www.zillow.com/research/

APRIL2019 Detroit Metro

National Rents

Current: $1,477Monthly Change: 0.2%Annual Change: 2.6%

Detroit Metro Rents

Current: $1,228Monthly Change: 0.2%Annual Change: 2.7%

Breakeven Horizon1.6 years

Major Cities - Rents

DetroitCurrent: $797Monthly Change: 0.3%Annual Change: 6.4%Breakeven Horizon: 0.3 years

WarrenCurrent: $1,211Monthly Change: 0.4%Annual Change: 1.3%Breakeven Horizon: 1.3 years

Sterling HeightsCurrent: $1,530Monthly Change: 0.3%Annual Change: 7.7%Breakeven Horizon: 2.1 years

ClintonCurrent: $1,292Monthly Change: 0.2%Annual Change: 2.8%Breakeven Horizon: –

DearbornCurrent: $1,124Monthly Change: -0.1%Annual Change: 2.2%Breakeven Horizon: –

Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community

City ZRI Year-over-Year-7.0% - -3.9% -3.8% - -1.6% -1.5% - -1.1% -1.0% - -0.1% 0.1% - 1.5% 1.6% - 3.2% 3.3% - 5.0% 5.1% - 7.0% 7.1% - 11.8%

Metro Cities: Top/Bottom by Annual Rent AppreciationTop:Algonac 11.8%

Wayne 10.5%

Pinckney 10%

Redford 9.8%

China 9.4%

Bottom:Grosse Pointe Shores -8.3%

Dryden -7%

Romeo -6.9%

Metamora -5.4%

New Baltimore -4.8%

Metro Neighborhoods: Top/Bottom by Annual Rent AppreciationTop:Sherwood Forest 18.3%

Woodbridge 16.2%

Virginia Park 12.3%

Hubbard-Richard 12%

Rivertown 11.1%

Bottom:Palmer Woods -3.9%

Wayne State -2.2%

Indian Village -0.2%

NW Goldberg 0.7%

Belmont 1.3%

How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The

ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices

are above this number and half are below.

What is the Breakeven Horizon? The Breakeven Horizon in the number of years you

must live in a home before owning the same home becomes more financially advantageous

than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years,

it is financially better for you to rent in ’City X’ unless you plan on living there for more

than 5.5 years.

APRIL2019

*Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at

www.zillow.com/research/data or by emailing press@zillow.com

Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.

www.zillow.com/research/

Largest Cities Covered by Zillow

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Bloomfield Hills 2.7 2,745 -1.7 2,000 1.2Brighton 1,867 5.8 1.1Canton 1.9 1,792 5.5 1,700 1Chesterfield 1.7 1,344 0.3 1,150 0.9Clarkston 2.1 1,881 -0.4 1Clinton 1,292 2.8 1Dearborn 1,124 2.2 1,250 0.8Dearborn Heights 1.4 1,126 2.8 1,150 1Detroit 0.3 797 6.4 850 0.8Farmington Hills 2 1,915 0.7 1,500 1Howell 2.2 1,668 9 1Livonia 2.1 1,423 6.5 1,460 1.1Macomb 2.2 1,942 2.1 1,450 1Northville 2.4 2,501 -4.1 1,750 1.1Novi 2 2,117 -0.6 2,080 1.1

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Pontiac 995 6 900 0.9Redford 1 1,045 9.8 1,050 0.9Rochester Hills 2.3 2,094 2.4 1,800 1Roseville 0.9 1,082 6.2 1,000 1Royal Oak 1.8 1,672 1.3 1,680 1.4Saint Clair Shores 1.5 1,236 3.1 1,240 1.1Shelby 2.1 1,571 -1 1,400 1Southfield 1.3 1,455 4.4 1,300 0.9Sterling Heights 2.1 1,530 7.7 1,300 1Taylor 1 1,002 0.5 980 0.9Troy 2.2 2,056 1 1,850 1.1Warren 1.3 1,211 1.3 1,000 1Waterford 1.7 1,383 4.9 1,250 1.1West Bloomfield 2.1 2,173 2.7 2,100 1Westland 1.5 1,139 3.7 1,000 1

Largest Neighborhoods Covered by Zillow

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Bagley 898 5.8 940 0.6Barton 784 4.7 0.7Boynton 800 6.8 0.9Brightmoor 791 5.6 1East English Village 842 5.9 0.8Elmwood Park 1,131 8.8 0.7Fitzgerald 778 3.9 0.6Franklin Park 782 4.4 0.9Grandale 761 2.7 0.9Islandview 844 6.3 0.5

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Jefferson Chalmers 814 3.2 0.6Midtown 1,241 9.7 0.9Morningside 812 2.8 900 0.6North Rosedale Park 1 1,010 6.4 0.6Northeast Corner 1.8Regent Park 797 3.9 0.9Riverdale 802 3.5 0.9Southwest Detroit 833 8.3 0.6Springwells 803 7.2 0.7Warrendale 781 4.3 800 1