See BLS ReportAccording to the latest Bureau of Labor Statistics report, Indianapolis' unemployment rate was just 3.8% in September compared to 3.9% for Dallas.

But looking at the statistics, Detroit proper has lost 2/3s of its population since the peak in 1950.  

I'd be willing to bet that if you did some statistics research, you'd find out that your average wage earner could not afford these rents.  

Regarding unemployment data Bureau of Labor Statistics good place to start:https://www.bls.gov/But I also recommend that you find an investor friendly realtor in your area that can pull some RPR reports for you.

.-  Given that were are likely near the top of the market (just statistically speaking), I'm not a fan of projects that will take a long time. 

Some even chase after them, ha.Lots of places to invest that have never been hit by a tornado and statistically low to be hit by one.

But I saw the startling (and I’m sure true) statistic that rents on average in the Bay Area are about 50% above the lowest of post-bubble rents.

Goes back to how inaccurate are those statistics when people can't correctly identify a dog.I like Shaun's comment about requiring paperwork showing the dog has done obedience training and/or successfully earned the Canine Good Citizen (CGC) title from AKC (which isn't difficult at all, even the advanced CGC title).

I have heard lot of experienced investors spew out a statistic that out of every 10 offers only 1 will get accepted.

For what it is worth the statistic is not the "last 3 years" it is 2007-10