Brief The Financial Health of Detroit Residents
Diana Elliott, Caroline Ratcliffe, Emma Cancian Kalish
Display Date
File
File
Download Report
(291.71 KB)

Detroit has weathered several economic shocks over recent decades, creating a complicated landscape for the financial health of its residents and the city as a whole. The city’s economy depends upon financially healthy residents. This brief uses credit bureau data to examine Detroit residents’ financial health through credit scores, debt profiles, and delinquencies. Sixty-six percent of Detroit residents have a subprime or no credit score, only 19 percent have healthy credit, and 68 percent have delinquent debt. City-level programs and policies could be implemented to help Detroit’s residents improve their financial health.
Research Areas Wealth and financial well-being Neighborhoods, cities, and metros
Tags Asset and debts Credit availability Financial products and services Opportunity and ownership
Policy Centers Center on Labor, Human Services, and Population