The average rental rate for all rental properties within Detroit is $987

By neighborhood, the average rental rates in Detroit are as follows:

Chadsey - $442
Tireman - $508
Vernor - Junction - $512
Grant - $583
West Riverfront - $597
Springwells - $597
State Fair - Nolan - $638
Cerveny - Grandmont - $651
Harmony Village - $668
Condon - $676
Highland Park - $709
Palmer Park - $723
Rosa Parks - $826
Middle Woodward - $884
Foch - $1,031
East Riverside - $1,031

St. Jean - $1,033
Kettering - $1,062
Butzel - Indian Village - $1,066
Belle Isle - $1,066

Detroit has a total population of 673,104 and 48.20% of the population own their home. 51.80% of the occupied housing units are renters within the Detroit metro area. The median gross rent from 2014 - 2016 was $754. Today, the rental rate has risen 30.90% from 2016. Residents tend to be more long term with 83.60% staying in their residence for more than 1 year. For those who own a home, the median value of the house is $41,000.

Demographics

The total population under the age of 18 is 32.40%. While those over 65 is 12.60%. Women make up 52.70%, while men make up the remaining 47.30%. 13.60% of the population is White, 7.50% is Latino and 79.70% African American.

Education and Economy

39.4% of the population in Detroit is considered to be at the poverty level. The education level is rather high with 79.00% with a high school degree or higher. The median annual household salary for Detroit is $26,249 with 34.09% of all businesses within the city being owned by men, while 62.35% are owned by women and 82.35% of businesses are minority owned.