Michigan is bordered by four Great Lakes, making it a popular destination for boating and water activities. Michigan is also home to many national parks, including Isle Royale National Park and Sleeping Bear Dunes National Lakeshore. Explore the state's rich heritage through visits to renowned museums such as the Henry Ford Museum and the Michigan Historical Museum or get an excellent education at top universities like Michigan State University and the University of Michigan. In addition, Michigan boasts a robust economy in the manufacturing, technology, and tourism industries.

The state provides numerous opportunities for thrills and excitement. From soaking in the stunning views of the Great Lakes to hitting the ski slopes in the nearby mountains, outdoor enthusiasts will find plenty to love. Additionally, Michigan is home to several sports teams, including the Detroit Lions (NFL), Detroit Red Wings (NHL), Detroit Tigers (MLB), and Detroit Pistons (NBA). Explore famous attractions like Mackinac Island, the Detroit Institute of Arts, and scenic Mackinaw City.

Michigan offers a high quality of life, a strong economy, and a welcoming community, making it a great place to live.

Rental Market Trends

South Lyon, MI

As of January 2026, South Lyon's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. South Lyon's average rent is 2.6% ($37) lower than the Michigan average of $1,424 and 21.1% ($372) lower than the U.S. average of $1,759.

Average Rent

$1,387

Monthly ChangeMonth Over Month Change

3.8% ($51)

Yearly ChangeYear Over Year Change

3.2% ($46)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,122	2.5% ($27)	3.5% ($41)
2 Beds	$1,481	1.3% ($19)	0.8% ($12)
3 Beds	$2,028	19.3% ($328)	4.1% ($79)

Nearby Cities	Average Rent	Avg. Rent vs. South LyonAverage Rent vs. South Lyon	Avg. Days on MarketAverage Days on Market
Northville	$1,946	40.3% ($559)	39 days
Plymouth	$1,368	1.4% ($19)	40 days
Wixom	$1,500	8.1% ($113)	32 days
Brighton	$1,215	12.4% ($172)	39 days
Novi	$1,599	15.3% ($212)	37 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

South Lyon Rental Market FAQs

Explore rental prices, market trends, and availability in South Lyon, MI.

What is the average rent in South Lyon, MI?

The average rent in South Lyon, MI is $1,387 per month.

What is the rental price range for homes in South Lyon, MI?

Homes in South Lyon typically rent for between $785 and $2,636 per month, with an average of $1,387 per month.

What is the average rent for different bedroom sizes in South Lyon, MI?

In South Lyon, the average rent for a 1-bedroom home is $1,122 per month, for a 2-bedroom home, $1,481 per month, and a 3-bedroom home is $2,028 per month.

How do rent prices in South Lyon, MI compare with the national average?

The average rent in South Lyon is 21.1% ($372) lower than the national average of $1,759 per month.

How have rent prices in South Lyon, MI changed recently?

The average rent in South Lyon has increased by 3.8% ($51) in the last month and decreased by 3.2% ($46) over the past year.

How competitive is the rental market in South Lyon, MI?

The rental market in South Lyon, MI, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in South Lyon, MI?

In South Lyon, MI, the average rental stays on the market for approximately 36 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in South Lyon, MI?

There are currently 3 rental properties available in South Lyon, MI.

Can I afford to rent a home in South Lyon, MI?

Based on the current averages, a household would need an annual income of $59,240 to comfortably afford a 2-bedroom home in South Lyon.