Wishing you were part of the success stories of investors in Metro Detroit? It’s not too late to join this group and gain similar benefits!
From young professionals to corporations to retirees, people are looking to invest in the Metro Detroit area, also fondly known as Motor City. The price of properties is affordable, while the demand for rentals is on a rising trend. It offers the perfect opportunity for individuals, households, and corporations to gain steady cash flow.
Compared to other investment options, real estate is the investment vehicle you can trust the most. It’s less volatile to economic shocks, unlike stocks and bonds. For those looking to gain a steady cash flow from their investment, there’s no better option when done right!
In addition, real estate is one of the very few assets which appreciates over time, given that certain market conditions are met. Metro Detroit property owners have been experiencing an increase in property value thanks to a rising economy and an increase in the demand for housing. But what exactly are the best neighorhoods in detroit to invest in?
We here at Nelson Property Management have been monitoring the local market, collecting data, and identifying and analyzing trends. As such, we can provide you with the hottest neighborhoods to invest in that meet the tastes and preferences of both investors and renters!
Best Metro Detroit Areas to Invest In
Real estate in Metro Detroit comes in all shapes and sizes. Each neighborhood has its own character. In one, you may find beautiful lakeshore estates, while in another there are new housing projects. Detroit neighborhoods have something for everyone!
The following are some of the best neighborhoods in the Metro Detroit Area for your property investment:
Situated in Wayne County, Harper Woods is a neighborhood that can offer investors great returns. In terms of location, it shares a border with the leafy Grosse Pointe and St. Clair Shores. Compared to its neighbors, Harper Woods is quite small. But that’s its allure as a neighborhood!
Residents love the close-knit community they join here. Home values have been rising steadily over the past 5 years as a result of the increased demand by young families. It's easily one of the best neighborhoods in Detroit for those with young children.
The Harper Woods neighorhood is also located in close proximity to major transportation routes. Professionals living in the neighborhood can easily make their way to and from the office. The ease of access has also seen several retail establishments and nearby coffee shops and restaurants crop up by the neighborhood.
Westland is also located within Wayne County and is one of our biggest recommendations. In terms of distance, it’s around 15 miles from the Downtown area. It’s a very sought-after neighborhood by young professionals and families. Vacant properties and units in this Detroit neighborhood are a rarity, making it a promising investment.
Schools in the area are part of the Wayne-Westland Community School District and are highly reputable. John Glenn High School, Wayne Memorial High School and the William D. Ford Career Tech Center are some of the quality schools in the Westland neighorhood.
During the weekends, residents take their dogs and relax at Hines Park. The attraction is a local favorite. Residents of neighboring areas also come out to enjoy the expansive lawns, soothing environment, and beautiful trees. It's by a Detroit river called the Rouge River.
Let’s take a break from Wayne County and head over to one of the largest cities in Macomb County: Warren. This area has been enticing professionals and businesses from the city over the years. As a result, more businesses have been opening up outside of Downtown Detroit and subsequently attracting tenants and home-buyers. Three major employers in the county include General Motors, Chrysler, and TACOM. It's definitely one of the best neighborhoods in Detroit!
Despite the increase in population, housing options in Warren are still affordable. The beauty of Warren is the diversity of options available. Depending on your tastes, preferences, and target audience, the team at Nelson Property Management can advise you on a property that meets your exact needs.
It’s no surprise that most investors have heard of Dearborn Heights. The neighborhood offers that charming and vibrant suburban life that people dream and yearn for. Furthermore, the central location of this neighborhood allows for residents to access their downtown offices, recreational centers, and cultural venues with ease.
Dearborn Heights is well-planned with good amenities and services in its neighborhood for the residents. It has one of the lowest crime rate levels in Metro Detroit and provides quality education thanks to its top-notch schools.
Formerly known as East Detroit, Eastpointe is a well-established Detroit neighborhood. According to the master plan, most of the sub-divisions were done some 30 to 40 years ago. It’s located to the north of Downtown Detroit and has a small population. It's a primarily residential neighborhood.
Most of the housing options in Eastpointe consist of quality brick homes. These homes are sturdy and provide protection against the elements when the weather gets a little bit chilly. It's one of the best neighborhoods when it comes to quality homes, and also has well-loved parks.
In a Nutshell: Best Areas to Invest in Metro Detroit
Metro Detroit may not be the first option for real estate investors. They might consider hot real estate markets such as Austin, Tampa, Raleigh-Durham, and Nashville. However, over the years, the growth and steady returns of Metro Detroit real estate have convinced them otherwise. You can find a great neighborhood to boost your income in no time here.
Convinced about investing in the Metro Detroit area? From our analysis and experience, we recommend that you invest in the following neighborhoods: Harper Woods, Westland, Warren, Dearborn Heights, and Eastpointe. Should you want to explore more options, other areas that may be of interest include the popular Downtown Detroit area, the picturesque North Rosedale Park, the historic neighborhood of West Village, and the up-and-coming Lafayette Park.
Nelson Property Management is always ready to offer you sound and professional advice for finding the right property in the best neighborhoods in detroit. Property investment will require local knowledge to properly reap the benefits. There are several options for you to choose from, and all you need is the premier real estate investment company in the Metro Detroit area as your partner.
Contact Nelson Property Management and request our full-service property management. Say goodbye to the stress and hello to a high return on your investment!