Found 5 blog entries tagged as Michigan Real Estate Trends.

It’s getting harder for Michigan renters to keep a roof overhead. In fact, a new report finds you’d have to earn about $24.46 per hour while working full-time to afford a modest two-bedroom apartment in Michigan. That figure, almost $25 an hour, far outpaces what many Michiganders actually earn. For families and young workers across Metro Detroit and beyond, this growing gap between rent and wages is becoming impossible to ignore.

What does a “$25 housing wage” really mean, and why are so many of our neighbors feeling the squeeze? This article breaks down the numbers and local insights behind Michigan’s rental affordability crunch. Written in the voice of a lifelong Michigander and Metro Detroit real estate expert, it’s a friendly deep-dive into why…

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Metro Detroit is turning a corner and gaining people, a trend that has locals buzzing. After decades of population loss and slow growth, new census data shows a modest but meaningful uptick in the region’s population, driven largely by thriving immigrant communities and new housing developments. In a tone of optimism and hometown pride, let’s dive into which Metro Detroit communities are growing the fastest, why it’s happening, and what it means for families and residents. This is the inside scoop from a lifelong Michigander’s perspective, offering friendly expert insights on where people are moving and why these areas are booming.

A Population Surge Fueled by Diversity and Immigration

Metro Detroit’s growth spurt is closely tied to its…

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In a country where buying a home often feels out of reach, Metro Detroit stands out as an unexpected housing hero. This Midwest metro area has quietly topped a new national ranking for affordable housing. Yes – you read that right. According to a recent report by Clever Real Estate, Metro Detroit is one of only two major U.S. cities where the median household income is sufficient to afford a median-priced home in the area. In an era of sky-high prices, affordable housing in Metro Detroit isn’t just a catchphrase – it’s a reality that’s turning heads in the real estate world.

Metro Detroit’s Housing Affordability by the Numbers

How did Detroit earn this distinction? The numbers tell the story. The Clever Real Estate study used a standard…

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Detroit is on the brink of a monumental transformation. From groundbreaking infrastructure projects to innovative mixed-use developments, the city is evolving into a dynamic hub of culture, commerce, and community. Here's a comprehensive look at the key projects that will redefine Detroit’s skyline and its role as a center of innovation and growth.

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Catalysts for Education and Innovation

University of Michigan Center for Innovation (UMCI)

The University of Michigan’s Center for Innovation marks a defining moment in Detroit’s educational and economic evolution. This $250 million investment spans 200,000 square feet, strategically located in the burgeoning Ilitch's District Detroit area. Groundbreaking occurred in…

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Metro Detroit's real estate market demonstrated remarkable resilience and dynamism in November 2024, with home prices experiencing their largest year-over-year increase of the year. The median sale price in the region climbed by an impressive 10.3%, reaching $323,500 compared to $293,250 in November 2023. This growth is reflective of persistent demand outpacing supply, shaping a competitive landscape for buyers and sellers alike.

A Historic Surge in Home Prices

The 10.3% increase in Metro Detroit's median sale price marks a defining moment for the market in 2024. This surge was driven by significant gains across the region, with Wayne County taking the lead in absolute price growth. The county's median home price rose from $169,000 to $191,000,…

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