Detroit is well known on a global scale for its historical significance in the auto industry, the Motown music scene, and renowned sports teams. The Motown Museum, Detroit Institute of Arts, Eastern Market, the Detroit Riverfront, and Belle Isle are among the suggested tourist destinations (Johncox).
Millennials are moving to Detroit in record numbers despite the city’s declining population. A recent study by the Detroit Chamber of Commerce found that metro Detroit scored second overall among peer cities and had the second-highest growth among comparable locations for adults aged 24 to 35 over the prior decade (Dunn).
Detroit does have a lot of room for improvement, meaning it’s a great place to invest in! As of now (2023), Detroit has the perfect market to invest in. Detroit’s market allows people to find good investment properties, fix them up and benefit from their return on those investments. Contact a qualified real estate agent if you are interested in investing in Detroit or any other area.
Sources:
Dunn, Keith. “Is Detroit Michigan a Good Investment for 2022?” BiggerPockets, https://www.biggerpockets.com/forums/898/topics/1032084-is-detroit-michigan-a-good-investment-for-2022.
Johncox, Cassidy. “Detroit Named among Top 10 Best Travel Destinations in the World for 2023.” WDIV, WDIV ClickOnDetroit, 15 Nov. 2022, https://www.clickondetroit.com/news/local/2022/11/15/detroit-named-among-top-10-best-travel-destinations-in-the-world-for-2023/.