Report: Michigan rental rates up
(CBS DETROIT) - High rent prices are something millions of people across the country are dealing with.
However, renters in Michigan appear to be feeling the burn more than anyone else in the country.
New numbers show Michigan had one of the highest increases in rent in the last year.
According to Rent.com, the cost of rent in our state has gone up 13.89% in 2023.
That's the second-highest rate of increase in the country. The average monthly rent in Michigan is $1,505 a month.
In Metro Detroit, that number is even higher, with the average rate coming in at $1,671 per month.
Overall, the average monthly rent cost is trending lower across the country.
Read the report here.
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