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Detroit Real Estate Overview

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Detroit is located in Wayne County and borders Oakland and Macomb counties. Together, the three counties are known as the tri-county area of Metropolitan Detroit. Detroit borders Oakland County on its north side along 8 Mile Road – a road that has become a symbol for the division between city and suburb, and lower class from middle class.

The 21st century has come with hard economic times for Detroit and the rest of southwest Michigan due to the decline of manufacturing in the face of increasing global competition. The auto industry has taken a big hit, and since Detroit is home of the Big Three automakers, Detroit has felt the pain more than most American cities.

The state of Michigan’s unemployment rate, at 6.8 percent, is one of the highest in the country.

All of this has taken a toll on Detroit real estate. Yet despite the struggles, Detroit remains a city of great neighborhoods and suburbs and increasing opportunity as the city and the entire state of Michigan attract new jobs in areas other than manufacturing.

Next Page: A Selection of Detroit City Neighborhoods

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