Cities to Know: Detroit

by | 09 May 2016

It’s no secret; The Motor City has racked up its fair share of miles. While Detroit experienced some serious wear and tear during the Great Recession, make no mistake—the city is on the rise. With over 2 million residents calling the city home and city-limit borders that could comfortably fit San Francisco, Manhattan, and Boston combined, the U.S.’s 11th most populous metropolitan statistical area has a lot of potential. Some noteworthy facts when considering Detroit:

  • It’s home to the U.S.’s “big three” automakers: General Motors, Ford Motor Company, and Chrysler.
  • Since 2006, the city has experienced more than $12 billion in new investments across 150 projects.
  • The average rental rate is $12.46/square foot.
  • Detroit households spent 45.85% of their total household expenditures on retail purchases.

To learn more about what keeps Detroit’s engine running, download the Spring/Summer 2016 Knowledge Leader magazine.