The housing in Detroit, IL is significantly lower than the national median value, with the city's median value at roughly $68,100 compared to the US median value of $338,100. Despite this large difference in prices, Detroit has still seen an increase in house appreciation in the last year of 7.86%, just shy of the national rate of 8.27%. This suggests that despite Detroit's relatively low housing market, there is still potential for growth and investment.
The median home cost in Detroit is $68,100. Home appreciation the last 10 years has been 45.4%. Home Appreciation in Detroit is up 14.9%.
Average Age of Homes
- The median age of Detroit real estate is 67 years old
The Rental Market in Detroit
- Renters make up 11.4% of the Detroit population
- 13.8% 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.