MARKET SNAPSHOT

Detroit q2 2025

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AVERAGE RENT

$1,341 Q2 2025

OCCUPANCY RATE

93.5% Q2 2025

NET ABSORPTION

1,384 H1 2025

ANNUAL RENT CHANGE

2.4% Q2 2025

ANNUAL OCCUPANCY CHANGE

+10 BPS Q2 2025

COMPLETIONS

1,165 H1 2025

KEY TAKEAWAYS

Although new supply slightly outpaced demand in Q2 2025, renter demand remains strong, with 2,500 units absorbed over the past year versus 1,800 units delivered, highlighting sustained momentum despite a temporary quarterly imbalance.

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Developers delivered approximately 1,800 units over the 12 months ending in June 2025, with over one-third concentrated in Downtown and Midtown Detroit. Birmingham/Bloomfield led suburban submarkets, contributing roughly 360 units to new supply.

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Detroit posted 2.4% annual rent growth in Q2 2025, down slightly from 3.1% in the prior quarter but still ranking 10th among the 50 largest U.S. markets, and well ahead of the 0.9% national average.

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MARKET OUTLOOK

The Detroit multifamily market is on stable footing as of mid-2025, supported by improving demographics, steady demand, and a manageable development pipeline.

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