Studio rentals in Detroit are decreasing, according to this new study

Posted at 4:32 PM, Mar 05, 2019
and last updated 2019-03-05 16:42:27-05

DETROIT (WXYZ) — A new study by Apartment Guide found that the price for studio apartments in Detroit have dropped by 5 percent since 2018.

The study compiled the top 10 American cities where studio rent is increasing as well as decreasing the most since last year. The list comes from a year-to-year comparison of studio apartment rental rates in the 100 biggest cities across the nation. Detroit ranked number 6 on the list for decreasing rents.

The population decline in Detroit has plateaued, according to the study, and within the last decade the city has become one of the most "culturally resurgent" in America. Rents are falling in Detroit and studio apartments are averaging $819, according to the study. .

Cities where studio rents have gone up since 2018 include:
10. Sacramento, CA
9. Newark, NJ
8. Colorado Springs, CO
7. Louisville, KY
6. Fort WOrth, TX
5. San Antonio, TX
4. Jacksonville, FL
3. Anchorage, AK
2. Saint Petersburg, FL
1. Arlington, TX

Cities where studio rents have decreased since 2018 include:
10. Portland, OR
9. Saint Louis, MO
8. New Orleans, LA
7. Madison, WI
6. Detroit, MI
5. Baton Rouge, LA
4. Aurora, CO
3. Honolulu, HI
2. Henderson, NV
1. Corpus Christi, TX