Birmingham, MI has a population of 20,836, while the median age is 42. The household income in Birmingham, MI is around $114,537. The homeownership rate among the residents is 75%. The median residential property value in Birmingham, MI that you should keep in mind is $467,700.
Population | 20,836 |
Median Age | 41.5 |
Poverty Rate | 4% |
Household Income | $114,537 |
Number Of Employees | 10,795 |
Median Property Value | $467,700 |
Rent Price |
May | vs Last Month |
---|---|---|
Studio apartments | $2,150 | +6.1% |
1-bed apartments | $1,897 | -14.2% |
2-bed apartments | $2,762 | -17.8% |
3-bed apartments | $5,689 | -17.9% |
4+ bed apartments | $9,267 | -19.3% |
Over the May 2023, the average rent for an apartment in/near Birmingham, MI decreased by 26.8% to $3,903.
Compared to the last month, the average price for a rental studio in Birmingham, MI has increased by 6.1%. You can expect to rent the studio for $2,150 on average this month. Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 14.2% to $1,897. Pricing for 2-bed apartment also decreased by 17.8% and a place of this size will now cost you $2,762. 3-bed apartment rent pricing starts at $5,689, it decreased by 17.9% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 19.3% and made it down to $9,267.
Rent Type Price |
May | vs Last Month |
---|---|---|
Houses for rent | $5,671 | -40% |
Condos for rent | $2,550 | +8.1% |
Apartments for rent | $3,436 | +16.2% |
Rooms for rent | $1,000 | N/A |
The median rent for an apartment in Birmingham, MI increased by 16.2% to $3,436. Statistics show that house rent price decreased by 40% this month making it up to $5,671. Condos faced an upward trend these days. The median rent for a condo increased by 8.1%, it’s now available for $2,550. If you’re looking for a room, the price tag still starts at $1,000. The median price did not change this time.