Home Prices in This Michigan City Have Risen 62% Since 2000
The housing market is out of control right now, as prices keep rising. Some metro cities have seen housing prices increase more than 200% since 2000. How crazy is that?…
(Photo by Tim Boyle/Getty Images)
The housing market is out of control right now, as prices keep rising. Some metro cities have seen housing prices increase more than 200% since 2000. How crazy is that?
Still, a handful of metro cities still have relatively low housing prices and have increased less than 100% since 2000. One major Michigan city is on that list.
According to AnyTimeEstimate.com, only eight cities have seen home prices increase less than 100% since 2000. They call this an "impressive feat in today's market." As for the metros that have increased more than 200% since 2000, they state, "Much of the growth seen in home values has, unsurprisingly, centered around California's housing market. Overall, the Golden State's biggest metros have seen an average increase of 277% in the typical home value since 2000, and these cities lead the pack at the national level."
So, which Michigan city is among the lowest for home prices increases since 2000? Detroit. In fact, the Motor City only trails Cleveland, Ohio, when it comes to its low home-price inflation. Home prices in Detroit have increased just 62% since 2000. I know it might sound like 62% is a lot, but it totally isn't. Home prices in San Francisco, California, have increased 290% since 2000. I have a friend out there who can attest to the fact it's super hard to get a home, or rent, in San Francisco right now.
As for mythology, AnyTimeEstimate.com states, "Median sales price of homes sold in the United States (MSPUS) are retrieved from the Federal Reserve Bank of St. Louis. For more recent home typical values, we use the Zillow Home Value Index (ZHVI). As an overall measure of inflation, we use the Consumer Price Index for All Urban Consumers (CPIAUCSL), which measures the average monthly change in the price of goods and services paid by urban consumers between any two time periods." They add, "We also use data on real median household income in the United States provided by the Federal Reserve Bank of St. Louis. This data dates back to 1984 and is adjusted for inflation. For the prices of household goods, we use the consumer price index (CPI) measure for individual goods provided by the U.S. Bureau of Labor Statistics."
I happen to think that Michigan has plenty of amazing places to live. From the beauty of the UP to the hustle and bustle of the major cities, Michigan really has something for everyone. If you've ever wondered what would be the best place in Michigan to live, we have the answer.
Niche has released the outlet's annual Best Places to Live rankings, which ranks the best cities and communities to live in judging by a variety of criteria. According to Niche, the results were based on several key factors, such as the quality of local schools, crime rates, housing trends, employment statistics and access to amenities. Using all of that data, they put together a list of the best cities to live in Michigan for 2022.
Going outside of Michigan, the handful of cities at the top of the list includes Chesterbrook, Pennsylvania; City Center, California; Penn Wynee, Pennsylvania; and Houserville, Pennsylvania. Gosh, that's a lot of love for Pennsylvania. I've been to that state many times, and it's beautiful, but I had no idea it had so many cities that would be considered the best in the U.S. In Michigan, the highest-rated city was Okemos, coming in at No. 12 for the entire country. I am very familiar with Okemos and totally agree it's a great place to be, so that result doesn't really surprise me.
Read on for the full list of the 35 best places to live in Michigan via Niche. Is your favorite Michigan city here? I was surprised to see Ann Arbor at No. 12, since they are usually No. 1 on these lists. That said, No. 12 is pretty great. I was also hoping to see Detroit on here. Needless to say, all the cities on here are deserving, but remember to venture outside of this list, since Michigan is packed with great spots to live.
Read on for the 35 Best Places to Live in the Michigan for 2022
This list is courtesy of Niche.
Okemos
Troy
Bloomfield Township
Huntington Woods
Beverly Hills
Grosse Pointe Park
Novi
East Grand Rapids
Northville
Haslett
Ann Arbor
Birmingham
Lodi Township
Grosse Pointe Farms
Farmington
Royal Oak
Berkley
Eastgate
Northville Township
Grosse Pointe
Eastown
Fulton Heights
Forest Hills
Franklin
Pittsfield Township
Larkin Charter Township
http://www.larkintownship.org/
Rochester Hills
Pleasant Ridge
Grosse Pointe Woods
Farmington Hills
Rochester
Oakland Charter Township
http://www.oaklandtownship.org/community_info/about_oakland_township/index.php
