Apartments & Condos for Rent in 48073

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What to Know About

Life in Royal Oak & Beyond

Royal Oak shares many of the great qualities that make Michigan a desirable place to live.

Michigan is bordered by four Great Lakes, making it a popular destination for boating and water activities. Michigan is also home to many national parks, including Isle Royale National Park and Sleeping Bear Dunes National Lakeshore. Explore the state's rich heritage through visits to renowned museums such as the Henry Ford Museum and the Michigan Historical Museum or get an excellent education at top universities like Michigan State University and the University of Michigan. In addition, Michigan boasts a robust economy in the manufacturing, technology, and tourism industries.

The state provides numerous opportunities for thrills and excitement. From soaking in the stunning views of the Great Lakes to hitting the ski slopes in the nearby mountains, outdoor enthusiasts will find plenty to love. Additionally, Michigan is home to several sports teams, including the Detroit Lions (NFL), Detroit Red Wings (NHL), Detroit Tigers (MLB), and Detroit Pistons (NBA). Explore famous attractions like Mackinac Island, the Detroit Institute of Arts, and scenic Mackinaw City.

Michigan offers a high quality of life, a strong economy, and a welcoming community, making it a great place to live.

Rental Market Trends

Royal Oak, MI

As of March 2025, Royal Oak's rental market is tenant-friendly, with extended leasing periods, prompting landlords to offer incentives or reduced pricing. Royal Oak's average rent is 2.3% ($31) higher than the Michigan average of $1,376 and 21.3% ($381) lower than the U.S. average of $1,788.

Average Rent
$1,407
Monthly ChangeMonth Over Month Change
Increased0.8% ($11)
Yearly ChangeYear Over Year Change
Decreased17.4% ($296)
Avg. Days on MarketAverage Days on Market
74
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,330 Increased0.8% ($10) Increased7.3% ($91)
2 Beds $1,754 Increased3.1% ($52) Increased12% ($188)
3 Beds $2,030 Increased1.1% ($22) Decreased2.3% ($48)
Nearby Cities Average Rent Avg. Rent vs. Royal OakAverage Rent vs. Royal Oak Avg. Days on MarketAverage Days on Market
Berkley $1,274 Decreased9.5% ($133) 34 days
Madison Heights $1,566 Increased11.3% ($159) 38 days
Clawson $1,453 Increased3.3% ($46) 32 days
Oak Park $1,338 Decreased4.9% ($69) 36 days
Ferndale $1,269 Decreased9.8% ($138) 38 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Royal Oak Rental Market FAQs

Explore rental prices, market trends, and availability in Royal Oak, MI.

The average rent in Royal Oak, MI is $1,407 per month.
Apartments in Royal Oak typically rent for between $931 and $2,639 per month, with an average of $1,407 per month.
In Royal Oak, the average rent for a 1-bedroom apartment is $1,330 per month, for a 2-bedroom apartment, $1,754 per month, and a 3-bedroom apartment is $2,030 per month.
The average rent in Royal Oak is 21.3% ($381) lower than the national average of $1,788 per month.
The average rent in Royal Oak has increased by 0.8% ($11) in the last month and decreased by 17.4% ($296) over the past year.
The rental market in Royal Oak, MI, is currently tenant-friendly, with extended leasing periods, prompting landlords to offer incentives or reduced pricing.
In Royal Oak, MI, the average rental stays on the market for approximately 74 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 43 rental properties available in Royal Oak, MI.
Based on the current averages, a household would need an annual income of $70,160 to comfortably afford a 2-bedroom apartment in Royal Oak.
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