Detroit is one of the best cities to buy a rental property because.
It is recognized as the automotive capital of the world. The metro area is home to General Motors, Ford Motor Company and Chrysler ( “The Big Three ” major automotive companies in the US and Canada) which offer a wide range of jobs and invest billions into the city’s infrastructure.
Tech giants such as Amazon and Google are betting on the city by opening offices there. Michigan has the highest concentration of Tech engineers in the nation with 133.000 statewide.
Detroit is also home to 100 of the Fortune 500 companies, including Kellogg, Quicken Loans, Whirlpool, Penske Automotive and Walmart.
Despite it’s longstanding nickname “Motor City” , several of Detroits fastest growing industries are diverse as healthcare, defense, aerospace, IT and logistics.
This strong consolidation of Companies from different sectors makes Detroir one of the top 10 U.S. cities for economic growth potential.
It´s growth is bringing tourist and its economy brings confidence.
Major attractions include Detroit Tigers, Wayne State University, University of Michigan.
Michigan´s cost of living is 11% below the national average, making it the 4th most affordable state in the Country. Resulting in Detroit being the 3rd city in the country for attracting millenials.