2014 vs 2017 rents. Detroit ranks #1 with biggest increase.

2014 vs 2017 rents. Detroit ranks #1 with biggest increase.

Flipper/Rehabber · Metro Detroit · Member since 2018 · 13 posts · 12 votes
Just an article I read tonight. It seemed worth sharing. Anyone out of state and thought about Detroit? Thats my home! Right by Brightmoor. https://detroit.curbed.com/2018/12/6/18129253/detroit-rent-income-report-largest-increases
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Rental Property Investor · Detroit, MI · Member since 2016 · 42 posts · 31 votes
7y

@Jamiel Strickland

You're denying the unique growth of West Village by lumping it in with "downtown".  It's not even considered part of greater downtown Detroit (which technically ends at Lafayette Park).  The Villages did this without all the development of downtown.  In fact, the entire East Jefferson corridor has taken on a life of its own and will likely be the new Woodward in the not-too-distant future.

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  • Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
    7y

    Areas near downtown Detroit are the ones being transformed.  Outlier areas in the city are still blighted and low income.  Nothing much has changed in the suburbs, although the north suburbs are attractive.

  • Rental Property Investor · Detroit, MI · Member since 2018 · 380 posts · 244 votes
    7y

    This is geared more towards downtown Detroit but neighborhoods you are able to get good rents. 

    "neighborhoods—Corktown, West Village, Woodbridge, Midtown, and New Center—are starting to see higher market-rate rents."

    Those places are pretty much downtown or next to Wayne State University. 

  • Rental Property Investor · Detroit, MI · Member since 2016 · 42 posts · 31 votes
    7y

    @Jamiel Strickland

    You're denying the unique growth of West Village by lumping it in with "downtown".  It's not even considered part of greater downtown Detroit (which technically ends at Lafayette Park).  The Villages did this without all the development of downtown.  In fact, the entire East Jefferson corridor has taken on a life of its own and will likely be the new Woodward in the not-too-distant future.

  • Rental Property Investor · Detroit, MI · Member since 2018 · 380 posts · 244 votes
    7y

    @Michael Harris

    Correct! West Village is one of the places where it is not considered downtown and has built their community up. 

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