On Tuesday, December 5, leading online real estate investment and management firm HomeUnion released its list of the most sought-after housing markets in 2017. Detroit ranked fourth, behind only Chicago, Columbus, OH, and Atlanta.
To create the list, HomeUnion analyzed two years of sales data on single-family rental (SFR) properties across the United States.
Echoing sentiments about Detroit and other Rust Belt cities expressed in this Bloomberg article, Steve Hovland, HomeUnion’s director of research, said their list “highlights the growing popularity of Midwest real estate markets.” Rentals in these metro areas, he said, “are trading at a faster rate than before as their local economies continue to grow, the cost of living is lower than it is in most coastal metros, and median local incomes are keeping pace with home values.”
[Launch the slideshow from National Real Estate Investor.]