With lakes, forests, farmland, college towns, and large cities, Michigan has a little bit of everything. Fortunately, Michigan home prices are at the low end.
Michigan
Michigan is a state of great beauty if your outdoor activities are your thing. The state borders no fewer than four of the Great Lakes and has thousands of smaller lakes within its border. Yes, thousands. With all this water comes the forest and lots of outdoor activities. If you prefer city life, Detroit is in for a renaissance. For a taste of college life, Ann Arbor is home to the University of Michigan.
Ann arbor
Ann Arbor, home to the University of Michigan, is a large college town. With a population of roughly 100,000, it is actually a small town, but it can grow during college football season. The soccer stadium seats more than 100,000 people and people from all over the state make a weekend of the games. With the college atmosphere, Ann Arbor is full of interesting little shops, cafes and has an active nightlife. If you are considering living in a college town, Ann Arbor should be at the top of your list.
Detroit
If ever there was a city that took a beating in the press, it is Detroit. Criticized for an out-of-control crime problem, the city has definitely deserved some criticism in the past. However, these days Detroit is in the process of turning the page. More than BILLION dollars have been spent on downtown renovation and crime statistics have dropped significantly. For comparison purposes, Atlanta and Washington, DC, have much higher crime rates. Detroit’s revival is an ongoing process, so don’t hesitate to check it out. It may be an opportunity to enter the lower deck.
Michigan Real Estate
Michigan real estate prices are surprisingly cheap. A single-family home in Detroit will cost you approximately $ 280,000, while the same home in Ann Arbor costs $ 345,000. On average, prices in Ann Arbor are the highest in the state.
With such reasonable prices, one really wouldn’t expect to see an exciting rate of appreciation in Michigan. For 2005, Michigan real estate appreciated at a paltry rate of just under 5 percent.