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 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

Within Michigan

#12 of 15

finance and insurance metros in state

Michigan state rank

#23 of 51

for finance and insurance entry risk

vs State Median

+6.7

worse than median (47.8)

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 →

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Detroit-Warren-Dearborn's 54.5 score. Useful when comparing markets with comparable entry profiles.

Hagerstown-Martinsburg, MD 54.5 #215/331 North Port-Bradenton-Sarasota, FL 54.4 #214/331 Bozeman, MT 54.4 #213/331 Lancaster, PA 54.3 #212/331 San Jose-Sunnyvale-Santa Clara, CA 54.3 #211/331 Champaign-Urbana, IL 54.1 #210/331 Knoxville, TN 54.1 #209/331 Pittsburgh, PA 54.9 #217/331 Waterbury-Shelton, CT 54.0 #208/331 Wildwood-The Villages, FL 55.0 #218/331

Finance and Insurance in States Bordering Michigan

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Wisconsin 45.3 #8/51 Indiana 45.4 #9/51 Ohio 48.2 #14/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

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

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Detroit-Warren-Dearborn, MI MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment