NAICS 52

Finance and Insurance in Detroit-Warren-Dearborn, MI

Metro Market Score 54.5 (Challenging), ranked #216 of 331 metros. 5,309 establishments, 78,355 jobs.

Metro Market Assessment

Metro Market Score 54.5
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Challenging

ⓘ Lower is better. Relative to national finance and insurance average.

💰High-Cost Market📈Rapid Growth

Despite a mature finance and insurance presence (concentration: 86.1), Detroit-Warren-Dearborn is still adding jobs in this sector. Growth trend sits at 82.8, and the overall 54.5 market score lands in the lower half. Established markets with growth are worth a closer look.

Industry Concentration
86.1
LQ: 1.01
Rank #285 of 331 metros
Wage Competitiveness
80.7
$108,395 avg wage
Growth Trend
↑ 82.8
Employment growth index
Rank #58 of 331 metros
Wage Pressure
38.0
YoY wage change index

5,309 Finance and Insurance Firms in Detroit-Warren-Dearborn

5,309
Establishments
-6.4% YoY
78,355
Total Employment
+2.4% YoY
$108,395
Average Annual Wage
+3.1% YoY
1.01
Location Quotient
Above national avg

Detroit-Warren-Dearborn vs Michigan Statewide

How this metro's finance and insurance market compares to Michigan overall. The state ranks #23/51 for entry risk.

Measure Detroit-Warren-Dearborn MI Statewide
Overall Score 54.5 Challenging 49.8 Elevated
Score Type Metro Market Score Entry Risk Score
Rank #216 of 331 metros #23 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Detroit-Warren-Dearborn

Accommodation and Food Services 47.8 Healthcare and Social Assistance 48.6 Construction 50.0 Other Services 58.5 Real Estate and Rental and Leasing 61.4 Information 63.0 Retail Trade 63.5 Professional, Scientific, and Technical Services 79.1

Finance and Insurance in Other Michigan Metros

Monroe 17.3 #2/331 Muskegon-Norton Shores 19.4 #8/331 Battle Creek 24.2 #18/331 Bay City 31.5 #57/331 Midland 41.6 #113/331 Jackson 42.4 #122/331 Niles 44.1 #138/331 Grand Rapids-Wyoming-Kentwood 47.8 #158/331 Lansing-East Lansing 50.5 #176/331 Ann Arbor 52.0 #188/331

+ 4 more metros. View all in Michigan →

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Detroit-Warren-Dearborn's finance and insurance sector, the industry concentration component (86.1) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.