Description

Residential property is important to numerous stakeholders. Homeownership is the largest single asset for most residents. Owning a home creates a multiplier effect that helps local industries grow (e.g, construction, landscaping, real estate agents, and household services). Residential property is important to local government too, for it makes up more than 70 percent of Southeast Michigan's property tax base. This index is provided quarterly and is estimated using sales prices and appraisal data. For this dataset, the Detroit Metropolitan Statistical Area (MSA) is split into its Metropolitan Division (MSAD); Warren-Troy-Farmington Hills includes Lapeer, Livingston, Macomb, Oakland, and St Clair counties, while Detroit-Dearborn-Livonia represents Wayne county.

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