Buying In Ann Arbor, MI
Sell Your Commercial Property In Ann Arbor, MI
Skyline Capital Investments buys commercial apartment buildings of 5+ units in Ann Arbor and across Washtenaw County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- 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
Neighborhoods & Nearby Towns: Ypsilanti · Kerrytown · Burns Park · Saline — Washtenaw County, MI
Market Snapshot
Renter Demand In Ann Arbor
Ann Arbor is majority-renter: 54.5% of its 50,499 occupied homes are rented, per ACS 2020-2024 table B25003. Median gross rent is $1,649, and rental vacancy is 3.9%. Buildings with five or more units hold 37.0% of Ann Arbor's homes, versus 13.3% across Michigan.
The University of Michigan anchors demand. U-M enrolled 53,488 Ann Arbor students in fall 2025 and counted 56,276 Ann Arbor faculty and staff, including its hospital. Only 2.6% of Ann Arbor homes were built in 2020 or later, and median household income is $82,212.
This profile covers renters, HUD's FY2027 fair market rents, the apartment stock and local leasing rules. It also works through Washtenaw County taxes on a $2,000,000 building. It is written for owners who want to sell commercial property in Ann Arbor, MI with sourced numbers in hand. If you plan to sell your apartment building in Ann Arbor soon, read the tax and leasing sections first.
University of Michigan enrollment
U-M enrolled a record 53,488 students on its Ann Arbor campus in fall 2025, per the University Record. That total includes 18,130 graduate and professional students.Michigan Medicine and U-M jobs
U-M counted 56,276 Ann Arbor faculty and staff on November 1, 2025, including 22,985 hospital employees. University of Michigan Health lists 1,176 beds for 2025.Thin new housing supply
Only 1,415 Ann Arbor homes, or 2.6%, were built in 2020 or later, per ACS 2020-2024. Rental vacancy is 3.9%, against 5.1% across Michigan.Our Buy Box
What We Buy In Ann Arbor
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.
Local Market Data
Ann Arbor Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Ann Arbor
Renters occupy 54.5% of Ann Arbor's homes, or 27,544 of 50,499 households, per ACS 2020-2024 table B25003. Washtenaw County's renter share is 38.4%, and Michigan's is 26.8%. Ann Arbor holds 47.7% of all Washtenaw County renter households, per the county table.
The University of Michigan sets the pace. U-M enrolled a record 53,488 Ann Arbor students in fall 2025, per the University Record. That is 35,358 undergraduates and 18,130 graduate and professional students.
Jobs add to that demand. U-M counted 56,276 Ann Arbor faculty and staff on November 1, 2025, including 22,985 hospital employees, per its Office of Budget and Planning. Ann Arbor's population is 122,036 in the ACS 2020-2024 estimates. Ypsilanti and Saline are separate Census places, so their renters fall outside the Ann Arbor counts.
Rents and affordability in Ann Arbor
Median gross rent in Ann Arbor is $1,649 a month, per ACS 2020-2024 table B25064. That is 46.1% above Michigan's $1,129 median. Ann Arbor's median household income is $82,212, so a median rent equals 24.1% of a median income.
Rent burden is heavy in Ann Arbor. In table B25070, 56.9% of Ann Arbor renter households, or 15,660, pay 30% or more of income for rent. Another 35.4%, or 9,763 households, pay 50% or more.
Rental vacancy in Ann Arbor is 3.9%, against 5.1% statewide, per ACS table DP04. Under HUD's FY2027 fair market rents for the Ann Arbor, MI MSA, a two-bedroom is $1,804. That is 9.4% above Ann Arbor's $1,649 median, which blends all unit sizes.
| Unit size | HUD FY2027 FMR |
|---|---|
| Efficiency | $1,458 |
| 1 bedroom | $1,503 |
| 2 bedroom | $1,804 |
| 3 bedroom | $2,164 |
| 4 bedroom | $2,371 |
Source: HUD FY2027 FMR documentation, effective October 1, 2026. Owners selling commercial property in Ann Arbor can test voucher-tenant rents against this table, since source of income is a protected class locally.
Ann Arbor apartment stock
Buildings with five or more units hold 20,101 of Ann Arbor's 54,399 homes, or 37.0%, per ACS table B25024. Washtenaw County's share is 25.6%, and Michigan's is 13.3%. Ann Arbor contains 49.0% of the county's 5+ unit homes.
Ann Arbor counts 7,807 units in 5-9 unit buildings and 4,191 in 10-19 unit buildings. Another 2,450 sit in 20-49 unit buildings, and 5,653 in buildings of 50 or more.
New supply is scarce. Only 1,415 Ann Arbor homes, or 2.6%, were built in 2020 or later, per table B25034. Meanwhile 63.4%, or 34,502 homes, predate 1980, and the median year built is 1971.
Prices reflect that squeeze. Ann Arbor's median owner-occupied home value is $453,400, or 1.96 times Michigan's $231,600. Owners who plan to sell commercial real estate in Ann Arbor, MI are pricing into a market with little new competition.
Property taxes in Washtenaw County
Ann Arbor apartments carried 68.6263 mills in 2025, per the City of Ann Arbor's 2025 millage table for non-principal residence property. Principal residences paid 52.6657 mills. The 15.9606-mill gap comes from the Ann Arbor Public Schools operating levy.
That gap follows MCL 380.1211, which exempts principal residences from school operating mills. The 68.6263 mills cover Washtenaw County, AAATA, City of Ann Arbor, school, library, intermediate district and community college levies. Summer bills are due July 31 and winter bills December 31, per Ann Arbor Treasury.
Michigan assesses property at 50% of true cash value under MCL 211.27a. Taxable value growth is capped at the lesser of 5% or inflation. After a transfer, the taxable value for the next year becomes state equalized value, which Ann Arbor Assessing calls uncapping.
Worked example: a $2,000,000 sale assessed at that price has $1,000,000 of taxable value after uncapping. At 68.6263 mills, the annual bill is $68,626.30, or 3.43% of price. That splits into $53,189.20 in summer and $15,437.10 in winter.
Transfer taxes are one-time costs. Michigan charges $3.75 per $500 under MCL 207.525, or $15,000 on $2,000,000. Washtenaw County's rate is 55 cents per $500 under MCL 207.504, or $2,200.
Assessment appeals go to the March board of review under MCL 211.30. Commercial-class parcels may instead petition the Tax Tribunal by May 31, per MCL 205.735a. Anyone looking to sell commercial property in Ann Arbor, MI should hand buyers this uncapped math up front.
Landlord rules in Ann Arbor
- Security deposits cannot exceed 1.5 months' rent under MCL 554.602. The itemized damage list is due within 30 days after occupancy ends, under MCL 554.609.
- Nonpayment allows a written 7-day notice to quit, and a tenancy at will ends on 1 month's notice, per MCL 554.134.
- Local rent control is barred: MCL 123.411 stops a local unit from enforcing any ordinance controlling private residential rents.
Ann Arbor requires a Certificate of Compliance before any unit is rented, and Rental Housing Services inspects every rental every 30 months. Section 8:530 bars showing a unit or signing the next tenant until 210 days into a lease, per the Early Leasing ordinance.
The same ordinance bars renewal offers earlier than 180 days into a lease and gives tenants at least 30 days to answer. Since January 2025, Section 8:532 caps application fees at $50 and bans pre-tenancy fees. The Renters Commission summary also lists Fair Chance Access to Housing and source-of-income protections.
What it means for an owner in Ann Arbor
Ann Arbor pairs a 54.5% renter share with 3.9% rental vacancy and only 2.6% of homes built since 2020. Buyers will still underwrite the 68.6263-mill tax load, inspection status and the 210-day leasing calendar. A current Certificate of Compliance and a signed renewal ledger shorten due diligence.
To sell commercial property in Ann Arbor, MI on a fixed timeline, begin with the rent roll. Run it through our cap rate calculator and compare the result with the uncapped tax example above.
Skyline Capital Investments buys 5+ unit apartment buildings, including older Ann Arbor properties with deferred work. If you want to sell your apartment building in Ann Arbor, see how our direct purchase process works. We can review several addresses in one offer.
Good To Know
What Shapes A Ann Arbor Offer
More about selling in Michigan →Investing in Ann Arbor? See apartment syndications in Ann Arbor →
- U-M reported a record $2.16 billion in fiscal 2025 research volume, and its Innovation Partnerships office launched 31 new startup companies that year.
- Owners who sell commercial real estate in Ann Arbor, MI should pull Certificate of Compliance records and renewal offers early, since buyers request both.
- Ypsilanti, Saline and Ann Arbor Charter Township are separate Census geographies, so their renters and apartments are excluded from the Ann Arbor city figures above.
- The 2025 millage table covers City of Ann Arbor parcels; 2026 summer non-principal residence levies total 53.3825 mills before the December bill.
Seller Guides
Selling In Ann Arbor? Common Situations We Handle
Learn More
Taxes & Rules For Ann Arbor Property
The Michigan rules that shape any deal in Ann Arbor: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Ann Arbor Seller FAQ
How do I sell commercial property in Ann Arbor, MI without listing it?
Gather a current rent roll, twelve months of income and expenses, your Certificate of Compliance and any renewal offers sent under Section 8:530. A direct buyer can price the building from those records and close on a set date. Skyline Capital Investments buys 5+ unit apartment buildings in Ann Arbor as they stand, so there are no showings or pre-sale repair lists.
Will a sale reset taxes on my Ann Arbor apartment building?
Yes. Under MCL 211.27a, taxable value becomes state equalized value in the year after a transfer, and Ann Arbor Assessing calls this uncapping. State equalized value is 50% of true cash value. On a $2,000,000 building that means $1,000,000 of taxable value and $68,626.30 a year at the 2025 rate of 68.6263 non-principal residence mills.
What transfer taxes apply when I sell in Washtenaw County?
Michigan levies $3.75 per $500 of value under MCL 207.525, which is $15,000 on a $2,000,000 sale. Washtenaw County adds 55 cents per $500 under MCL 207.504, or $2,200 on the same price. Together the two transfer taxes total $17,200 on that sale. Both taxes count each $500 of value, or fraction of $500, in the full sale price.
Can I sell commercial real estate in Ann Arbor, MI while tenants hold renewal rights?
Yes, but expect buyers to study the renewal records. Ann Arbor's Section 8:530 bars renewal offers before day 180 of a lease and gives tenants at least 30 days to respond. It also bars signing a new tenant before day 210 unless the landlord has good cause not to renew. A clean log of offers and replies helps you sell multifamily property in Ann Arbor on schedule.
Can Ann Arbor cap the rent I charge?
No. MCL 123.411 says a local unit shall not enact, maintain or enforce an ordinance controlling rent on private residential property. Ann Arbor does regulate other costs: Section 8:532 caps rental application fees at $50 and bans pre-tenancy fees such as holding and move-in fees. State law caps security deposits at 1.5 months' rent.
Will you buy a Ann Arbor property that needs work or has high vacancy?
Yes. We regularly evaluate value-add, mismanaged, and distressed multifamily properties and underwrite them as they are today — no repairs or lease-up required before selling.
How does a sale to you work in Washtenaw County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Can I sell rental property in Ann Arbor with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
What do I need to sell my apartment building in Ann Arbor?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
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Get An Offer Review In Ann Arbor
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