5 Best Spots in the City of Detroit to Attract Workforce Tenants for Quality Renters
Walking through the City of Detroit is fun—the thriving arts and music scene, the rich and captivating history, the affordable cost of living…
But investing in Detroit rental properties is a different story.
As a Detroit landlord, you must know how to attract quality tenants that’ll be responsible for rent, maintaining the home, and abiding by your lease agreements. Otherwise, you’ll be stuck with problematic tenants that bring you more harm than good.
Well, one of the best ways to find these tenants is by scouring the workforce, where plenty of them have stable jobs (obviously) that earn them an income to afford rent. Employment and income are two key things every investor wants from a tenant, as they’ll directly impact their profits and cash flow.
Here’s a snapshot of the income increases in the City of Detroit, where we recommend that you focus on the bluest areas that indicate stable income and employment. We’ve already put arrows pointing to the highest income increase in Detroit areas for your convenience:
5 Best Places to Attract Workforce Tenants in the City of Detroit
If you’re looking to attract renters from the workforce, you’ll want to look at areas with a high renter population and employment rate. You’ll also want locations that are pleasant to live in, so it attracts quality tenants that’ll pay rent on time, maintain your property, and abide by your agreements.
Here are 5 of the best places in the City of Detroit for a landlord to find workforce tenants:
1. Brush Park
- Address: Bordered by Woodward Avenue to the west, Beaubien Street to the east, Mack Avenue to the north, and I-75 to the south
- Unemployment Rate: 8% (versus 39.4% in the overall city)
- Population: 1,545 residents, where 67% are renters
- Livability Score: 60/100 thanks to amenities, cost of living, and housing
2. University South (University District)
- Address: Bordered by I-75 to the west, Trumbull Avenue to the east, Martin Luther King Jr. Boulevard to the north, and Larned Street to the south
- Unemployment Rate: 7% (versus 39.4% in the overall city)
- Population: 4,505 residents in overall University District, where 19% are renters
- Livability Score: 68/100 thanks to amenities, cost of living, housing, and user ratings
3. Indian Village
- Address: Bordered by Mack Avenue to the west, I-94 to the east, E. Warren Avenue to the north, and E. Jefferson Avenue to the south
- Unemployment Rate: 0% (versus 39.4% in the overall city)
- Population: 1,463 residents, where 41% are renters
- Livability Score: 54/100 thanks to excellent amenities and average employment
4. Rosa Parks Southeast (Lasalle Gardens)
- Address: Bordered by I-75 to the west, I-94 to the east, E. Warren Avenue to the north, and E. Jefferson Avenue to the south
- Unemployment Rate: 5% (versus 39.4% in the overall city)
- Population: 16,535 for overall zip code 48206, where 50% are renters
- Livability Score: 58/100 thanks to amenities, cost of living, and housing
5. Greektown (Downtown Detroit)
- Address: Bordered by I-75 to the west, Lafayette Boulevard to the east, Monroe Avenue to the north, and Beaubien Street to the south
- Unemployment Rate: 7% (versus 39.4% in the overall city)
- Population: 120 residents, where 100% are renters (yes, all of them!)
- Livability Score: 74/100 thanks to amenities, cost of living, and user ratings
Securing Quality Workforce as Tenants in the City of Detroit
Nearly all suburbs in the City of Detroit have seen an increase in renters, including the 5 we’ve mentioned above. Apart from these, you can also consider Downtown Detroit, Jeffries, and Palmer Park North which NeighborhoodScout states to have great income increases as well.
Take advantage of this boom in tenancy and attract working citizens to rent in your building. Once the offers come through, it’s just a matter of screening your tenants and running the show. You’ll then have a strong cash flow stream thanks to financially secure and responsible tenants in the area.
Need help screening applicants, or managing your tenants? Perhaps you want a partner in the maintenance of your building? Look no further than Logical Property Management.
Contact us today and we’ll find the best solutions for you.