Flats at Iron Ridge
3351 Bermuda St,
Ferndale, MI 48220
1-3 Beds | $1,870 - $3,559
Rental Market Trends in Ferndale, MI
What is the average rent in Ferndale, MI?
$1,407/month
Average Rent
656 Sq Ft
Average Apartment Size
+3%
Increase in the Last Year
As of February 2025, the average rent in Ferndale, MI is $1,407 per month. For comparison, the national average rent price in the US is currently $1,555/month, which means Ferndale rent prices are 10% lower than the national average. When you rent an apartment in Ferndale, you can expect to pay about $1,670 per month for a studio, $1,407 for a one-bedroom apartment, and around $1,914 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,559 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Ferndale, MI?
In the past year, rent has increased by 3%, which averages out to $43 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated February 2025
Legend
2024
2025
Rent Ranges in Ferndale, MI
Last Updated February 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
4%
Below $700/month
24%
$700 - $1,000/month
52%
$1,001 - $1,500/month
8%
$1,501 - $2,000/month
12%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Ferndale?
Based on current rent prices, Downtown Ferndale is the most affordable neighborhood in Ferndale.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Ferndale?
Based on current rent prices, Downtown Ferndale is the most expensive neighborhood in Ferndale.
Neighborhood
Average Rent
Average Sq Ft
Which Ferndale neighborhoods have the most rentals available?
The neighborhood in Ferndale with the most apartments available is Downtown Ferndale .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Ferndale, MI?
Because the average rent in Ferndale is $1,407, you’ll want to make about $4,690 per month or $56,280 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Ferndale, MI compare to other nearby cities and neighborhoods?
Use the tool below to compare Ferndale, MI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,728/month
$1,728/month
One Bedroom
$1,881/month
$1,881/month
Two Bedroom
$2,338/month
$2,338/month
Three Bedroom
-
-
Nearby City Rent Trends
Apartment communities in Ferndale we think you'll love
Property Management Companies in Ferndale, MI
The Ferndale Property Management Group, LLC
-
10
Communities
-
1,212
Units
-
6
Cities
3 Communities in Ferndale
BEZTAK Properties
-
108
Communities
-
24,904
Units
-
60
Cities
2 Communities in Ferndale
Modli Management
-
10
Communities
-
326
Units
-
5
Cities
2 Communities in Ferndale
KMG Prestige
-
50
Communities
-
5,313
Units
-
35
Cities
1 Community in Ferndale
MTH Management
-
51
Communities
-
2,877
Units
-
31
Cities
1 Community in Ferndale
Friedman Real Estate
-
41
Communities
-
9,685
Units
-
25
Cities
1 Community in Ferndale
Silverside Management LLC
-
18
Communities
-
767
Units
-
17
Cities
1 Community in Ferndale
Singh Management
-
16
Communities
-
3,572
Units
-
8
Cities
1 Community in Ferndale
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.