Downtown Detroit Occupancy Rate Is Now Over 99 Percent
The residential occupancy rate for downtown Detroit is about as high as it can go.
A survey by D:hive, in collaboration with the Downtown Detroit Partnership, found the occupancy rate for May was 99.4 percent, up 3 percent from the previous quarter.
Surveys over the past couple of years have found an occupancy rate of 95 percent or more in the 26 rental properties in the central business district, which does not include Midtown, another popular neighborhood where residential occupancy reportedly is around 96 percent.
Rents range from $425 to $5,100 per month, the survey found.