Detroit
Michigan · Ranked #15 of 102 metros
68Moderate
Median Home Price
🏠$220K
Need $63K income
Median Rent
🔑$1K
Need $44K income
Housing Shortage
📉25,000
units needed
Building Permits
🔨9,000
annual
Median Income
💰$60K
Pop: 4,342,304
Rent Burden
⚠️31.0%
of renters paying >30%
Price Change (YoY)
📈+5%
Homeownership
🏡68.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Detroit | National |
|---|---|---|
| Price-to-Income Ratio | 3.7x | 6.1x |
| Rent Burden | 31.0% | 31.5% |
| Homeownership Rate | 68.0% | 65.5% |
| YoY Price Change | +5% | +3.5% |
| YoY Rent Change | +3.5% | +2.8% |
| Mortgage Denial Rate | 16.8% | 13.5% |
| Eviction Rate | 5.5% | 3.6% |