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City Report · MI

Lapeer

Pop. 9,082·59th most expensive in Michigan·Rental market data updated monthly for Lapeer, MI
Median rent (all units)
$1,440/mo
Year-over-Year
Stable
Month-over-Month
+7.0%
vs US Median
-$525
Rising (Monthly)
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Most AffordableMost Expensive
Lapeer · $1,440
More affordable than 79% of US cities · National median $1,965/mo
Affordability
33% of income
MODERATE
0%30% benchmark60%+

At $1,440/mo, rent takes about 33% of the local median household income, slightly above the 30% benchmark.

Income to afford
$58,000/yr
Local median income
$52,716/yr
Based on the 30%-of-income rule using Lapeer's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$860
1 BR
$940
2 BR
$1,190
3 BR
$1,460
4 BR+
$1,580
Research median
$1,190/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$17,280/yr
At $1,440/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +7.0% MoM), not inventory.
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Demographics

Who lives here

Lapeer, MI is roughly split between renters and owners, has a median income below the national average, 16.5% of residents hold a bachelor's degree or higher.

Population
9,082
Median income
$52,716
Median age
39.8
Renters
49.5%
Age distribution
20.2%
22.6%
27.1%
12.7%
17.3%
Under 1820.2%
18–3422.6%
35–5427.1%
55–6412.7%
65+17.3%
Gender
53.4%
46.6%
Male53.4%
Female46.6%
Race & ethnicity
78.2%
White78.2%
Black8.7%
Hispanic5.6%
Asian0.7%
Other6.8%
Education (25+)
12.6%
35.8%
35.1%
16.5%
No HS diploma12.6%
HS diploma35.8%
Some college35.1%
Bachelor's+16.5%
Housing tenure
50.5%
49.5%
Owner50.5%
Renter49.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Lapeer, MI has changed in 5 years

Income
$47,990 → $52,716
up 9.8%
Population
8,911 → 9,082
up 1.9%
Renter share
46.9% → 49.5%
+2.6 pts
Bachelor's+
12.5% → 16.5%
+4.0 pts
Median age
40.4 → 39.8
-0.6 yrs

Local incomes tracked alongside that move, going from a median of $47,990 in 2021 to $52,716 more recently. Headcount in the area went from 8,911 to 9,082 between 2021 and 2024, a 1.9% change. About 49.5% of households rent today, against 46.9% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 12.5% to 16.5%.

Community

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View Lapeer rent history (2015–2026) →
Salary vs rent

Can you afford rent in Lapeer on your salary?

At $1,440/mo, how Lapeer rent compares to typical pay (30% rule).

By apartment size

Lapeer rent by bedroom count

Median rent for each apartment size in Lapeer. Click any size for full breakdown.

Local insights

Tips for renters in Lapeer

About renting in Lapeer, MI

Last updated: July 20, 2026

The median rent in Lapeer is $1,440/mo as of July 2026. A studio apartment averages $860/mo while a 2-bedroom runs $1,190/mo. One-bedroom apartments average $940/mo and 3-bedroom units go for $1,460/mo.

At 33% of local median household income ($52,716/yr), Lapeer ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Lapeer an affordable city for renters?

Lapeer is considered moderate for renters. At $1,440/mo, rent takes approximately 33% of the local median household income ($52,716/yr). The standard benchmark is 30%. Lapeer slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Lapeer?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (~$28/hour full-time) to afford the median rent of $1,440/mo in Lapeer. The local median household income is $52,716/yr, meaning the typical Lapeer household falls short of that threshold.

Is rent going up or down in Lapeer?

Rent in Lapeer has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Lapeer rent compare to other cities in Michigan?

Lapeer is middle-of-the-pack for Michigan for rent, ranking #59 out of 95 tracked cities at $1,440/mo.

Which nearby cities are cheaper to rent in than Lapeer?

Several nearby cities have lower median rents than Lapeer ($1,440/mo): Grand Blanc ($1,080/mo), Pontiac ($1,296/mo), Waterford ($1,297/mo).

What percentage of Lapeer residents rent vs. own?

According to Census data, approximately 49.5% of Lapeer households are renters, while 50.5% are owner-occupied. Lapeer leans toward homeownership, which can mean a smaller rental inventory.

How does Lapeer rent compare to the national average?

Lapeer's median rent of $1,440/mo is $525 (27%) below the US national median of $1,965/mo. Within Michigan, it ranks #59 out of 95 tracked cities.
Income Affordability
33%
MODERATE

At $1,440/mo, rent takes ~33% of Lapeer's median household income ($52,716/yr). The standard benchmark is 30%.

Lapeer 33%Benchmark 30%
State income tax4.25%
Run the Lapeer affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lapeer, MI

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