Detroit Stats

Member of the 24/7 Wall St. Media Network

Category: Housing

Why Owning a Home is More Common in Detroit

Fewer and fewer Americans have been buying homes over the last decade. Today, just 63.0% of Americans own their homes, the smallest share since 1965. In the Detroit-Warren-Dearborn metro area, 68.0% of residents own their homes, higher than the national homeownership rate and the fourth lowest of any metro area in Michigan. Young Americans are […]

Why Quality of Life is Lower in Michigan

Americans often evaluate their home states according to such subjective conditions as climate preference, the presence of friends and family, and personal history. In addition to these subjective measures, more objective socioeconomic factors also contribute to life satisfaction. It is such quantitative measures that can help assess the broader quality of life in a given […]

Detroit Among America’s Ghost Towns

The U.S. housing market has recovered substantially since the housing crisis. The improvement, however, has been uneven, and in many U.S. cities housing markets continue to struggle. In some, property values and foreclosure rates have even worsened. In such cases, many homeowners find they have no choice but to abandon their property. Property data company […]

Detroit No More Crowded Than the Average City

There are 3,800 people per square mile in the Detroit-Warren-Dearborn metro area, lower than the national population density of 6,321 Americans per square mile across all U.S. metro areas. Detroit also has the highest population density of any Michigan metro area. Population density can have a meaningful impact on home prices in an area. There […]

Why Detroit is One of the Less Expensive Housing Markets

A typical home in the Detroit-Warren-Dearborn metro area costs $151,000, roughly the same as in Michigan as a whole, where the typical home is worth $137,500. Detroit’s median home value is also the third highest of any metro area in the state. The price of a typical Detroit home is, however, less than the national […]

Detroit is the Most Segregated City in America

Of the 28.7 million black Americans living in the nation’s largest metropolitan areas, nearly one-quarter reside in segregated neighborhoods — where at least 80% of residents are black. People living in urban areas are even more likely to be isolated, with 44.4% living in homogeneous neighborhoods, where the vast majority of residents have the same […]

Detroit is Among the Best 20% of Cities for Single Mothers

Raising children on a single income is no easy feat, and single mothers in the United States struggle more than almost any other group of Americans. Still, some cities are easier for single mothers trying to make ends meet — and some cities are far worse. The costs of housing, food, childcare, and education give […]

Michigan Has the 24th Highest Share of Urban Living

Since 1950, Americans have increasingly chosen to live in cities. Today, 81% live in urban areas, more than even before. Urban areas, however, make up just 3% of U.S. land area. The proportion of people living in urban areas varies considerably between states. 24/7 Wall St. reviewed data from the U.S. Census to determine the […]

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