{"id":227,"date":"2021-01-06T09:56:53","date_gmt":"2021-01-06T09:56:53","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=227"},"modified":"2023-03-10T08:15:13","modified_gmt":"2023-03-10T08:15:13","slug":"detroit-housing-market-trends-fall-2020","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/","title":{"rendered":"Detroit Housing Market Trends &#8211; Fall 2020"},"content":{"rendered":"<h2>Rents Rebound Favorably<\/h2>\n<p>Despite the vulnerability displayed in recent decades, Detroit\u2019s multifamily market has not succumbed to the current downturn. Rents in the metro rose a substantial 0.7% on a trailing three-month basis through October to $1,050, with Lifestyle rents posting a remarkable rebound after six consecutive months of negative performance that ended in March.<\/p>\n<p>Employment took a serious hit, declining 14.9% in the 12 months ending in September, trailing the -9.3% national average. The unemployment rate slid to 12.8% in August from the 26.5% all-time high registered in May, with the preliminary September figure clocking in at 12.5%. As expected, because of the state\u2019s automotive industry concentration, manufacturing was among the worst-hit sectors, contracting by 9.8% in the 12 months ending in September. Even though Detroit has lost a large chunk of its workforce since the onset of the pandemic, the metro is better positioned to weather the immediate fallout of the current crisis than it was in past downturns.<\/p>\n<p>Developers delivered only 547 units through October and had another 5,732 under construction. Meanwhile, $194 million in multifamily assets traded during the first 10 months of the year, with<br \/>\none transaction recorded in April accounting for nearly half of that.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1162-MatrixMultifamilyDetroitReport-Fall2020?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily Detroit Report-Fall 2020<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rents Rebound Favorably Despite the vulnerability displayed in recent decades, Detroit\u2019s multifamily market has not succumbed to the current downturn. Rents in the metro rose a substantial 0.7% on a trailing three-month basis through October to $1,050, with Lifestyle rents posting a remarkable rebound after six consecutive months of negative performance that ended in March. [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[109,16],"class_list":["post-227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-detroit","tag-multifamily-outlook"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Detroit Housing Market Trends - Fall 2020 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Despite the vulnerability displayed in recent decades, Detroit\u2019s multifamily market has not succumbed to the current downturn.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Detroit Housing Market Trends - Fall 2020\" \/>\n<meta property=\"og:description\" content=\"Despite the vulnerability displayed in recent decades, Detroit\u2019s multifamily market has not succumbed to the current downturn.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-06T09:56:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:15:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Detroit-iStock-1284558139.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Detroit Housing Market Trends - Fall 2020 - Yardi Matrix Blog","description":"Despite the vulnerability displayed in recent decades, Detroit\u2019s multifamily market has not succumbed to the current downturn.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/","og_locale":"en_US","og_type":"article","og_title":"Detroit Housing Market Trends - Fall 2020","og_description":"Despite the vulnerability displayed in recent decades, Detroit\u2019s multifamily market has not succumbed to the current downturn.","og_url":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-01-06T09:56:53+00:00","article_modified_time":"2023-03-10T08:15:13+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Detroit-iStock-1284558139.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Detroit Housing Market Trends &#8211; Fall 2020","datePublished":"2021-01-06T09:56:53+00:00","dateModified":"2023-03-10T08:15:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/"},"wordCount":204,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Detroit-iStock-1284558139.jpg","keywords":["Detroit","Multifamily Outlook"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/","url":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/","name":"Detroit Housing Market Trends - Fall 2020 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Detroit-iStock-1284558139.jpg","datePublished":"2021-01-06T09:56:53+00:00","dateModified":"2023-03-10T08:15:13+00:00","description":"Despite the vulnerability displayed in recent decades, Detroit\u2019s multifamily market has not succumbed to the current downturn.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Detroit-iStock-1284558139.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Detroit-iStock-1284558139.jpg","width":1200,"height":628,"caption":"Image by Sean Pavone\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/detroit-housing-market-trends-fall-2020\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Detroit Housing Market Trends &#8211; Fall 2020"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0","name":"lilianam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","caption":"lilianam"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/12\/Detroit-iStock-1284558139.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=227"}],"version-history":[{"count":3,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/227\/revisions"}],"predecessor-version":[{"id":279,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/227\/revisions\/279"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/277"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}