Median rent for residential in as of Jul, 2022.
Remember to negotiate your rent according to median rental prices. Also, take into account that the price depends on the size/amenities of the apartment.
18 Ferndale, MI 48220, USA apartments for rent
Ferndale
Ferndale, MI has a population of 20,159, while the median age is 35. The household income in Ferndale, MI is around $61,060. The homeownership rate among the residents is 64%. The median residential property value in Ferndale, MI that you should keep in mind is $131,100.
| Population | 20,159 |
| Median Age | 34.6 |
| Poverty Rate | 14% |
| Household Income | $61,060 |
| Number Of Employees | 13,097 |
| Median Property Value | $131,100 |
Housing Trends
How much is an apartment in Ferndale, MI 48220, USA
Average rent in Ferndale: $1,688 (+1%)
| Rent Price | Jul | vs Last Month |
|---|---|---|
| 1 bed rentals | $793 | -25.6% |
| 2 bed rentals | $1,700 | +11.3% |
| 3 bed rentals | $2,152 | +21.1% |
| 4+ bed rentals | $2,000 | -20% |
Over the Jul 2022, the average rent for an apartment in/near Ferndale, MI increased by 1% to $1,688.
Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 25.6% to $793. Pricing for 2-bed apartment also increased by 11.3% and a place of this size will now cost you $1,700. 3-bed apartment rent pricing starts at $2,152, it increased by 21.1% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 20% and made it down to $2,000.
| Rent Type Price | Jul | vs Last Month |
|---|---|---|
| House rentals | $1,984 | +18.7% |
| Apartment rentals | $550 | N/A |
| Room rentals | $775 | N/A |
Looking at the median rent price for an apartment in Ferndale, MI, you can note that it remains flat with a price tag of $550. Statistics show that house rent price increased by 18.7% this month making it up to $1,984. If you’re looking for a room, the price tag still starts at $775. The median price did not change this time.