Michigan Multifamily Buyer
Sell Your Commercial Property In Michigan
Michigan offers value pricing, a revitalizing Detroit, and university and healthcare markets across the state — with property tax rules that reward careful underwriting.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Key Metros
Multifamily Markets In Michigan
Every City We Cover
Browse Michigan By County
Allegan County
Calhoun County
Clinton County
Jackson County
Midland County
Ottawa County
Saginaw County
St. Clair County
Washtenaw County
We also buy in Traverse City, and communities statewide.
Local Market Data
Michigan Apartment Market
Figures gathered October 2026 from public market data.
To sell commercial property in Michigan, start with the figures buyers price against. Statewide median gross rent was $1,129 a month and rental vacancy 5.1%, per the Census Bureau's 2020-2024 American Community Survey. Renters occupy 26.8% of occupied Michigan homes, and 13.3% of all Michigan housing units sit in buildings with five or more units. Median household income was $72,875.
Averages hide wide gaps between counties. Oakland County posts a $1,376 median gross rent, while Bay County sits at $860 and Macomb County runs 2.9% vacancy. Below, Michigan rents, five-year trends, county figures and the state's landlord and tax rules sit side by side, so an owner can see how a buyer will read a building before any offer arrives, and what the sale will cost.
Rent growth
Michigan median gross rent rose 29.6%, from $871 to $1,129, between the 2015-2019 and 2020-2024 ACS periods, per Census table B25064.Larger-building stock
Units in Michigan buildings with five or more units rose 3.0% to 616,500 between the two ACS periods, per Census table B25024.Household income gains
Michigan median household income rose 27.5%, from $57,144 to $72,875, between the 2015-2019 and 2020-2024 ACS periods, per table B19013.The Michigan rental market at a glance
Michigan had 1,092,179 renter households in the Census Bureau's 2020-2024 American Community Survey, or 26.8% of 4,076,369 occupied homes. That is a lower renter share than most large states. Buildings of five or more units hold 616,500 Michigan housing units, 13.3% of the total, per ACS table B25024.
Michigan rental vacancy stood at 5.1% in the 2020-2024 DP04 housing profile. The $1,129 median gross rent equals about 18.6% of the $72,875 median household income. Even so, 50.4% of Michigan renter households paid 30% or more of income on rent, per table B25070.
Five-year trends in Michigan
Michigan median gross rent rose 29.6% between the 2015-2019 and 2020-2024 ACS periods, from $871 to $1,129 a month. Median household income grew 27.5% over the same span, from $57,144 to $72,875. Rents outran incomes by 2.1 percentage points.
Michigan lost 40,163 renter households between the two periods, a 3.5% decline, even as the population edged up 1.1%. Units in five-plus buildings still rose 3.0%, adding 18,124 units. Fewer renters now share a slightly larger apartment stock, which is worth weighing when a buyer underwrites future demand.
Trends differ by county. Muskegon County lost 10.8% of its renter households, while Kent County gained 4.3%. Kent County rents rose 38.3%, the steepest of the nine counties below.
Michigan county comparison
Median gross rent across the nine Michigan counties profiled here ranges from $860 in Bay County to $1,376 in Oakland County. Rental vacancy runs from 2.9% in Macomb County to 7.4% in both Muskegon and Oakland counties, per 2020-2024 ACS figures.
| County | Median gross rent | Renter share | Share of units in 5+ buildings | Rental vacancy |
|---|---|---|---|---|
| Wayne County | $1,132 | 35.2% | 16.1% | 4.6% |
| Oakland County | $1,376 | 27.3% | 18.4% | 7.4% |
| Macomb County | $1,211 | 25.0% | 14.4% | 2.9% |
| Kent County | $1,243 | 29.7% | 17.5% | 4.3% |
| Genesee County | $989 | 29.3% | 11.9% | 3.2% |
| Ingham County | $1,084 | 40.5% | 26.1% | 5.6% |
| Kalamazoo County | $1,093 | 35.5% | 22.6% | 5.3% |
| Muskegon County | $1,028 | 21.9% | 9.1% | 7.4% |
| Bay County | $860 | 23.0% | 10.0% | 3.9% |
Ingham County, home to Lansing, is the most renter-heavy at 40.5% and has the largest share of units in five-plus buildings, at 26.1%. Macomb County is the tightest market at 2.9% vacancy.
Michigan landlord, tax and transfer rules
Michigan bars local rent control. MCL 123.411 prohibits any local ordinance that controls the amount of rent on private residential property, so owners set rents without a municipal cap.
Michigan caps security deposits at one and a half months' rent under MCL 554.602. A landlord must mail an itemized damages notice within 30 days after the tenant leaves. Buyers will ask for deposit records, so keep them current.
Michigan assesses property at 50% of true cash value, and taxable value normally rises no faster than the lesser of 5% or inflation under MCL 211.27a. After a transfer of ownership, taxable value resets to the assessed value the following year. A buyer's tax bill can therefore exceed yours.
Michigan charges a state transfer tax of $3.75 per $500 under MCL 207.525, plus a county tax of $0.55 per $500 in counties under 2,000,000 people. The seller pays it. On a $2,000,000 sale in such a county, that is $15,000 state plus $2,200 county, or $17,200.
What this means if you sell in Michigan
Owners who sell commercial property in Michigan are priced on rent rolls, vacancy and the buyer's post-sale tax bill. A building in Macomb County at 2.9% vacancy reads differently than one in Oakland County at 7.4%.
Because Michigan resets taxable value after a transfer, we model the buyer's uncapped bill rather than your current one. We also net out the seller-paid transfer tax, since it comes straight off proceeds.
We review Michigan buildings of five or more units in the nine counties above and across the rest of Michigan. Send the rent roll and the latest Michigan tax statement, and we will set the property against these county figures.
Local Knowledge
Selling Multifamily In Michigan
Every state has its own tax, legal, and market dynamics. A few things we factor into every Michigan offer:
- Michigan resets taxable value to assessed value after a transfer, so a buyer's tax bill can exceed yours under MCL 211.27a.
- No Michigan city can control rents; MCL 123.411 bars local rent control on private residential property.
- Michigan security deposits are capped at 1.5 months' rent, with itemized damages notices due within 30 days of move-out.
- Sellers owe Michigan transfer tax of $3.75 per $500 to the state plus the county rate, due within 15 days.
Seller Guides
Your Situation, Handled — Michigan
From The Blog
Michigan Market Insights
Our Buy Box
What We Buy In Michigan
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
How Selling To Us Works
- 01
Submit The Deal
Send the address, unit count, asking price, and a rent roll or T-12 if you have them.
- 02
Initial Review
We review it against our buy box and give clear feedback — typically within 48 hours.
- 03
Underwriting & LOI
If it fits, we underwrite in detail and submit a written letter of intent.
- 04
Diligence & Close
Inspections and financing on the agreed timeline, then a professional, predictable closing.
Michigan Seller FAQ
What should I check before I sell commercial property in Michigan?
Start with rents and vacancy, since buyers do. Michigan median gross rent was $1,129 a month and rental vacancy 5.1% in the Census Bureau's 2020-2024 ACS. Then check taxable value, because MCL 211.27a resets it to assessed value after a transfer.
Does Michigan charge a transfer tax when an apartment building sells?
Yes. The state tax is $3.75 per $500 under MCL 207.525, plus a county tax of $0.55 per $500 in counties under 2,000,000 people. The seller pays. On a $2,000,000 sale that comes to $17,200.
Can Michigan cities limit how much I raise rents?
No. MCL 123.411 prohibits local ordinances that control the amount of rent on private residential property, with narrow carve-outs for city-owned property and voluntary incentive programs. Michigan apartment owners set rents without a municipal cap.
Which Michigan counties have the tightest rental markets?
Among the nine Michigan counties profiled here, Macomb County had the lowest rental vacancy at 2.9%, followed by Genesee County at 3.2% and Bay County at 3.9%, per the 2020-2024 ACS. Muskegon and Oakland counties had the highest, both at 7.4%.
How do I sell commercial property in Michigan?
Send us the address, unit count, and a rent roll if you have one. We review Michigan apartment buildings of 5+ units against our buy box and give clear feedback, typically within 48 hours.
Do you buy apartment buildings everywhere in Michigan?
Yes. We evaluate multifamily properties statewide, including Detroit, Grand Rapids, Lansing, Ann Arbor, Kalamazoo, Allen Park, Auburn Hills, Bay City, smaller cities, and suburban markets. Every property is reviewed on its own fundamentals.
What types of Michigan multifamily properties do you buy?
Apartment buildings and income-producing residential properties with 5 or more units — stabilized, value-add, mismanaged, or distressed. Our sweet spot is 15–25 units, and we review larger communities with capital partners.
Who buys occupied rental property in Michigan?
We do. Skyline Capital Investments is a commercial real estate buyer of 5+ unit multifamily, and we buy apartment buildings with tenants in place, including properties with below-market rents.
Do I need a broker to sell my apartment building in Michigan?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
Do I need to make repairs before selling?
No. We underwrite properties as they are today, including deferred maintenance and vacancy.
From The Blog
Michigan Market Insights
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Neighboring States
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