Median home price in 2012: $114,000
Projected home price in 2015: $116,706
Projected annual rent in 2015: $9,308
General Motors put Warren on the map in the 1950s, employing thousands of engineers and technicians and making the town one of the wealthiest in the state.
But when car sales collapsed, so did the local economy. The median home price in Warren has dropped to $114,000 from $175,000 in 2005, according to NAHB.
As in Detroit, the biggest risk for investors in Warren is the economy, according to Winzer. If the auto industry continues to heal, the market for rental houses should remain steady.
Winzer expects to see a slight increase in the metro area's home prices by 2015 and to see rents climb as well as the auto industry continues to rebound.
NEXT: Bakersfield, Calif.
