It's a simple matter of supply and demand. The higher the demand, the lower the supply, the higher the cost.
Living in and around the Ann Arbor area maybe expensive but those high rental rates are proof that the county's economic situation is better than the rest of the state. Washtenaw County's average rental rates are the highest in Michigan, according to a new study, which also shows just how in demand Tree Town has become.
Excerpt:
Washtenaw and Livingston counties remain the two most expensive areas in the state to be a renter, according to a national report.
The cost of rent and utilities, known as the fair market rent, for a two-bedroom housing unit in the Ann Arbor metropolitan area is $942. For Livingston County's metropolitan area, it is $894.
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