DETROIT
06/18/2013 08:26 am ET

Downtown Detroit Rents Go Through Roof | The Detroit News

Kate Abbey-Lambertz

Detroit — Residential rent prices in the gentrifying neighborhoods of Detroit are steadily marching upward, climbing in some cases by $3,000 more per year for the same place, and landlords are pushing them higher at every opportunity.

That’s because the rent is still too low for buildings to pay for themselves without relying on government subsidies and foundation dole, developers and city economic officials contend. But the demand to live in Corktown, downtown, Midtown and along the riverfront is red hot — nine of 10 rental units in those neighborhoods are occupied, according to studies.

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