$1,500 Per Month
- 1 Bath
- 396 Sq Ft
- Condo for Rent
555 E William St Unit 3K, Ann Arbor, MI 48104
555 E William St Unit 3K, Ann Arbor, MI 48104
Frequently Asked Questions
How much does it cost to rent a condo in Ann Arbor, MI?
The median rent for a condo in Ann Arbor, MI is $2,500 per month, though prices vary by neighborhood, size, and property type. As of September 2026, single-family homes tend to be the most affordable option while condos and townhouses are currently more expensive.
How much do you need to make to afford rent in Ann Arbor, MI?
To comfortably afford the median rent in Ann Arbor, MI, a household needs to earn roughly $96,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,400 per month in Ann Arbor, MI, renters typically need to show $7,200 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Ann Arbor, MI?
In Ann Arbor, MI, the price-to-rent ratio is 17.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Ann Arbor, MI are best for renting a condo?
The best neighborhood for renting in Ann Arbor, MI depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include East Packard, Downtown Ann Arbor, Broadway, Old West Side and Water Hill, each with its own character and price range.
