MARKET SNAPSHOT

Detroit q3 2025

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AVERAGE RENT

$1,339 Q3 2025

OCCUPANCY RATE

93.2% Q3 2025

NET ABSORPTION

1,807 YTD Q3 2025

ANNUAL RENT CHANGE

1.6% Q3 2025

ANNUAL OCCUPANCY CHANGE

+10 BPS Q3 2025

UNIT COMPLETIONS

1,622 YTD Q3 2025

KEY TAKEAWAYS

After two years of heavy deliveries that added over 5,500 units, supply pressure in Detroit’s multifamily market is easing. With only 393 units scheduled to deliver in Q4 2025, the reduced pace of completions is expected to support further occupancy gains in the coming quarters.

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Renter demand continues to outpace new supply in Detroit, with absorption exceeding deliveries by 900 units last year and 200 units through Q3 2025. This imbalance has driven balanced rent gains, with annual growth reaching 1.6%—over 100 basis points above the national average.

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Occupancy in Metro Detroit continues to climb, reaching 93.2% at the end of Q3 2025—up 10 basis points year over year—extending the steady recovery that began in 2024 as renter demand strengthens across the metro.

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MARKET OUTLOOK

The Metro Detroit multifamily market is entering 2026 on firmer footing, supported by an improving demographic base, stable job growth, and a notable slowdown in new supply...

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