Near year's end, mid-priced apartments track more move-ins than luxury, workforce housing in Detroit

Due to shifting renter preferences and less supply-side competition, Detroit's multifamily sector continues to rebound from weakened demand over the past few years through 2024, preferring mid-grade apartment units over luxury ones. Population growth, heightened consumer confidence and fading recessionary fears are contributing factors to Motor City’s 2024’s apartment demand boost. To the first point, according to the U.S. Census Bureau, this is the first time Detroit’s year-over-year annual population growth has measured positive momentum since 1957.