Matrix Multifamily Detroit Report-August 2022 August 30, 2022

Detroit Idles Growth

Detroit rents rose 0.8 percent on a T3 basis through June, to $1,228, as occupancies slowed but remained relatively high, at 96.5 percent in May. Transaction activity slowed in the second quarter, but the per-unit price rose by a hefty 49.4 percent over the course of a year.