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.)
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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