Detroit Rents on the Rise; the new frontier of opportunity

The 3909 Woodward Avenue Apartments in Midtown are set to open in March. It is hoped that greater supply will stabilize rent prices.

As more and more positive economic news continues about the resurgence in Detroit’s Urban Core we have now begun to see rapidly growing rental rates in the market.  The lack of institutional development liquidity continues to put pressure on rising rents as demand far exceeds supply.  A number of new development are in various planning stages within the city however it is simply not enough to keep up with the influx of new residents moving to the core.  I expect this problem to continue for the next 2-3 years due to building lag between planning and finished construction.  Quite simply, we are not building fast enough to meet demand.  Interested in investing in this opportunity?  Contact us!

read article here

Category : News

 

 

Leave a reply

Send to Friend

Email Agent for Detroit Rents on the Rise; the new frontier of opportunity