Lansing-Ann Arbor ranks 49th among the top 50 most competitive rental markets in the U.S., being surpassed by other neighboring markets, like Grand Rapids, who turned red hot thanks to renters’ soaring interest in the area. To pinpoint the most sought-after rental markets of 2021, we analyzed 105 areas based on occupancy rates, number of renters applying for an available unit, vacancy days and average credit score.
Here’s how Lansing-Ann Arbor ranks in terms of competitivity:
- On average, it took only 25 days for a vacant apartment in the area to be rented out. With occupancy rates at 96.2%, prospective renters had limited housing options in this bustling market.
- For every vacant apartment in Lansing-Ann Arbor, there were, on average, 15 renters applying for it. In other neighboring markets, competition among renters was fierce. In Grand Rapids, for example, there were 22 renters applying for one vacant unit.
- Renters who applied for apartments in Lansing-Ann Arbor had an average credit score of 637, which is below this year’s national average score of 640.
- By comparison, occupancy rates reached 95.4% nationally. On average, vacant apartments stayed on the market for 28 days and the number of prospective renters applying for one vacant unit was 14.
- You can read their full report here: https://www.rentcafe.com/blog/rental-market/market-snapshots/2021-year-end-report-outdoor-friendly-small-metros-were-the-most-desirable-to-rent-in-led-by-eugene-or/.
