Michigan is the eleventh largest state by area, with a population of 10,003,000 (U.S. Census Bureau, July 1, 2019). Throughout history, there have been important milestones that helped shape Michigan. In 1783, the state of Michigan became part of the United States of American with the signing of the Treaty of Paris. With the invention of the automobile, Michigan became the headquarters for Henry T. Ford and his Ford Motor Company to mass-produce 15 million Model T automobiles. Michigan was the birthplace of Gerald R. Ford, who later became the thirty-eighth president of the United States.
Today, Michigan's economy has a GDP of $537 billion (Bureau of Economic Analysis, July 1, 2018), which is driven by these top industries: automobile industry, advanced manufacturing, food and agriculture, freshwater technology and services, and Christmas trees. Many of the leading Fortune 500 companies have their headquarters in Michigan, including General Motors, Ford Motors, DowDuPont, and Kellog, to name a few.
The most recognized cities in Michigan are Detroit, Grand Rapids, and Lansing.
Detroit is located in southeastern Michigan and has a population of 679,865. Detroit is home to the Detroit Institute of Arts, The Henry Ford Museum, Belle Isle, and GM Renaissance Center. Over the last ten years, Detroit's housing market has appreciated by 28.75%. When compared to the rest of the nation, Detroit's housing prices are more affordable, with the median home price of $42,800 and a median rent of $773.
Grand Rapids is in the western part of Michigan and has a population of 195,355. Grand Rapids is home to the Frederik Meijer Gardens, John Ball Zoo, and The Gerald Ford Presidential Museum. Over the last ten years, Grand Rapids' housing market has appreciated by 71.08%. When compared to the rest of the country, Grand Rapids' housing prices are significantly less, with the median home price of $121,800 and a median rent of $854.
Lansing is the capital of Michigan and has a population of 115,222. Lansing is home to the Potter Park Zoo, Impression 5 Science Center, and Michigan State Capitol. Over the last ten years, Lansing's housing market has appreciated by 1.66% annually. When compared to the rest of the nation, Lansing's housing prices are less expensive, with the median home price of $77,100 and a median rent of $791.
|Single Family Homes for sale in Michigan|
|Average List Price||$326,250|
|Average Price Per Square Feet||$157|
|Condos for sale in Michigan|
|Average List Price||$281,979|
|Average Price Per Square Feet||$179|
|Townhomes for sale in Michigan|
|Average List Price||$256,247|
|Average Price Per Square Feet||$143|