For investors, Detroit real estate is a hot ticket if you know where to look. And with high-end stores like Whole Foods moving in and tech superstars such as Microsoft and Pinterest opening offices, the city is also extremely attractive to potential residents. While there are more reasons to love the Detroit rental market than you can count on both hands, we’ve compiled a few of our favorites and coupled them with a newly released, data-driven analysis of some of the city’s newest residents:
Affordability
The cost of living in Detroit is a whopping 12.4% lower than the U.S. average. This is a key influencer for investing in Detroit real estate as it attracts more tenants.
Profitability
Detroit has one of the best rent-to-value ratios in the US at 5.35. On the other end of the spectrum are cities like San Francisco at 50.11, Los Angeles at 38.59, and New York at 36.83. This favorable ratio means Detroit is a great value proposition for residents.
Continued Growth
As revitalized parts of the city start to fill up, we expect to see continued growth in neighboring residential areas and rising rental rates throughout the city. Furthermore, with the blooming presence of hot tech companies like LinkedIn, Microsoft, and Google, Detroit is projected to experience significant, sustained growth.
More Facts And Stats
At Greatwater Opportunity Capital, we’ve been keeping our eyes on the abovementioned trends for years now. They’re just some of the reasons why we know Detroit is a city ripe for investment. Check out the data from a recent analysis we conducted on rental market trends in Detroit for a few more interesting facts and stats:
