Average home price (2011): $97,800
Projected home price (2014): $94,600
Gross rent (2011): $681
Projected gross rent (2014): $764
The auto industry's troubles, which began in the mid-2000's, helped send unemployment soaring and
Detroit area home prices plunging some 37% from their peak.
Unfortunately, the industry's modest recovery has done little to drive home prices in the area higher: Winzer forecasts a falloff of another 3% over the next three years.
Rents, though, are expected to rise about 12% over that time. Winzer said the average return on rentals will be about 4.4% higher than the national average.
One risk for real estate investors looking to cash in: The area's unemployment rate is still high -- 11.6% in May -- and the metro area's population has also shrunk, by about 4% since the recession started, as residents fled the bad economy, poor schools and high crime rate, reducing demand for both rentals and sales.
NEXT: Warren, Mich.
