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There's a the age old question everyone thinks about when they decide to move to a city in Michigan:
Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Michigan, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Wolverine State.
To do that we are going to look at places in Michigan that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Michigan at the moment? That would be Kingsford according to our analysis.
Here's a look at the top ten places to buy a home in michigan for 2020:
- Kingsford (Photos | Homes For Sale)
- Allegan (Photos | Homes For Sale)
- Frankenmuth (Photos | Homes For Sale)
- Springfield (Photos | Homes For Sale)
- Eaton Rapids (Homes For Sale)
- Grosse Pointe (Photos | Homes For Sale)
- Chelsea (Photos | Homes For Sale)
- St. Clair (Photos | Homes For Sale)
- Swartz Creek (Photos | Homes For Sale)
- Zeeland (Photos | Homes For Sale)
What's the best place to buy a home in Michigan for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.
The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in michigan and, for those of you on a budget, the cheapest places to live in michigan.
For more Michigan reading, check out:
- These Are The 10 Best Counties To Live In Michigan
- 10 Best Places To Raise A Family In Michigan
- These Are The 10 Best Places To Retire In Michigan
The 10 Best Cities To Buy A House In Michigan For 2020
The men after whom Allegan's downtown streets were named - Elisha Ely, Samuel Hubbard, Charles Christopher Trowbridge, Pliny Cutler, and Edmund Monroe - patented land in the area in 1833. They considered the site a prime location for industry, due to its potential for water power and water bound transportation. By 1835, a dam and sawmill had been established.
The Potawatomis established a village in the area of what is now Eaton Rapids in about 1774.
Grosse Pointe was incorporated as a village in 1880, but at that time also included what is now Grosse Pointe Farms. The community was divided along its present lines in 1893 over issues of allowing the sale of alcohol. It was incorporated as a city in 1934.
St. Clair was first platted under the name of Palmer by Thomas Palmer in 1828. The city of St. Clair-s roots go back to 1764, when a British fort was built on the south side of the Pine River near where it flows into the St. Clair River. Pontiac-s Rebellion had taken place the year before and the British wanted a military base on the St. Clair River to protect their shipping route between Detroit and Fort Michilimackinac. Col. Patrick Sinclair was given the task of building it. He also made the new Fort Sinclair a trading post and sawmill center. The fort and the trading post both operated for about twenty years.
The Indians travel the trail that paralleled the Swartz Creek to reach the maple trees on what would later be the Crapo Farm and to fish, fruit gathering and hunting while the trail terminated in the Lansing area.
In 1847, nearly 500 Dutch citizens sailed for America ostensibly to achieve religious freedom, although their decision to immigrate was probably also influenced by other factors, such as their failure to thrive under dire economic conditions in their home province of Zeeland, Netherlands and their opposition to modern scientific and social advances of the time.
How do you determine the best places to buy a home in michigan for 2020?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Michigan. Put differently, the analysis will try to find places in Michigan with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It's still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Michigan with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in Michigan, only 148 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 148 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.
Turns out that Kingsford is the best potential gem in the not-so-rough in the Wolverine State.
Read on for more on these places.
There You Have It - The Best Places To Purchase A House In michigan for 2020
There's our analysis of the best places to buy a house in Michigan. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we'd could rent or buy in these cities, we'd definitely buy.
For more michigan reading, check out: