Rents going up in downtown Detroit!

"People continue to write bigger rent checks for the chance to live in or around downtown Detroit, with some mainstream rents at levels once reserved for penthouses and other ultra-luxurious spaces.

Driving the higher prices is a demand for apartments at all price ranges in downtown, Midtown and Corktown that still exceeds the supply of available units — despite a mini-boom of construction and building rehabs.

According to local experts, the going rent for newly built or newly restored Class A apartments is up to about $1.70 per square foot in Midtown and $2 per square foot in downtown. It was only five years ago that $1.25 was a common number."

Click here to read more.