Detroit, MI

Population: 707,096
Average annual home appreciation rate: 9.96%
Total of homes for sale in this market: 129
Median home price: $63,444
Median Rent: $648 per room
Home price range: 41.19% of homes are between $0 – $53,000
Median sales price: $19,950
Number of homes: 359
Median foreclosure sales price: $8,900
Foreclosure discount: 55%
Most common home type: 65.40% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 28.69%
Number of renters: 45.51%
Number of owner occupied: 54.49%
Number people living below poverty level: 38.12%
Unemployment rate: 16.40%
Is this area perfect for real estate deals going on right now? Data shows, this makes Detroit one of the highest appreciating communities in the nation for the latest quarter, and may signal the city’s near-future real estate investment strength.

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