The housing market in Detroit, TX is quite strong, with a median value of $174,700. This is significantly lower than the US median value of $338,100, offering buyers options that are more affordable. The US 1 year house appreciation rate is 8.27%, while in Detroit it's even greater at 21.41%, indicating that prices in the area are increasing rapidly. This makes Detroit an attractive option for potential buyers who want to purchase a home now and benefit from higher future values.
The median home cost in Detroit is $174,700. Home appreciation the last 10 years has been 144.0%. Home Appreciation in Detroit is up 23.0%.
Average Age of Homes
- The median age of Detroit real estate is 46 years old
The Rental Market in Detroit
- Renters make up 33.1% of the Detroit population
- 4.0% 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.