Is Now the Time to Buy Up Cheap Real Estate in Detroit?

As with any real estate market, timing is everything when it comes to purchasing property in Detroit.

Don’t wait.

While the city’s property values still range about 30-40% below the national average, the window to scoop them up at an affordable price is closing fast.  

Consider the fact that many of these properties are located within quickly appreciating zones – blocks where newly constructed commercial corridors, restored infrastructure, and city-facilitated demolitions are beginning to create scarcity in move-in-ready housing.

This comes on the heels of the Covid-19 pandemic, which had a real effect on Detroit’s real-estate migration patterns and attracted an entirely new pool of investors to the city in the face of an extreme drop in pricing.

With mortgage rates not expected to even out from that period until late 2026, today’s prices may very well be some of the lowest of the decade, which means that smart buyers who acquire properties now can secure solid appreciation and rental yield. 

This climate is especially appealing to investors and first-time buyers alike, who have already begun staking a claim in lucrative Detroit zip codes like 48228, 48219, and 48235 that are projected to greatly benefit from coming redevelopment.

So yes, now is indeed a good time to buy, buy, buy – but only if you have realistic expectations and a solid plan in place for renovation and long-term holding. 

After all: Today’s affordable inventory is tomorrow’s high-demand housing stock.