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Rents in Detroit continue to escalate, particularly in downtown, Midtown and Corktown. In some cases they match or exceed rents in Chicago's fashionable neighborhoods.
Rates for Detroit apartments reached an average of $932 a month in December, up from $853 the previous December -- an average 9.3-percent increase, according to a study by RENTCafé, a national rental listing business.
The average apartment rents are far higher in some parts of the city. For example, a one-bedroom apartment downtown can go for $1,400 to $1,900 a month.
The comparison of six cities's rents suggests that one of the reasons for the sharp increase in Detroit is tight supply. Only 192 apartments became available last year, the report says.
RENTCafé relied on data from its sister company, Yardi Matrix, an apartment market research source that reports on multifamily properties of 50-plus units.
