2020 Housing Market Overview

Detroit Real Estate Market 2020

PLEASE NOTE: The information on this page was gathered before the Coronavirus impact. Things are changing on an hourly basis, and we are working to update our data and keep it current. In the meantime, please do not rely on the information on this page to be current.

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Detroit Real Estate Market Overview

Metro Population: 4.3 M

Median Household Income:$75,000

Unemployment Rate:3.8%

Median Home Price*:$207,000

Median Monthly Rent*:$1,462

Detroit Real Estate Market Trends & Statistics 2020
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Interested in investing in the Detroit real estate market in 2020? On this page you’ll learn about housing market trends and statistics to help you make that decision.

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

Property Teams

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

Sample properties

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

Disclaimer: The information provided on this page is for educational purposes only. RealWealth 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 RealWealth be liable to you or anyone else for damage stemming from the use or misuse of this information.

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