Performance indicators for the Detroit short-term rental market based on reliable data.
Listings
Reliable / Active
Cap Rate
Middle-Earners Gross Yield
Revenue
Middle-Earners Revenue
Occupancy
Middle-Earners Occupancy
Home Value
Median Home Sale Price
Top Earners
Top-Earners Revenue
The highest-performing listings in Detroit.
Loading top listings...
Challenging to Investors
Detroit permits STRs citywide with a clear licensing path, but requires a $500 annual STR license, separate rental registration, certificate of compliance, inspections (including lead for pre-1978), annual fire code checks, and imposes a strict 90-day annual rental cap and 10-person occupancy limit; zoning and active enforcement add operational risk, making compliance moderately costly and restrictive.
Local STR Agent
STR specialist · Detroit, MI
Detroit, Michigan, also known as the "Motor City," is a major urban center located in the southeast region of the state. It boasts a rich industrial history, especially noted for its significant contribution to the automobile industry. With a population of around 639,111 as of the 2020 U.S. Census, Detroit is the largest city in Michigan. The city is approximately 5 miles from Windsor, Ontario, Canada, and around 280 miles from Chicago, Illinois, the closest major U.S. metropolitan area.
Detroit offers a variety of attractions and landmarks that make it an appealing destination for short-term rentals. One of the city's most famous landmarks is the Detroit Institute of Arts, home to over 65,000 works including Diego Rivera's iconic Detroit Industry Murals. More information can be found on their official website.
The city’s downtown area features the Renaissance Center, a group of seven interconnected skyscrapers and the global headquarters for General Motors. This area also includes the Detroit Riverwalk, a scenic pathway along the Detroit River that has garnered numerous accolades for its beauty and accessibility.
For sports enthusiasts, Detroit is home to major league teams such as the Detroit Lions (NFL) playing at Ford Field, the Detroit Tigers (MLB) at Comerica Park, and the Detroit Pistons (NBA) and Detroit Red Wings (NHL) at the newly-built Little Caesars Arena. These venues are central to the city's vibrant sports culture and regularly host a variety of events.
Cultural and musical heritage is another strong selling point for Detroit. Known as the birthplace of Motown, the city houses the Motown Museum, also known as "Hitsville U.S.A." This museum is located in the original recording studio where many legendary artists launched their careers.
For visitors interested in exploring the local cuisine, Detroit's Eastern Market is one of the oldest and largest year-round markets in the United States, offering fresh produce, local goods, and a taste of the community’s cultural diversity.
Given its diverse attractions, rich history, and strategic location near other major cities, Detroit is a compelling choice for short-term rentals, promising a mix of historical education, cultural enrichment, and modern entertainment.