A new economic impact analysis shows that the Detroit Land Bank (DLBA) has generated $2,039,478,698 in increased home values across Detroit neighborhoods since 2014. The report conducted by Griswold Consulting Group, illustrates the measurable and transformative impact of the DLBA’s demolition and rehabilitation activity on Detroit’s housing market and long-term neighborhood stability.

The analysis highlights that the DLBA is approaching its 30,000th residential demolition and 13,000th completed renovation, a scale unmatched by any other land bank in the nation. These strategic actions have protected and increased nearby home values, reversed long-standing decline, and helped stabilize housing markets across all seven City Council districts.

Key Findings:

• $2.039 billion total economic impact on nearby home values from DLBA demolition and rehabilitation activity since 2014.
• 29,065 demolitions have generated $874,630,860 in increased surrounding home values.
• 12,816 rehabilitations have generated $1,164,847,838 in increased nearby home values.
• On average, each demolition increases nearby home values by more than $30,000, while each non-distressed rehabilitation increases home values by nearly $91,000.
• DLBA activity is closely aligned with Detroit’s 112% increase in owner-occupied home values, as identified in a recent University of Michigan study, with as much as 40% of this appreciation potentially attributable to DLBA interventions.