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Economy

Regional Detroit Economic Indicators

Gross Domestic Product  (Up 3% over 2010) 2011: 205,588 M
Unemployment (Down .3% over April 2012) April 2013: 7.6%
Personal Income per Capita ( Up 6% over 2010) 2011: $36,884
Patents/Tech Transfer Activity  2010: 2,914
Educational Attainment (Bachelor’s Degree or higher) 2011 3-yr est. 27.4%
Export Growth  2011: $49.4 B
Construction permits 2012 (SEMCOG): 5,577

Median Housing Value – 2010 5 year ACS

The Detroit region’s housing market proves to be very affordable. Detroit is the number one metro area for affordability of homeownership, according to a 2012 Trulia study. Additionally, the region’s recovery in the housing market has been strong with the number of home sales increasing since 2011.

Median Housing Value Chart

County/Metro Area Median House Value Median Rent Value
Gensee County $108,284 $515
Lapeer County $135,902 $555
Lenawee County $130,134 $577
Livingston County $216,400 $860
Macomb County $157,000 $752
Monroe County $161,800 $733
Oakland County $204,300 $871
St. Clair $150,300 $691
Washtenaw County $216,200 $866
Wayne County $121,100 $759

Source: SEMCOG.

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Spotlight

DETROIT, February 21, 2014: Today, Detroit Regional Chamber President and CEO Sandy K. Baruah issued the following statement on the Detroit Plan of Adjustment: “Detroit’s Plan of Adjustment provides a clear, workable and reasonable strategy to exit this historic bankruptcy. Continue Reading Continue Reading