Detroit Luxury Apartment, Condo And Loft Rents Skyrocket Despite City Bankruptcy (PHOTOS)

Bankrupt City.. Skyrocketing Rents?!
|
Open Image Modal

Detroit might be bankrupt, but you can still spend a small fortune on rent.

The city famous for homes as cheap as a $1 has also recently seen some high-priced rents that could give you a serious case of sticker shock. Two-bedroom apartment rentals in the Detroit-Ann Arbor-Flint area have increased over 3 percent annually since 2011, according to apartmentrentals.com. The site reports that its average listings for two-bedroom apartments in Detroit jumped 7.6 percent in 2012 and 4.6 percent so far this year.

But to renters in cities like New York and San Francisco, some of these luxe accommodations might still seem like a deal. In Detroit, $6,900 monthly rent is certainly steep -- but this property is literally a deluxe penthouse apartment in the sky. From stunning mansions to stately vintage condos and secluded lakefront homes, the town's new crop of luxury living options has a little something for everybody.

While all these swank leases might seem strange for a city in the midst of a bankruptcy trial, they'll soon be joined by new apartments and condos that give people living near downtown Detroit more cosmopolitan living options. The biggest projects on the city's development scene right now include the historic David Whitney Building renovation in Grand Circus Park, new townhouses and apartments planned for a district on the East Riverfront, market-rate apartments at the Griswold Building in Capitol Park and the Millender Center apartment renovation across from the Renaissance Center in the heart of downtown. The focus on development may be a promising direction for the city's greater downtown area, though most of Detroit's neighborhoods aren't yet seeing the same investment.

Click through the slideshow to see a few of the high-priced properties available to lease in Detroit, and let us know if any might make you consider renting digs in Detroit.

Our 2024 Coverage Needs You

As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.

Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.

to keep our news free for all.

Support HuffPost

Before You Go

Detroit's Bankrupt... But Luxury Rents Are Skyrocketing!
Downtown Penthouse: $6,900/mo(01 of23)
Open Image Modal
Clocking in at $6,900/mo, there's a high price for living in the sky! But you can't beat that view of downtown and the Detroit River. (credit: Courtesy of The Loft Warehouse)
Downtown Penthouse: $6,900/mo(02 of23)
Open Image Modal
This 3 BR, 3 BA unit has 5,000 sq. ft of penthouse space, with views of Detroit's Belle Isle and the Ambassador Bridge. (credit:Courtesy of The Loft Warehouse)
Downtown Penthouse: $6,900/mo(03 of23)
Open Image Modal
But this colossal unit at 100 Riverfront Drive is actually five separate units combined, giving its future lucky owner 17 rooms and two private outdoor balconies. (credit:Courtesy of The Loft Warehouse)
Downtown Penthouse: $6,900/mo(04 of23)
Open Image Modal
The complex offers residents a gym, private People Mover station, 24/7 security, hair salon, restaurant, grocery store and marina. (credit:Courtesy of The Loft Warehouse)
Downtown Penthouse: $6,900/mo(05 of23)
Open Image Modal
Interested in this property? Contact The Loft Warehouse in Detroit for more information. (credit:Move.com)
Secluded Marina Stunner: $3,000/mo(06 of23)
Open Image Modal
Waterfront living on Lake St. Clair? With its own access for boats up to 50', this sprawling property is a boater's dream. (credit:Courtesy of The Bedford Group)
Secluded Marina Stunner: $3,000/mo(07 of23)
Open Image Modal
This home is part of the exclusive Shorepoint Village residences, located on the mouth of Lake St. Clair and the Detroit River. This residence has a boat slip that accommodates a 50' cruiser -- perfect for navigating all the fantastic Great Lakes, rivers and bays around Detroit. (credit:Move.com)
Secluded Marina Stunner: $3,000/mo(08 of23)
Open Image Modal
This 3 BR, 2.5 BA beauty with 3,181 square feet of space has a for-sale price tag of $415,000, but the owners will consider furnished short-term leases of $3500/week or a $3,000/mo long-term lease, according to The Bedford Group, listing agent of the property. (credit:Move.com)
Secluded Marina Stunner: $3,000/mo(09 of23)
Open Image Modal
This property is just two minutes away from the Grosse Pointes, and offers 24-7 manned security and a community pool. For more information, contact The Bedford Group. (credit:Move.com)
Mansion Reimagined: $1,900/mo(10 of23)
Open Image Modal
This historic mansion-turned condominium is just dripping with Detroit character. 291 Edmund Place is in Brush Park, sandwiched between Midtown and downtown Detroit (and a short walk to the new Whole Foods!). (credit:Move.com)
Mansion Reimagined: $1,900/mo(11 of23)
Open Image Modal
Hardwood floors, exposed brick and stainless steel appliances are a few of the draws to this 2,200 square foot condo, which has two living floors for entertaining. It also has two bedrooms and two-and-a-half baths. (credit:Courtesy of The Loft Warehouse)
Mansion Reimagined: $1,900/mo(12 of23)
Open Image Modal
The master bath has a glass-walled shower, Jacuzzi tub and walk-in closet. (credit:Courtesy of The Loft Warehouse)
Mansion Reimagined: $1,900/mo(13 of23)
Open Image Modal
This two-level condo also has a private garage and two private entrances. Contact The Loft Warehouse for more information. (credit:Courtesy of The Loft Warehouse)
Palatial Palmer Woods Tudor: $3,000/mo(14 of23)
Open Image Modal
Live like the auto barons did in this sprawling 1930 Tudor at 1900 Strathcona, which is also on the market for $499,999. (credit:Move.com)
Palatial Palmer Woods Tudor: $3,000/mo(15 of23)
Open Image Modal
5,520 sq. ft. of Art Deco-era custom art tile, plaster detailing, woodworking and stained glass would be yours. This sprawling manse has seven bedrooms, four full baths and two half baths. (credit:Move.com)
Palatial Palmer Woods Tudor: $3,000/mo(16 of23)
Open Image Modal
It's not quite like stepping back into the 1930s, thankfully. Newer improvements include an updated kitchen, finished lower level and central air. (credit:Move.com)
Palatial Palmer Woods Tudor: $3,000/mo(17 of23)
Open Image Modal
Your dream mansion is for sale in Detroit's stately Palmer Woods neighborhood, on the northern edge of the city's border. Contact listing agent Kenan Bakirci for more information. (credit:Move.com)
Sprawling Gold Coast Condo: $1,850/mo(18 of23)
Open Image Modal
The Gold Coast neighborhood, located east of downtown, is Detroit's historic waterfront community. This spacious condo at Indian Village Manor has plenty of room to enjoy river views -- 3 bedrooms, 2.5 baths and 2,380 sq. ft. (credit:Move.com)
Sprawling Gold Coast Condo: $1,850/mo(19 of23)
Open Image Modal
This historic sixth-floor unit includes all the utilities in the rent -- what a deal! There's also 24-7 security, one garage parking space and another space in the private lot. (credit:Move.com)
Sprawling Gold Coast Condo: $1,850/mo(20 of23)
Open Image Modal
Love vintage glamour? This unit boasts original marble and ceramic bathrooms, a sun room with built-in book shelf and storage galore. (credit:Move.com)
Sprawling Gold Coast Condo: $1,850/mo(21 of23)
Open Image Modal
Ready to live the glamorous life? Contact The Loft Warehouse for more information. (credit:Move.com)
Imperious Executive Digs: $2,900/mo(22 of23)
Open Image Modal
Hotel living, apartment privacy. The Ft. Shelby Tower Apartments are located inside the Ft. Shelby DoubleTree Suites in the heart of downtown Detroit's business district. This apartment has all sorts of luxury amenities to make you feel like a guest in your own home: valet parking, room service, wake-up calls, and maid service. There's also a Finn & Porter restaurant and coffeeshop inside. (credit:Move.com)
Imperious Executive Digs: $2,900/mo(23 of23)
Open Image Modal
This luxury residence, with 2 bedrooms and 2 baths, has granite countertops, designer cabinetry, Travertine-tiled master baths and over 1,400 sq. ft of space. Visit the listing for more information. (credit:Move.com)

HuffPost Shopping’s Best Finds

MORE IN LIFE