Thursday, September 8, 2016

Detroit ranked 'Most Affordable Market' by random report

Posted By on Thu, Sep 8, 2016 at 12:51 PM

click to enlarge SHUTTERSTOCK
  • Shutterstock
Oh, Coldwell Banker Home Listing Report — thank you for giving us this sweet information.

The Coldwell Banker Home Listing released its 2016 report and it turns out that Detroit is ranked the most affordable market in the U.S. to purchase a four-bedroom, two-bathroom home with the average listing price of $64,100. 

That is all fine and dandy, but where are these $64,100 homes in Detroit? Are they livable? How many renovations have to be done? Is home insurance factored into this? What are the schools like? Does any sort of public transportation go near these homes?

These are a ton of valid questions when purchasing any home, so just because the market price may be low doesn't make it all of a sudden desirable. 

Sure, homes are a lot more affordable in Detroit than they are in Royal Oak or any other metro Detroit suburb, but is it really worth it to purchase a home in Detroit with all the extra costs? 

If you're young, single, and want to live in a metropolitan area then yes — moving to Detroit is a totally viable option and something that many people (especially millennials) are currently doing. Is a millennial going to purchase a fixer-upper home in Detroit that is not near the hot spot neighborhoods like Midtown or Downtown? Probably not. 

So thanks for the report Coldwell Banker, but we need a little more information. 


Tags: , , ,

We welcome readers to submit letters regarding articles and content in Detroit Metro Times. Letters should be a minimum of 150 words, refer to content that has appeared on Detroit Metro Times, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at

Support Local Journalism.
Join the Detroit Metro Times Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state. Our readers helped us continue this coverage in 2020, and we are so grateful for the support.

Help us keep this coverage going in 2021. Whether it's a one-time acknowledgement of this article or an ongoing membership pledge, your support goes to local-based reporting from our small but mighty team.

Join the Metro Times Press Club for as little as $5 a month.

Most Popular

Read the Digital Print Issue

July 28, 2021

View more issues


Never miss a beat

Sign Up Now

Subscribe now to get the latest news delivered right to your inbox.

Best Things to Do In Detroit

© 2021 Detroit Metro Times - Contact Us

Website powered by Foundation