Suburban Detroit Market Still Going Strong

September, 2024- Bloomfield Hills, MI

RE Journals’ Dan Rafter interviewed IPO’s Greg Coulter to discuss the performance of the suburban multifamily market in the Detroit area.

“It wouldn’t be accurate to call the Detroit multifamily market a booming one. Yes, demand from renters remains strong. But multifamily investment sales are sluggish thanks to higher interest rates. And while monthly rents continue to rise on a year-over-year basis, that growth has slowed.

Still, the fundamentals of the multifamily sector in Detroit and its suburbs remain strong. Greg Coulter, founder and managing member of Bloomfield Hills, Michigan-based Income Property Organization, said that this is especially true in Detroit’s suburban areas, where a growing number of renters want to live.”

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