Why Michigan
This Is Our Community
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Why You Should Invest
Affordability Compared to National Average
The median home price in Southeast Michigan is significantly lower than the national median home price. For example, the median home price is around ~$280,000, which is about 33% lower than the national median home price of ~$415,000 This affordability makes Southeast Michigan an attractive option for investors looking for a more affordable real estate market. [Source: Rocket Homes, Redfin]
Strong Rental Market and High Rent Growth
The rental market in Southeast Michigan is also very strong. The median rent for a one-bedroom apartment is around $871, which is lower than the national median national rent of $1,499. This strong rental market means that investors can expect to earn a good return on their investment by renting out properties in Southeast Michigan. The average rent growth rate in Southeast Michigan is around +6-12% within the various counties,, which is higher than the national average of 6.8%. This means that investors can expect to earn a relatively higher ROI from Southeast Michigan real estate than in other real estate markets.
[Source: Apartment List, BLS]
[Source: Apartment List, BLS]
Revitalization and Development
There is a lot of revitalization and development happening in Southeast Michigan, particularly in Detroit, Ann Arbor, and other major cities. This revitalization is leading to the creation of new businesses, restaurants, and cultural attractions, which is making Southeast Michigan an even more attractive place to live and work. This revitalization and development is expected to continue in the coming years, which could further drive up property values.
Economic Growth and Job Opportunities
The economy of Southeast Michigan is growing, driven by the automotive industry, healthcare, and technology. This economic growth is creating jobs and attracting new residents to the region, which is further fueling demand for housing. The unemployment rate in Southeast Michigan is lower than the national unemployment rate, indicating a strong job market.