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Census Tract 5240, Detroit, Michigan
Census Tract 5240 is a Low-Income CommunityOpportunity Zone located in Detroit, Michigan.
This 0.6 square milecensus tract has a population of approximately 3,300and is one of 94 Opportunity Zones in Wayne County.
The adjacent map shows the location of this Opportunity Zone in Michigan.
Census Tract 5240 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
This Opportunity Zone has a median household incomeof approximately $28,000, which is 53% lowerthan the median household income for the state of Michigan of $60,000.
The percentage of households below the poverty line in this Opportunity Zone is 44%, which is 31% higherthan the rate for the state of Michigan of 13%.
Median Home Value
This Opportunity Zone has a median home valueof approximately $39,000, which is 77% lowerthan the median home value for the state of Michigan of $170,000.
This Opportunity Zone has a percentage of population with high school diplomaof approximately 58%, which is 33% lowerthan the rate for the state of Michigan of 91%.
This Opportunity Zone has a median ageof approximately 31, which is 22% lowerthan 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|
There are no Opportunity Zone Funds in the OpportunityDb databasewith a focus specifically on Michigan properties.