Five major U.S. metropolitan areas—Detroit, Omaha, San Francisco, Philadelphia, and parts of Michigan—are experiencing a surge in external homebuyer demand due to significant investments in technology infrastructure like data centers. This influx is driven by tech giants such as Google, Meta, and Oracle, leading to higher property values but also raising concerns about local affordability as housing costs outpace wage growth. Detroit stands out with nearly 52% of online traffic from out-of-state buyers, primarily from Midwest cities, attracted by architectural character and stronger value at comparable price points compared to coastal markets. In these areas, outside capital typically targets move-in-ready historic homes or entry-level properties suitable for rentals, pushing up prices faster than local wages can accommodate, particularly affecting first-time homebuyers. Despite this trend, Detroit remains more affordable with a median asking price of $235,000 compared to the national average.
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