3. Cross the city
Traverse City is a scenic destination nestled in northern Michigan. The city’s natural beauty, including the stunning Lake Michigan coastline, makes it an attractive market for vacation rentals and year-round accommodations. The area offers opportunities for waterfront properties, vacation homes and properties catering to the tourism industry.
The median home listing price in Traverse City is $449,000 and homes are selling for 97.37% of their asking price. This indicates a high demand for properties in the area and a high probability of obtaining a profitable return on investment. With its scenic beauty and tourist appeal, Traverse City is an excellent choice for real estate investors.
4. Lansing
Lansing, the state capital, presents opportunities for real estate investors looking for affordable properties. The city’s affordability and proximity to major universities make it a popular choice for student accommodation. Additionally, Lansing’s economic growth, revitalization efforts, and government presence contribute to property stability and appreciation potential.
The median listing price for homes in Lansing is $224,900, up more than 17% year over year. This indicates a positive trend in property values, making it an attractive market for investors looking for affordable properties with appreciation potential. The demand for student housing also provides a reliable rental market in Lansing.
5. Kalamazoo
Kalamazoo offers a mix of urban amenities and a strong rental market. The city is home to Western Michigan University and has a diverse economy driven by health care, education and manufacturing. Investors can find opportunities in student housing, multi-family properties and single-family homes.
The median home listing price in Kalamazoo is $179,000 and homes are selling for 97.75% of their asking price. This indicates a high level of demand for properties in the area and potential for a profitable return on investment. With its strong rental market and diverse economy, Kalamazoo represents a promising real estate investment opportunity.
6. Royal Oak
Royal Oak is a suburban community located just outside of Detroit that has seen a resurgence in popularity. The city offers a lively downtown area with a variety of entertainment, restaurants and shops. With its strong school district and attractive neighborhoods, Royal Oak appeals to families and young professionals, making it a sought-after market for residential real estate.
The median home listing price in Royal Oak is $349,900 and homes are selling for 99.45% of their asking price. This indicates strong demand for properties in the area and potential for a profitable return on investment. With its sought-after location and amenities, Royal Oak is a great choice for real estate investors.