Royal Oak, MI Rental Market Trends
Highlights
The average rent for an apartment in Royal Oak is $1,070, a 10% increase compared to the previous year, when the average rent was $974.
Average Rent in Royal Oak, MI
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,070 | 10% | 833 sq. ft. |
The average size for a Royal Oak, MI apartment is 833 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Royal Oak, MI Apartment Rent Ranges
- $701-$1,00064%
- $1,001-$1,50030%
- $1,501-$2,0004%
- > $2,0003%
Royal Oak, MI Occupied Housing Units
- Renter-occupied Households52%
- Owner-occupied Households47%
15,122 or 52% of the households in Royal Oak, MI are renter-occupied while 13,426 or 47% are owner-occupied.
Royal Oak, MI Rent Trends
| Average Rent | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Jan / 2020 |
|---|---|---|---|---|---|---|---|---|---|
| Royal Oak, MI | $945 | $956 | $965 | $957 | $957 | $974 | $985 | $1,017 | $1,070 |
| National | $1,347 | $1,379 | $1,381 | $1,384 | $1,420 | $1,429 | $1,433 | $1,469 |
How Royal Oak Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Detroit | $1,075 | 4% |
| East Lansing | $1,281 | 2% |
| Grand Rapids | $1,080 | 4% |
| Lansing | $868 | 2% |
| Ann Arbor | $1,582 | 5% |
| Southfield | $1,100 | 6% |
| Pontiac | $839 | 4% |
| Warren | $819 | 4% |
| Rochester Hills | $1,172 | 4% |
| Sterling Heights | $949 | 3% |
| Royal Oak | $1,070 | 10% |
For more information about the Royal Oak rental trends, check out our monthly rent report
Check out Michigan Cities, Michigan Neighborhoods and Michigan Zip Codes for more details on verified listings, including the Michigan Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!