Matrix Multifamily Detroit Report-March 2022 March 24, 2022

Deliveries Double in Detroit

Developers completed 2,039 units in 2021, almost doubling 2020. This influx of new supply tempered last summer’s high occupancy rate in stabilized properties, bringing it to 96.9 percent as of December. Rent growth softened during the winter, with the average asking rent of $1,165 leaving plenty of room for improvement.