Detroit Trends and Statistics 2018-2019

In this section you will learn about the three leading factors that make Detroit one of the most powerful real estate markets today, including: affordable apartment prices, strong rental income from rent and the potential for capital growth. Check out Detroit's housing, population and employment trends on the tabs to learn more.

Sources of information:

• https://www.zillow.com/detroit-warren-dearborn-metro-mi_r394532/home-values/
• Real Affiliate Data of a Real Wealth Network
• https://factfinder.census.gov/
• https://www.deptofnumbers.com/employment/michigan/detroit/

Detroit is cheaper than many other U.S. markets today.

• In January 2018 the median price of 3-bedroom homes in the Detroit metro area was $ 190,000. This is 6% lower than the $ 202,000 national average.
• However, in neighborhoods where members of the Wealth Real chain are investing the median price of 3-bedroom homes in January 2018 was only $ 79,962. This is 61% lower than the national average.
• This shows us that real estate in Detroit is cheaper than many other US markets today. This is especially true in the Detroit neighborhoods where members of the Wealth Real network invest.

It is possible to generate more monthly income from rent in Detroit than today in most cities in the US

• In January 2018, the median monthly rental of 3 bedrooms in Detroit was $ 1,405, which is 0.74% of the purchase price of $ 190,000. This is slightly higher than the national purchase and rent ratio of 0.71%.
• In neighborhoods in Detroit where members of the Wealth Real chain invest the median monthly rent for single-family homes with 3 bedrooms was $ 942 in January 2018. This is 1.18% of the purchase price, which is significantly higher than the national average.
• It shows us that Detroit offers investors a strong opportunity to generate rental income relative to a rent purchase significantly higher than the national average.

Detroit's home values ​​quickly appreciated.

• In January 2012 the median price of 3-bedroom homes in Detroit was $ 104,000. This means that in the last six years (January 2012 to January 2018), homes with 3 bedrooms in Detroit have been rated by a whopping 68%. At that time, 3-bedroom homes grew by only 41% nationwide.

Detroit's median monthly rent has risen steadily over the past six years.

• Between January 2012 and January 2018 the average rent for 3-bedroom homes in Detroit rose by 18%, which is also above the national average of 17% during this period.
• This shows us that there is a strong opportunity for stock growth and increased revenue potential over time in the Detroit area.

Detroit's population is growing very slowly.

• Since 2010 the Detroit population has grown by only 0.50%. During that period the national population grew by 5.29%.
• Despite very slow growth, the Metro in Detroit still surpasses similar markets in attracting thousands of educated years; This is probably due to a number of research universities in the area, including Wayne University.
• Detroit also has several billionaires on its side, including Dan Gilbert (CEO of Quick Loans) and Mike Ilyich (owner of the small Caesar Pizza chain, Detroit Red Wings and Detroit Tigers) who have pledged more than $ 4 billion to help the city. CPR efforts.
• All this attention from the thousands of billionaires and billionaires is a good sign that future growth in Detroit is expected.

Detroit creates jobs, but not as many as other markets.

• In the past year, the number of jobs in Detroit has increased by 0.76%. This is lower than the annual growth rate in the US of 1.73%.
• Despite very slow growth, the Metro in Detroit still surpasses similar markets in attracting educated millennials. This is likely due to a number of research universities in the area, including Wayne State University.

Detroit is very lucrative

• In the Detroit neighborhoods where members of the Wealth Real chain are investing the median price of 3-bedroom homes in January 2018 was only $ 79,962. This is 61% lower than the national average.
• This shows us that real estate in Detroit is cheaper than many other US markets today. This is especially true in the Detroit neighborhoods where members of the Wealth Real network invest.

Detroit has strong opportunities from rental income

• Neighborhoods in Detroit where members of the Wealth Real chain invest the median monthly rent for single-family homes with 3 bedrooms was $ 942 in January 2018. This is 1.18% of the purchase price, which is significantly higher than the national average.
• It shows us that Detroit offers investors a strong opportunity to generate rental income relative to a rent purchase significantly higher than the national average.

Detroit appreciates quickly

• For the past six years (January 2012 to January 2018), Detroit 3-bedroom homes have received a whopping 68% rating. At that time, 3-bedroom homes grew by only 41% nationwide.
• During that time the average rent for 3-bedroom homes in Detroit rose by 18%, which is also above the national average of 17% during that period.
• This shows us that there is a strong opportunity for stock growth and increased revenue potential over time in the Detroit area.

Millionaires and billionaires love Detroit

• Despite a very slow population and overall job growth, Detroit has attracted more educated millennials than similar cities across the state.
• In addition, when investors like Dan Gilbert invest billions in rebuilding and expanding companies, it looks like future growth in Detroit may emerge.