The 7 Detroit neighborhoods where home values grew the most in 2020 

 

Residential property values in Detroit have grown by more than $1 billion in combined worth since 2019, with virtually every neighborhood seeing gains, according to a city of Detroit analysis.

At a recent news conference, Mayor Mike Duggan said “189 out of 194 neighborhoods in the city saw their property values rise,” based on 2021 assessments. To watch the news conference, use this link. (The property value discussion starts around the 8:30 mark.)

 The five neighborhoods that didn’t see rising values were due to a large number of demolitions of tax-foreclosed properties, city officials said. Those neighborhoods include part of four northeast communities near Highland Park: Cadillac Heights, Northeast Central District, Hawthorne Park and Conant Gardens. Airport Sub, near the city airport, also didn’t show an increase in value.

In the 2020 proposed assessments, the residential property values grew by over $775 million, bringing the city’s gain to more than $1 billion over two years, city officials said. That’s a 39 percent increase in residential property value. It’s also the fourth consecutive year of growth.

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Source: The 7 Detroit neighborhoods where home values grew the most in 2020 | Bridge Michigan

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