Home in Detroit on Robson St. renting for $1,200
A small group of landlords own a fair number of Detroit's rental properties.
One-third of the city’s rental housing is owned by landlords who have five or more properties, Bridge Detroit reports, citing an analysis by Detroit Future City, a nonprofit thinktank dedicated to improving Detroiter's lives.
The analysis also found:
- Of Detroit’s 42,191 landlords, 87 percent own one or two properties.
- 64 percent of properties are owned by landlords with a Detroit address and 87 percent have a Michigan address.
- There are an estimated 137,346 rental units in Detroit.
- As of 2015, renters outnumbered homeowners in the city for the first time since 1950
- Most of the homes are not registered within Detroit’s formal rental system.
