amounting to 15 units. Overall, the median number of rooms in South Lyon, Michigan homes for rent is 4.
South Lyon, Michigan Renter-occupied units by age of householder**
Most condos for rent in South Lyon, Michigan are occupied by residents in the 45 - 54 years age group (23%), followed by those in the 15 - 24 years age group (22%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 4%.
South Lyon, Michigan Renter-occupied housing units by family type**
South Lyon, Michigan Renter-occupied housing units by the presence of own children**
A total of 189 apartments for rent in South Lyon, Michigan, or 22% of all rentals are family households. Additionally, 13% of rental homes include children under the age of 18 – that’s 118 units. All in all, the median size of a renter-occupied household in South Lyon, Michigan is 1.65.
South Lyon, Michigan Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 16% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in South Lyon, Michigan.
South Lyon, Michigan Renter-occupied units by year structure built**
The highest share of South Lyon, Michigan apartment rentals, namely 20% or 178 units, were Built 1970 - 1979, followed by those Built 1990 - 1999 (20%, 174 units), and the ones Built 1960 - 1969 (19%, 164 units).
South Lyon, Michigan Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most South Lyon, Michigan renters (41%) moved in 2010 to 2017, while only 5% of them moved in 1990 to 1999. Overall, the median year renters have occupied their South Lyon, Michigan condos for rent is 2016.
South Lyon, Michigan Renter-occupied housing units by vehicles available**
When it comes to transportation options, 67% of South Lyon, Michigan renters have 1 vehicle available per household, 26% of them have 2 vehicles available, and 4% have No vehicle available.
South Lyon, Michigan Means of transportation to work of householders living in renter-occupied housing units**
South Lyon, 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 South Lyon, 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
