Is Detroit, MI a good place to invest in rental property?

Detroit, MI has a median modeled monthly cash flow of $348 and a median cap rate of 10.2%, on a median sold price of $105,000. Prices changed -1.3% year over year.

What is the average cap rate in Detroit, MI?

The median cap rate across recently sold homes in Detroit, MI is 10.2%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Detroit, MI?

The median sold price in Detroit, MI is $105,000 (about $75 per square foot).

Investing in Detroit, MI Real Estate

#77 cash-flow market in the U.S.

A data-driven snapshot of the Detroit, MI rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$105,000Median sold price

$75Median $/sqft

10.2%Median cap rate

$348Modeled cash flow / mo

-1.3%Appreciation YoY

11.3Months of supply

5,455Active listings

5,794Sold (last 12 mo)

What the Detroit numbers say

In Detroit, MI, the median home sold for $105,000 (about $75 per square foot), and the typical deal models out to a 10.2% cap rate with a median $348 of monthly cash flow. Sold prices moved -1.3% over the past year. Inventory sits at about 11.3 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Michigan markets to compare

See Detroit cash-flowing listings

CashFlowRE ranks every for-sale home in Detroit, MI by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Detroit deals, or browse the national market data.