Matrix Multifamily Detroit Report-Fall 2020 December 15, 2020

Reengineering Detroit

Detroit’s average rent rose 0.7% on a trailing three-month basis through October to $1,050, outperforming the national improvement rate but trailing the U.S. average. The employment market was among the 10 hardest hit in the country, marking a 14.9% contraction year-over-year as of September.