Detroit-Area Renters Are Eager To Leave. Even For Cleveland

Daily Detroit


A piece of Detroit real estate news that made us say, holy crap. There's a penthouse loft apartment in mid-town. That's on the market for a cool one point four million dollars. It's in the Willy's overland, loft building on Willis street, right next door to the original Avalon, bakery, and coffee, shop, the free says the loft is actually two units combined into one on the building's fifth and sixth floors, the specs on this. When are three bedrooms, three and a half bathrooms nearly twenty seven hundred square feet plus another fifteen hundred for the terrace, which offers views of downtown, Detroit, and the ambassador bridge. It's got a custom built steel staircase. A two story main space with Florida ceiling windows and a galley kitchen finished in walnut. Willie's lofts is housed inside a former dealership for the Willy's overland an early four hundred Jeep that was built and headquartered in Toledo, Ohio, the conversion to residential loss was completed about a decade ago with the addition of two stories. Not included in that list. Price is a four hundred seventy five dollar monthly condo fee will link to the free story on daily Detroit dot com. From the high demand for a million dollar, plus Lofton midtown to a new study that shows people who rent in metro-detroit are looking to leave town apartment list dot com has new data. That shows that people who are renting in our region are the second most likely in the nation to search to leave the area fifty percent of searches for housing by people in metro Detroit are for places outside of the region. Demand is very uneven after all in metro Detroit, some areas, usually the walkable more urban places like greater downtown Detroit. What you can't seem to build enough places to serve the demand, and there are waiting lists. The top cities people in metro Detroit, are looking to leave to Cleveland Cincinnati and Grand Rapids. I thought it was interesting to put these two stories together spend because actually I've, I've toured those Willy's overland lofts spaces before they're absolutely beautiful. But there's been a lot that has been sitting on the market until recently, and then it just starts starts to move, but they are beautiful spaces. And then you put. That right next to some stats like this, where it's like, really positive about Detroit, but the region, there's a lot of people can leave. Yeah. Absolutely. I mean I would love to see, you know, deeper drill down into that. But I think, you know, you're right that people, you know, we're, we're seeing really hot rental markets are places like Ferndale down here in midtown in Detroit. But, you know, you'd suspect out in the suburbs, you know, rental apartment buildings and stuff like that, that, that don't have any kind of walkable amenities or any, you know, access to a nearby downtown. I think people are, you know, you know, look, younger people don't wanna live in those in those kind of areas, we keep reading about that over and over again. It's there's no secret, well, and the other thing, I think leaders and this is a stat I think they need to grab onto to really embrace this change is that forty three percent of families now rent their homes across America that isn't just like a Detroit thing that's a national change. In fact, more people are renting now than in the last fifty

Coming up next