The Fastest Growing Real Estate Areas in Michigan? Close to Home!
We keep hearing that Michigan is losing people as folks move out of the state to other parts. It's a depressing feeling that so many people seem to be leaving our beloved state.
But not here. According to the real estate website Aceable Agent, Michigan's population is shifting from major metro areas. Do I hear Detroit,
to nearby suburbs and other outstate areas?
So where are people moving? The top three growing cities on their list for 2023 are all in West Michigan and the Grand Rapids area. The rest are spread across the state.
So how does it look and which cities are growing the fastest in Michigan for 2023?
1. Grand Rapids
Grand Rapids is one place bucking the trends. In fact, USA Today ranked Grand Rapids as the seventh hottest real estate market in the country for 2023 — one of only two Midwest cities on the hot list. The median price for a home in Grand Rapids at the end of 2022 was $358,000, and home prices are expected to increase by another 10% in 2023.
2. East Grand Rapid
East Grand Rapids is one of the state’s richest cities and is consistently ranked as one of the best U.S. cities to live in. Although home to less than 12,000 people, the typical home price here is $601,000.
Wyoming — the city, not the state — is another fast-growing market. Wyoming, Michigan, borders Grand Rapids and is home to more than 76,500 people. The median listing price for homes is $224,900.
4. Traverse City
Traverse City is in the northern part of the state with access to Traverse Bay and Lake Michigan. The median listing price for homes is $449,000. Although the average home sold for $350,000 in 2022.
Not too shabby is it? We have always known what a gem West Michigan is. Now, others are discovering it, too since the Grand Rapids metro area has grown to over 1.2 million people.
$12.5M Michigan Mansion