Michigan Bill May Cap Rent and Save Renters A Lot of Money

As a person who rents right now, I'm looking for any break to save myself a few bucks. Thankfully, Michigan is far more affordable than a lot of other states in the rest of the country... but it's still not great.

Recent statistics say for a person to live comfortably in Michigan, with a 2-bedroom home, they would need to make around $90,000. I highly doubt that's what MOST of us are making, especially people who rent apartments and homes. But there may be some light at the end of the tunnel.

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A new bill proposed would help keep rent at an affordable level in Michigan. Right now in Kalamazoo alone, experts estimate rent has gone up almost 45% since the pandemic. Some people are dedicating half of their income to just having a place to live, and grown adults are inquiring about roommates to split costs.

But Michigan Legislature may soon be able to help.

This new bill will hopefully align Michigan with California, maryland, New Jersey, New York, Minnesota, Oregon, and the District of Columbia to put a cap on rent costs.

The bill doesn't look to cap rent at a certain number and stop, but rather would give control to municipalities to cap the amount a renter could increase rent each year.

Most rentals in the Kalamazoo area seem to average around $1,200 a month for just a one bedroom, one bath. This according to Rentcafe, which monitors rental prices in your area.

Renters have been known, in the area, to raise rent as much as $200 a month in one fail swoop, essentially pricing some people out of their homes.

In order for this bill to pass, it must first go through a Housing subcommittee, then get approval from a full committee to be brought to the floor for a vote. If approved there, it would go from the House, to the State Senate, and then assuming it passes there, it would then be signed by the governor.

At this time, Michigan is still one of the more affordable states to live in, but with this bill, they hope to avoid becoming like New York, California, and many other states where it's almost too little, too late to make housing affordable.