Detroit is the 22nd largest multifamily market with 216,541 completed units and 24,297 units in development, 5,392 of which have already broken ground, as of December 2021.
Detroit Multifamily Market Summary – December 2021
New lease asking rents are at $1,168, up 9.9%▲
from the previous year placing Detroit at 75th
overall in year-over-year rent growth.