The housing market in Detroit, AL is very unique and quite impressive. The median value of a house in Detroit is $118,700, which is significantly lower than the US median value of $338,100. However, Detroit has had an impressive 1 year house appreciation rate of 14.92%, which is higher than the US average of 8.27%. This strong appreciation rate could be due to a number of factors such as increased investment in the area or rising demand for property. Overall the housing market in Detroit, AL looks to be very healthy and likely would benefit from further investment.
The median home cost in Detroit is $118,700. Home appreciation the last 10 years has been 61.6%. Home Appreciation in Detroit is up 18.1%.
Average Age of Homes
- The median age of Detroit real estate is 46 years old
The Rental Market in Detroit
- Renters make up 39.3% of the Detroit population
- 16.7% of houses and apartments in Detroit, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.