Detroit Real Estate Market 2021: Housing Forecast, Trends & Predictions

2021 Housing Market Overview

Detroit Real Estate Market 2021

Detroit Real Estate Market Overview

Metro Population: 4.3 M

Median Household Income:$65,000

Unemployment Rate:6.3%

Median Home Price*:$188,000

Median Monthly Rent*:$1,255

Should You Buy Rental Property in the Detroit Real Estate Market in 2021?

Interested in investing in the Detroit real estate market in 2021? On this page you’ll learn about housing market trends and statistics to help you make that decision.

About Detroit

The largest city in the state of Michigan, Detroit is probably most well known as the city where Henry Ford pioneered the first assembly lines used to manufacture automobiles. Although the Motor City was hit hard by the recession, things are looking way up for this real estate market, in part because of the following three factors:

  • Two billionaire families have committed to turning around the blighted city and appear to have succeeded. The downtown area has been totally revitalized and many of the dilapidated foreclosures have been torn down.
  • Detroit is home to “The Big 3” major automotive companies in the U.S. and Canada (General Motors, Ford Motor Company, and Chrysler), and the headquarters/major corporate offices of 100 Fortune 500 companies, including: Penske Automotive, Quicken Loans, Kellogg, Whirlpool, and Walmart.
  • And yet, prices are still extremely affordable in this area – it’s still possible to purchase fully-renovated, turnkey homes in Detroit for under $100,000.
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Major Employers in Detroit

Detroit Housing Market News

Property Teams

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Sample properties

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