Single-family Foreclosures in Detroit, MI 48232

Current Market Conditions in Detroit, MI

The real estate market in Detroit shows signs of growth, with a repositioning of properties in formerly neglected neighborhoods. Investors are increasingly drawn to the area's affordability and potential rental income, especially as more professionals relocate to the region for work opportunities.

House prices in Detroit are gradually increasing, making it a seller's market in certain highly sought neighborhoods. While overall prices are on the rise, there are still many affordable housing options available for first-time buyers and investors.

Rent Prices In Detroit, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Detroit, MI, is on a rollercoaster ride. The average rent price in Detroit, MI, is $1,317.00. Indeed, when looking to rent in Detroit, MI, you can expect to pay as little as $480.00 or as much as $3,000.00, with the average rent median estimated to be $1,290.00. The good news is that finding an affordable and desirable property to rent in Detroit, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.