Southfield, MI

Population: 72,253
Average annual home appreciation rate: 6.89%
Total of homes for sale in this market:
Median home price: $132,203
Median Rent: $985 per room
Home price range: 47.37% of homes are between $111,001 – $221,000
Median sales price:
Number of homes:
Median foreclosure sales price:
Foreclosure discount:
Most common home type: 47.21% of homes are Single Family Detached
Number of vacant homes: 13.14%
Number of renters: 44.28%
Number of owner occupied: 55.72%
Number people living below poverty level: 14.13%
Unemployment rate: 9.30%
Is this area perfect for real estate deals going on right now? There could be some great opportunity for the savvy investor in the Southfield market as we speak. 1. Lower overall home prices… 2. Much higher than national average rental rates… 3. Multiple ‘Troubled/Vacant’ properties available to smart cash buyers on the market… (Troubled/Vacant properties = motivated sellers who are willing to negotiate prices.) 4. Higher unemployment rate which means less people can afford their own homes, therefore need rental properties… making buy and hold investors a valuable resource in the market. There could be some great opportunities for investors in the Southfield market.

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