Why These 5 Neighborhoods are Great Places to Live in the City of Detroit

Why These 5 Neighborhoods are Great Places to Live in the City of Detroit

The City of Detroit has over 300 years of history, with many neighborhoods dating back to the 1850s. So much so that its residents have strong ties to the city—likely due to its thriving immigrant population or because the city has been a bustling area for decades.

However, if you’re new and thinking of moving to the City of Detroit, things can get tricky. Motor City is over 142 square miles large with neighborhoods and subareas that vary in demographics, economies, features, and amenities. So what neighborhood do you choose?

No worries—we’ve done the work for you. Here are the 5 best places to live in the City of Detroit.

Living Costs in the City of Detroit

Before we start, here are some facts about the living costs in the City of Detroit:

• Average Rent: The average rent is $1,166, while the average apartment size is 767 sq. ft. The most expensive neighborhood to rent in is Downtown Detroit, where the average rent is $1,622. Meanwhile, Chadsey and Tireman see average rent costs of roughly $515.
• Affordable Property Prices: Home costs in the City of Detroit remain relatively low, where the median listing price is $80,000, with the median selling price at $84,500. You can easily own a home here compared to other areas in the nation, which is great news for first-time and budget-conscious aspiring homeowners.
• Increasing Property Value: Although property prices are low, they are steadily increasing over the years. Median home values are $67,846—an increase of 27.4% over the past year and significantly lower than the nationwide index of $349,816. Increasing property value means better chances for generating equity, making Detroit homes good for investing.
• Neighborhood Living Costs: If you’re planning to rent, Chadsey, Condon, and Tireman are the most affordable neighborhoods with an average rent of $516/month. If you want to own a home, there are plenty of Detroit properties under the $100 mark, like this one on Zillow.

We’ll be referring back to these factors when evaluating Detroit neighborhoods below.

If you’re a renter, you’ll want to focus on quality neighborhoods with affordable rent. But if you plan to become a homeowner, you’ll want to scout options in up-and-coming neighborhoods with increasing property prices for future equity gains.

5 Best Neighborhoods in the City of Detroit

Whether you’re renting or home buying, you’ll want to live in a good neighborhood—somewhere with access to quality amenities and a positive culture. We’ve listed down 5 of the best areas to live in the City of Detroit, arranged by their respective Niche grades. Take a look!

#1 – Downtown Detroit

Niche Grade: A-

Average Rent: $1,484

Average Home Value: $364,591

Address: Bordered by Lodge Freeway, Interstate 75, Chrysler Freeway, and the Detroit River

Since the 2000s, Downtown Detroit has seen fantastic new developments and growth. There are historic buildings like the Detroit Institute of Arts and Detroit Historical Museum mixed with thriving scenes of bars, coffee shops, parks, and two new stadiums: Comerica Park and Ford Field.

If you want to live among Art Deco-style skyscrapers, Downtown Detroit is for you. You can stop by the Fox Theatre for a musical night, or check out the food trucks near the artificial beach of Campus Martius Park. There’s no shortage of things to do in the City of Detroit’s central business district—living in the heart of the Motor City.

#2 – Sherwood Forest

Niche Grade: A-

Average Rent: $928

Average Home Value: $307,436

Address: Bounded by Seven Mile Road, Livernois, Pembroke, and Parkside

With a small population of just over 2000 people, Sherwood Forest is a quiet neighborhood with an urban feel. There are plenty of parks in this well-loved historic district, which features single-family homes built in the 1920s and 1930s—Detroit’s “Golden Age.”

Many retirees choose to live in Sherwood Forest, but it’s also a good neighborhood for young professionals and first-time families looking for a less bustling place to live. You get a more relaxed lifestyle while still living a few minutes away from Downtown.

Sherwood residents also put a premium on safety. They have a program called Home Monitors, where volunteers watch vacant homes near their own. How’s that for good neighbors?

And if you want to know more about the livability and investment potential of this neighborhood, check out the Deep Dive we’ve written for Sherwood Forest.

#3 – University District

Niche Grade: B+

Average Rent: $926

Average Home Value: $242,552

Address: One mile west of Woodward Avenue

Live here and you’ll be right along Detroit’s “Avenue of Fashion,” with plenty of boutiques and retail outlets available for your shopping sprees. Some locals also call it “Gallery Row” for its numerous art galleries and spaces. You’ll also be near to the sprawling Palmer Park alongside the University of Detroit Mercy and Detroit Repertory Theater.

Much like Sherwood Forest, the University District is also home to both retirees and young professionals. That’s because it’s one of the more affordable neighborhoods in the City of Detroit. Most people use a car to get around, so it’s perfect for people who love the independence of driving—after all, you’re in Motor City!

We’ve also written a Deep Dive for the University District,  where you’ll find more information on livability and investment potential (if you plan to purchase a couple of properties here!).

#4 – Rivertown

Niche Grade: B

Average Rent: $1,397

Average Home Value: $250,263

Address: Right on the Detroit International Riverfront

What’s better than living somewhere with a waterfront view? Rivertown is a mixed residential area, so there are apartments and condominiums (including the Alden complex) alongside single-family homes. It’s an expensive place to live in the City of Detroit, but with a view like that? Worth it.

Living in Rivertown also means you’ll have access to the City of Detroit’s Riverwalk—a 3-mile stretch that offers a gorgeous view of the river, cafes, fountains, benches, and splash parks. There’s also the Joseph Campau Greenway, or the Harbortown development.

Enjoy the Detroit skyline before returning to your waterfront home to rest.

#5 – Midtown Detroit

Niche Grade: B

Average Rent: $780

Average Home Value: $365,795

Address: Bounded by Chrysler Freeway, Lodge Freeway, Edsel Ford Freeway, and Fisher Freeway

How about dropping by the country’s longest continuously running bowling alley, The Garden Bowl? Midtown is a mix of the historic and the modern—you’ve got the Detroit Institute of Arts and Wayne State University, then the Museum of Contemporary Art Detroit.

You’ve also got a good selection of housing choices in Midtown, with Victorian-style duplexes and single-family homes among new condominiums and apartment complexes. Moreover, the area has a lot of local favorites in coffee shops such as Cass Cafe and Bottom Line Coffee House. There’s also a new cultural district in the works, so move to Midtown as soon as you can!

Living in the City of Detroit: The Best City in Michigan

If you’re planning a move to the City of Detroit, start your planning here with our list of the best neighborhoods to reside in the Motor City. It may feel overwhelming to do all the research—rental, and housing forecasts, cost of living, housing options, and more.

But trust us when we say that living in Motor City is worth it. We’ve been living here for decades now and have loved it so much, we’ve decided to establish a property management company here!

Do you need help getting your moving strategy in order? Contact us at Logical Property Management. We’ll find your dream home in your ideal neighborhood—our services lead to your home’s success.