OZ Pitch Day - June 13, 2024
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OZ Pitch Day - June 13, 2024
Census Tract 5047, Detroit, Michigan
Census Tract 5047 is a Low-Income CommunityOpportunity Zone located in Detroit, Michigan.
This 0.5 square milecensus tract has a population of approximately 1,700and is one of 94 Opportunity Zones in Wayne County.
The adjacent map shows the location of this Opportunity Zone in Michigan.
Census Tract 5047 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
$26K |
This Opportunity Zone has a median household incomeof approximately $26,000, which is 57% lowerthan the median household income for the state of Michigan of $60,000.
Poverty Rate
36% |
The percentage of households below the poverty line in this Opportunity Zone is 36%, which is 23% higherthan the rate for the state of Michigan of 13%.
Median Home Value
$25K |
This Opportunity Zone has a median home valueof approximately $25,000, which is 85% lowerthan the median home value for the state of Michigan of $170,000.
Education
71% |
This Opportunity Zone has a percentage of population with high school diplomaof approximately 71%, which is 20% lowerthan the rate for the state of Michigan of 91%.
Median Age
43 |
This Opportunity Zone has a median ageof approximately 43, which is 8% higherthan the median age for the state of Michigan of 40.
Michigan OZ Funds
There are 6QOZ Fundsin the OpportunityDb database with an investment objective that specifically identify Michiganas a target market. Additional OZ funds may also invest in Michigan; see a complete list of Opportunity Zone Funds here.
| Fund Name | Asset Classes | Property Types | Fund Size |
|---|---|---|---|
| Accredited Capital | Real Estate | Multi-Family Housing, Residential, Single-Family Housing | $25M |
| Beacon Rose Opportunity Zone Fund | Real Estate | Industrial, Mixed-Use, Multi-Family Housing, Residential, Student Housing | $100M |
| Community Outcome Fund | Business, Real Estate | Commercial, Infrastructure, Mixed-Use, Residential | $500M |
| Greatwater Opportunity Capital Detroit Opportunity Fund | Real Estate | Commercial, Mixed-Use, Multi-Family Housing, Residential | $100M |
| Urban Array Opportunity Fund | Business, Real Estate | Commercial, Office, Residential | $5M |
| Wefunder Detroit Opportunity Fund | Business | $100K |