Home » Rents are rising fast in Michigan’s mid-size cities. Here’s why.

Rents are rising fast in Michigan’s mid-size cities. Here’s why.

Rents are rising fast in Michigan’s mid-size cities. Here’s why.

Rents are rising fast in Michigan’s mid-size cities. Here’s why.

Michiganianslookingtoescapehighrentsinthestate’sbiggestcitiesmighthaveahardtimethisyear,eveninmetroareasthathavehistoricallybeenaffordable. Thecostofrentinmid-marketareaslikeLansingandBattleCreekhasrisenmuchfasterthaninDetroitorGrandRapidsoverthelastfewyears,accordingtodatacompiledbyConstructionCoverage,aresearchfirmthatpublishesdataontherealestateindustry. Thepatternofrentalcostsrisingfasterinmid-marketcities“isconsistentwithabroadernationaltrend,”saidJonathanJones,aseniorresearcherforConstructionCoverage. “Secondarymarketshaveseenfasterpercentageincreasesinrecentyearsduetomigration,remotework,anda‘catch-up’effectfromlowerstartingrentlevels,”hesaid. ThemostexpensivecitiesforrenterswerealmostallinCalifornia,accordingtothereport,withtheSanJosemetroarealeadingtheway.CaliforniaandothercoastalstateslikeMassachuset