Romulus, MI

Population: 23,989
Average annual home appreciation rate: -1.06%
Total of homes for sale in this market:
Median home price: $85,286
Median Rent: $689 per room
Home price range: 31.62% of homes are between $52,001 – $104,000
Median sales price:
Number of homes:
Median foreclosure sales price:
Foreclosure discount:
Most common home type: 68.22% of homes are Single Family Detached
Number of vacant homes: 10.17%
Number of renters: 30.56%
Number of owner occupied: 69.44%
Number people living below poverty level: 20.17%
Unemployment rate: 6.80%
Is this area perfect for real estate deals going on right now? There are some things going on right now that could make the Romulus market a great place to invest… 1. Lower overall home prices. 2. High rental rates 3. Multiple troubled AND vacant properties. (There are twice as many troubled properties on the market then there are total homes for sale.) Troubled/vacant properties = motivated sellers willing to negotiate prices with investors. 4. The Romulus market is in a “low” as we speak… this will drive the prices down, and investors who get into the market could make a great ROI when the market makes it comeback.

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