This is how much real estate $1 million can buy you in Detroit

March 25, 2014
By
(Source: Wikimedia Commons)

(Source: Wikimedia Commons)

An infographic culled from real estate sources offers this eye-popping stat: At $12 per square foot on average, $1 million can buy more than 83,000 square feet of real estate in Detroit.

Now, for all those looking to shake loose a cool $1 million (!), that’s not to say you can simply scoop up a handful of 10,000 square foot mansions — the data, first posted by Business Insider yesterday, is based off the median price per square foot in each city.

But it caught our eye that the next city on the list, Cleveland, could score a prospective buyer nearly four times as less real estate than Detroit at 21,739 square feet per $1 million.

  • Mark Parsons

    Detroit is so bad you can buy a single family house for $500 and a vacant residential lot for $1. This is a FACT; as there are over 300,000 vacant homes int he city and entire neighborhoods that have no residents at all

  • nobsartist

    My life is worth more than a million so I wont go near the shit hole.

  • Sammy J from the D

    There are shitty places and not so shitty places – but in no way it Detroit as a whole a shit hole as you put it – spend some time there before you judge!

  • OhYeahBaby

    Good, stay out then. :)

  • OhYeahBaby

    What’s your point? Other than to be a negative jerk.

  • mitch mitchell

    The people of Detroit are some of THE coolest peeps I have ever met!!!

  • mitch mitchell

    $1million in Vancouver near where I live
    can by you 1000 square feet, redonkulous!

  • Lorenzo Williams

    With prices like the ones mentioned in the article, Detroit sounds like quite the buyers market. And as for all the haters who might make negative comments, it’s clear they’re just jealous, too. I’d be jealous of people living in Detroit, too, if I was stuck living with my parents in Oakland county with “a movie theater on every corner” and L Brooks Patterson spending taxpayer dollars to pay off the Oakland county Sheriff’s who pull him over after he’s about a 24 pack deep.

  • aphguy

    Most of the houses that you speak of are owned by Wayne County. Most were fire damaged or looted of all the major components. The empty lots are plentiful because there are so many of them. The county wants to get them off their books, and back on the county tax rolls. Real estate agents aren’t spending any time on them, and aren’t pushing low cost home. If an agent sells a home for $10,000, then the agent’s commission would be 3 % or about $300. They have bigger fish to fry.
    And on the other hand, you can buy a mansion in this low priced real estate market in Detroit for $750,000. In a recovered market, the same property would be $3 million.

  • aphguy

    I live an hour from Detroit and love going there. I have been there well over 100 times and have never been a victim of crime. If you are going to Detroit or any other city, and you are looking for trouble, then you will find it.
    I don’t live in fear, so I am able to enjoy all the great things Detroit has to offer.

  • cziriak

    I like Detroit

  • StopTheIgnorance

    Stop breeding ignorance. I live in Detroit and my neighborhood is safe, my neighbors are awesome, with a greater sense of community than I’ve experience in most other towns/cities, and government services are fully functioning. This is a really interesting city with a lot going on, especially in the arts community. By referring to Detroit as a “shit hole” or claiming that you’ll be killed if you come near here, you’re just perpetuating misguided and, let’s face it, racially-charged stereotypes. You’re an ass, and we don’t want you here.

  • StopTheIgnorance

    The city isn’t “bad”; it just isn’t at capacity. It’s a city built for 2 million with a population of 700,000. This is due to a complicated history but in no way reflects the current city vibe.

  • Clint Young

    He’s just stating facts and you’re up in arms with the cowardly name-calling. What’s your point?

  • Clint Young

    I question your rose-colored optimism and disgusting attitude towards anyone with an opinion.