Southfield, MI

Population: 73,006
Average annual home appreciation rate: 0.02%
Total of homes for sale in this market: 174
Median home price: $134,991
Median Rent: $1,150 per room
Home price range: 44.97% of homes are between $124,001 – $249,000
Median sales price: $83,000
Number of homes: 219
Median foreclosure sales price: $102,683
Foreclosure discount: N/A
Most common home type: 46.99% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 11.48%
Number of renters: 50.23%
Number of owner occupied: 49.77%
Number people living below poverty level: 15.97%
Unemployment rate: 7.70%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Southfield area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

Leave a Reply

Your email address will not be published. Required fields are marked *