October 17, 2023
Detroit Future City (DFC) report, “Small-Dollar Mortgages: The Role of Small-Dollar Mortgages in Detroit’s Housing Market,” examines the role of small-dollar mortgages in Detroit’s housing market, explains what factors influence the availability and demand for small-dollar mortgages, profiles the dynamics of small-dollar mortgages in three different Detroit neighborhoods, and provides recommendations for increasing small-dollar lending in Detroit for Black homebuyers. DFC developed this report as part of its mission to rebuild Detroit’s Black Middle Class, acknowledging that homeownership is a critical component to creating generation wealth.
Data Driven Detroit produced an online tool that can be used to interact with data. Interact with the data here.
This report is a publication of DFC’s Center for Equity, Engagement and Research, produced in partnership with Data Driven Detroit, and funded by Black Wealth Data Center, with support from Bloomberg Philanthropies’ Greenwood Initiative.Read the report