Detroit Trends and Statistics 2018-2019

In this section you will learn about the three leading factors that make Detroit one of the most powerful real estate markets today, including: affordable house prices, strong monthly rental income and stock growth potential. See Detroit's housing, population, and employment trends tabs for more information.

Sources of information:

• https://www.zillow.com/detroit-warren-dearborn-metro-mi_r394532/home-values/
• https://factfinder.census.gov/
• https://www.deptofnumbers.com/employment/michigan/detroit/

Detroit is cheaper and more economically accessible than many US markets today.

• In January 2018 the median price of 3 homes in the Detroit metro area was $ 190,000. This is down to 6% from the national average of 202,000 dollars.
• However, in neighborhoods where members of True Wealth Network invested the median price of 3 homes in services in January, 2018 was only 79,962 dollars. This is lower than XX% of the national average.
• This shows us that real estate in Detroit is more affordable than other markets in the other US. This is especially true in the Detroit neighborhoods where real wealth network members currently invest.

More monthly rental income can be generated in Detroit than in most cities in the United States today

• In January 2018, the median monthly rent for 3 bedroom rentals in Detroit was 1,405 dollars, which is 0.74% of the purchase price of 190,000 dollars. This is slightly higher than the national rent-to-purchase ratio of 0.71%.
• In Detroit neighborhoods where Real Wealth Network members invest their median monthly rent for ground-floor homes with 3 bedrooms was 942 dollars in January 2018. This is 1.18% of the purchase price, significantly higher than the national average.
• This shows us that Detroit offers investors a strong opportunity to generate rental income in relation to their significantly higher national average wages.

Detroit's home values ​​quickly appreciated.

• In January 2012 the median price of 3 homes in Detroit was 104,000 dollars. This means that over the past six years (January 2012 to January 2018), 3 Detroit-style homes have estimated 68%. At that time, 3 homes with 3 bedrooms grew only 41% nationwide.

The average median rent in Detroit has risen consistently over the past six years.

• Between January 2012 and January 2018, average rent rose to 3 bedrooms in Detroit by 18%, which is also above the national average of 17% during this period.
  This shows us that there is a strong opportunity for stock growth and increasing the income potential over time in Detroit.

Detroit's population is growing very slowly.

• Since 2010, the Detroit population has grown by only 0.50%. At that time, the national population grew by about 5.29%.
• Despite very slow growth, Detroit's metro is still outperforming similar markets and attracting educated millennials; This is likely due to a number of research universities in the area, including Wayne State University.
• Detroit also has several billionaires on its side, including Dan Gilbert (CEO of Quick Loans) and Mike Ilyich (owner of the small pizza chain, Detroit Red Wings and Detroit Towers) who have pledged more than $ 4 billion to help the city. Renewal efforts.
• All this attention from the thousands of billionaires and billionaires is a good sign that future growth in Detroit is expected.

Detroit produces jobs, but not as many as other markets.

• In the past year, the number of jobs in Detroit has increased by 0.76%. This is lower than the annual U.S. job growth rate of 1.73%.
• Despite very slow growth, Detroit's metro is still outperforming similar markets and attracting educated millennials. This is likely due to a number of research universities in the area, including Wayne State University.

Detroit is very lucrative

• In the Detroit neighborhoods where Real Wealth members invested the median price of homes with 3 bedrooms in January, 2018 was only 79,962 dollars. This is lower than XX% of the national average.
• This shows us that real estate in Detroit is more affordable than other markets in the other US. This is especially true in the Detroit neighborhoods where real wealth network members currently invest.

Detroit has strong opportunities for rental income

• n Detroit neighborhoods where global network companies invest the median monthly rent for ground-floor homes with 3 bedrooms was 942 dollars in January 2018. This is 1.18% of the purchase price, significantly higher than the national average.
• This shows us that Detroit offers investors a strong opportunity to generate rental income in relation to their significantly higher national average wages.

Detroit is rapidly increasing value

• In the past 6 years (January 2012 to January 2018), 3 Detroit-style homes have gained an estimated 68%. At that time, 3 homes with 3 bedrooms grew only 41% nationwide.
• During that time the average rent of 3 homes with a bedroom in Detroit rose by 18% - which is also above the national average of 17% during this period.
• This shows us that there is a strong opportunity for stock growth and increasing the income potential over time in Detroit.

Young people and billionaires love Detroit

• Despite a very slow population growth and an increase in jobs overall, Detroit has attracted more educated millennials than similar cities across the state.
• In addition, as investors like Dan Gilbert invest billions in redeveloping and expanding companies, future growth in Detroit seems likely.