Detroit Rents Are Staying the Same

"Rents in the Detroit-Warren-Dearborn metro are essentially holding steady as 2025 comes to a close, offering renters a rare moment of stability. The Realtor.com® November 2025 Rental Report shows that while many large metros are still seeing rents fall-or rise-Detroit's market has settled into a near-flat pattern. That pause provides predictability, even as affordability remains a concern for many households."

"For lower-wage households, that stability matters. Two minimum-wage earners in the Detroit area would each need to work about 50 hours per week to afford the median rental while keeping housing costs at 30% of income. While still above a standard full-time schedule, Detroit's affordability picture is less severe than in many markets that rely solely on the federal minimum wage. Looking ahead, Detroit stands out for another reason. Scheduled minimum-wage increases in Michigan are set to improve affordability in 2026, reducing the number of hours minimum-wage earners would need to work to afford rent to 39 per person."

"Across the 50 largest U.S. metros, the median asking rent fell to $1,693 in November, down 1% from a year earlier. That marked the 28th consecutive month of year-over-year rent declines nationwide. The slowdown has been consistent across unit sizes. Studio rents are down 0.4% year over year, while 1-bedroom and 2-bedroom units each declined about 1%. Economists note that studios tend to respond more quickly to shifts in demand, so their near-flat trend may indicate stabilizing renter behavior, even"

Rents in the Detroit-Warren-Dearborn metro are nearly flat, with median asking rent for 0- to 2-bedroom units at $1,327 in November, a 0.2% year-over-year increase. Stability in rents provides predictability for renters even as affordability issues persist for lower-wage households. Two minimum-wage earners currently would each need about 50 hours per week to keep housing costs at 30% of income; scheduled Michigan minimum-wage increases in 2026 would lower that need to about 39 hours. Nationally, median asking rent across the 50 largest metros fell to $1,693, marking a 28th consecutive month of declines.

Read at SFGATE