Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.
Royal Oak, MI Rental Market Trends
What is the average rent in Royal Oak?
The average rent for an apartment in Royal Oak is $1,150, a 11% increase compared to the previous year, when the average rent was $1,033.
Average Rent in Royal Oak, MI
Last updated April 2021
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,150 | 11% | 845 sq. ft. |
What is the average apartment size in Royal Oak?
The average size for a Royal Oak, MI apartment is 845 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-$1,00055%
- $1,001-$1,50033%
- $1,501-$2,0006%
- > $2,0005%
Royal Oak, MI Occupied Housing Units
- Renter-occupied Households53%
- Owner-occupied Households46%
15,247 or 53% of the households in Royal Oak, MI are renter-occupied while 13,481 or 46% are owner-occupied.
Royal Oak, MI Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Apr / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Royal Oak, MI | $957 | $957 | $974 | $985 | $1,017 | $1,070 | $1,033 | $1,117 | $1,131 | $1,150 |
| National | $1,317 | $1,348 | $1,357 | $1,361 | $1,393 | $1,400 | $1,401 | $1,391 | $1,393 | $1,399 |
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How Royal Oak Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Grand Rapids | $1,140 | 4% |
| East Lansing | $1,299 | n/a |
| Ann Arbor | $1,595 | 1% |
| Detroit | $1,105 | 3% |
| Lansing | $906 | 3% |
| Southfield | $1,103 | 1% |
| Farmington Hills | $1,187 | 1% |
| Pontiac | $894 | 7% |
| Royal Oak | $1,150 | 11% |
| Rochester Hills | $1,264 | 6% |
| Sterling Heights | $1,012 | 8% |
Most Popular Apartments in Royal Oak
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 Royal Oak 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.