2024 · Michigan
Rental yield in Michigan
In 2024, the typical rental in Michigan produced a gross yield of 5.5% — $1,168/mo median rent against a $254K median home value, ranking 8th of 51 states.
5.5%
Gross rental yield
above the 4.9% U.S. median
$1,168/mo
Median gross rent
incl. utilities (ACS)
$254K
Median home value
owner-occupied (ACS)
Michigan metros by yield
Metropolitan areas in Michigan with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Saginaw, MI | 7.3% | $972/mo | $159K |
| Bay City, MI | 6.9% | $976/mo | $169K |
| Battle Creek, MI | 6.9% | $991/mo | $172K |
| Flint, MI | 6.3% | $1,058/mo | $200K |
| South Bend-Mishawaka, IN-MI | 6.1% | $1,101/mo | $217K |
| Lansing-East Lansing, MI | 5.6% | $1,111/mo | $237K |
| Midland, MI | 5.6% | $1,031/mo | $222K |
| Detroit-Warren-Dearborn, MI | 5.5% | $1,248/mo | $272K |
| Jackson, MI | 5.4% | $965/mo | $213K |
| Muskegon-Norton Shores, MI | 5.3% | $977/mo | $222K |
| Kalamazoo-Portage, MI | 5.0% | $1,080/mo | $261K |
| Grand Rapids-Wyoming-Kentwood, MI | 4.9% | $1,289/mo | $317K |
| Monroe, MI | 4.7% | $1,002/mo | $254K |
| Ann Arbor, MI | 4.7% | $1,554/mo | $395K |
| Niles, MI | 4.5% | $910/mo | $244K |
| Traverse City, MI | 4.2% | $1,329/mo | $380K |
Frequently asked questions
What is the gross rental yield in Michigan?
In 2024, Michigan had a gross rental yield of 5.5% — $1,168/mo median gross rent against a $254K median home value. That ranks 8th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which Michigan metros have the best rental yield?
Among Michigan metros covered by the data, gross yield was highest in Saginaw, MI (7.3%), Bay City, MI (6.9%), and Battle Creek, MI (6.9%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in Michigan
Yield shows where the numbers work; our Investor Financing Report for Michigan shows the rate premium, denial rate, and DSCR lending investors face there.
Run a Michigan deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.