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





