2019-2020 Housing Market Overview

Detroit Real Estate Market 2020

On this page you'll learn about the Detroit, MI real estate market for 2019 and 2020.

Detroit Real Estate Market Overview

Metro population:
4.3 M
Median household income:
$26,000
Unemployment rate:
5.0%
Median home price*:
$80,000
Median monthly rent*:
$942
Detroit Real Estate Market Trends & Statistics 2019
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Interested in investing in the Detroit real estate market in 2019 or 2020? On this page you’ll learn about housing market trends and statistics to help you make that decision.

Please Note: This page is current as of January 2019. While most of the data points presented on this page won’t have changed considerably in the last year, we always want to make sure our content is as current and accurate as we possibly can. This page will be officially updated for 2020 by early January, so check back to get the latest updates!

If you’d like to be notified when this page is fully update for 2020, please send an email to KathyFettke@realwealthnetwork.com with the subject line “Detroit Market Update 2020” and we’ll make sure to notify you! 🙂

About Detroit

The largest city in the state of Michigan, Detroit is probably most well known as the city where Henry Ford pioneered the first assembly lines used to manufacture automobiles. Although the Motor City was hit hard by the recession, things are looking way up for this real estate market, in part because of the following three factors:

  • Two billionaire families have committed to turning around the blighted city and appear to have succeeded. The downtown area has been totally revitalized and many of the dilapidated foreclosures have been torn down.
  • Detroit is home to “The Big 3” major automotive companies in the U.S. and Canada (General Motors, Ford Motor Company, and Chrysler), and the headquarters/major corporate offices of 100 Fortune 500 companies, including: Penske Automotive, Quicken Loans, Kellogg, Whirlpool, and Walmart.
  • And yet, prices are still extremely affordable in this area – it’s still possible to purchase fully-renovated, turnkey homes in Detroit for around $80,000 (as low as $50,000 in some cases).
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Major Employers in Detroit

Detroit Housing Market News

[RWS #711] $1,000 Homes in Detroit

The Detroit Land Bank Authority is trying to put run-down and vacant properties to productive use… Bidding starts at $1,000

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Detroit Homes Undervalued and Appreciating Quickly

In this video you’ll learn about the Detroit real estate market where homes are still undervalued, but appreciating quickly. To…

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Property Teams

Property Team details can only be viewed in the Investor Portal, which can be accessed by Real Wealth Network members who are logged in at Investor.RealWealthNetwork.com

Sample properties

Sample properties can only be viewed in the Investor Portal, which can be accessed by Real Wealth Network members who are logged in at Investor.RealWealthNetwork.com.

Member Relations

With a 5 year background in providing excellent customer service experiences, Mariah brings her skill and passion to Real Wealth Network as your member concierge. When she isn’t working to help meet your needs with RWN, you’ll likely find Mariah consumed in a good book, finding the next trail to run, or spending time with her friends and family.

Disclaimer: The information provided on this page is for educational purposes only. Real Wealth Network makes no warranty or representation as to the accuracy, completeness or reliability of this information. Please be advised that this content may contain errors, is subject to revision at all times, and should not be relied upon for any purpose. Under no circumstances shall Real Wealth Network be liable to you or anyone else for damage stemming from the use or misuse of this information.

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