Rent to Own Homes near Detroit, MI

Top Reasons to Live in Detroit MI

  • Once the pride of the nation, Detroit is often touted as a city that has not aged well. That being said, the city resonates with a certain energy, which might just be a consequence of everything it has been through in recent years. Only in Detroit will you get a chance to witness and participate in the rebirth of an entire city. Detroit still has a bustling arts culture with several galleries and studios in the downtown area, it is still home to many popular music festivals like the Detroit International Jazz Festival, and it is still the go-to city for sports enthusiasts (Detroit also goes by the name of City of Champions due to the success of its local teams including Tigers, Red Wings and Lions). The city might be in a bit of financial crisis, but it definitely has a lot of life and character. Give Detroit a chance and it might just surprise you.

Check out Detroit, MI homes for sale, and rent to own

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3 Beds, 1 Bath in Detroit, MI 48228
Listing Type
Rent-To-Own
Description

3 Beds, 1 Bath

Detroit, MI 48228

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School: Coming Soon
Grocery: Coming Soon
Restaurant: Coming Soon
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4 Beds, 3 Baths in Detroit, MI 48238
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Rent-To-Own
Description

4 Beds, 3 Baths

Detroit, MI 48238

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School: Hope Academy
Grocery: Laverns Market
Restaurant: Linn's Fish & Chicken
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3 Beds, 1 Bath in Redford, MI 48240
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Rent-To-Own
Description

3 Beds, 1 Bath

Redford, MI 48240

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School: Coming Soon
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4 Beds, 2 Baths in Detroit, MI 48204
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Rent-To-Own
Description

4 Beds, 2 Baths

Detroit, MI 48204

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School: Webber Middle School
Grocery: Vic's Market
Restaurant: One Soul Town Cafe
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3 Beds, 1 Bath in Detroit, MI 48224
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Rent-To-Own
Description

3 Beds, 1 Bath

Detroit, MI 48224

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School: Carleton Elementary School
Grocery: Market Basket
Restaurant: All American Coney Island
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3 Beds, 1 Bath in Detroit, MI 48224
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Rent-To-Own
Description

3 Beds, 1 Bath

Detroit, MI 48224

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School: Carleton Elementary School
Grocery: Vogue Market
Restaurant: Georgia Cafe
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3 Beds, 1 Bath in Detroit, MI 48224
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Rent-To-Own
Description

3 Beds, 1 Bath

Detroit, MI 48224

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School: Carleton Elementary School
Grocery: Fish N More Fish Market
Restaurant: Pappa's Coney Island
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2 Beds, 1 Bath in Detroit, MI 48200
Listing Type
REO Foreclosure
Description

2 Beds, 1 Bath

Detroit, MI 48200

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School: Coming Soon
Grocery: Coming Soon
Restaurant: Coming Soon
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3 Beds, 1 Bath on Manor St
Listing Type
REO Foreclosure
Description

3 Beds, 1 Bath

Detroit, MI 48221

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School: Martin Luther King Jr Ed Center
Grocery: Gibson Food Market & Lounge
Restaurant: A Eagle's Coney Island
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  • Housing StatisticsThe real estate market is bound to go for a hit in a city that has recently filed for bankruptcy. There are thousands of abandoned homes in Detroit and a fraction of them have now been demolished by official authorities. This has lead to two things - firstly, almost 90% of the home sales concern distressed properties which have been foreclosed and secondly, with the decrease in the number of tenable homes, prices have actually increased marginally in the recent past. Even so, the median home sale price is close $51,000, which is significantly lower than the national average. Of the total number of apartments, almost a quarter are rental homes and close to 11% are vacant properties. Since real estate is available at very affordable prices in most parts of Detroit, rent to own policies aren't as popular, except in the downtown area, where prices are still on the higher side.
  • Employers and IndustriesEven as the automobile industry lost a sizable portion of its business in the 1980s, it continues to be the biggest industrial employer in the Detroit metropolitan area. The headquarters of General Motors and Ford Motors are situated in the city and thousands of high skilled and manual labor employees work here. At the same time, some of the largest automobile parts manufacturing companies like Delphi and Guardian Industry provide employment to a major part of the city population. Information technology is by far the second largest employer in the city. This is a rather broad category, which includes advanced manufacturing, health sciences, research and development, and architecture. Of late, the medical sector has also experienced a surge in the city, especially after the establishment of the Henry Ford Health Center. The latter, along with the Detroit Medical Center and other hospitals and research facilities, comprise the medical sector, which is also among the the top employers in Detroit.
  • School SystemsAs with other areas, the financial condition of the city has taken its toll on the school system as well. The Detroit Public School system is the largest public school system in Michigan. However, the number of students enrolled has diminished rapidly due to the rampant decline in population. This has also resulted in reduction of the economic funds, thus impacting the overall health of the education system. The graduation rate is 68%, a good number shy of the national average, yet better than many school systems in surrounding city and states. Additionally, Detroit is also home to several private schools, which provide better infrastructure and facilities, albeit at a high cost.
  • Neighborhood GuideDetroit is a fairly large city with a population of approximately 700,000. While some parts of the city are infamous for their high crime rates, others have been voted among the best in the country at some point in time. Here are some of the most prominent neighborhoods in Detroit: