Journal Article

A Look at Detroit's Affordable Housing Market


Abstract: The foreclosure crisis had a significant impact on Detroit's home ownership rates. The 2000 and 2010 censuses indicate that the homeownership rate in Detroit was 54.9 percent and 51.1 percent, respectively. According to the 2011-2015 American Community Survey 5-Year Estimates, the current rate is below 50 percent. Detroit now has more renters than homeowners. As more residents move from homeownership, increased focus is being placed on the city?s rental housing market and the findings are not entirely favorable.

Keywords: Apartment houses; Detroit (Mich.); homeowners; housing; foreclosure;

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Provider: Federal Reserve Bank of Chicago

Part of Series: Profitwise

Issue: 2

Pages: 4-7