For the past several years, rental prices in Ann Arbor have experienced double-digit percentage price increases annually.
Ann Arbor has one of the highest median rental prices compared to cities of similar size, according to the US Department of Housing and Urban Development.
Chris Watson is a city council member serving northeastern Ann Arbor. He says Ann Arbor didn’t build many new properties throughout the 2010s. He says the city’s skyrocketing rent is a consequence of that.
“That has led to an overall deficit in supply and consistent price increases, especially with growth in University of Michigan attendance and just the general attractiveness of the city.”
Watson says compared to 385 new rental units per year from 1980 to 1999, Ann Arbor has built only 190 units annually for the past 20 years.
He says meeting demand through construction and rezoning will stabilize rental prices.
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