Looking for a cheap homes in Michigan? You’re in luck! There are plenty of homes for sale in Michigan that are affordable and within your budget.
Michigan is known as The Great Lake State with 3177 miles of shoreline or as The Wolverine State. The state is divided into two Peninsula’s Upper and Lower. Upper side of the state is less populated and with more wilderness.
There is almost 10 millions people living in Michigan with 40% of residents living in the agglomeration of Detroit-Warren-Dearborn area. Between 2006-2016 the real estate has depreciated over 10% in Michigan, which opens the opportunity to buy a cheap homes in Michigan.
Where to find cheap homes in Michigan?
One great option is to check out the listings on foreclosure and abandoned properties websites like AuctionFlippers.com. There you will find many homes that have been foreclosed on and are now being offered at a discount. Another option is to look for short sales. These are homes that are being sold by the owner, but the bank has already approved the sale and agreed to let it go for a lower price than what is owed on the mortgage.
The median home value in Michigan is close to $200k with 34% of homes varying between $133-266k. Recent annual appreciation rate is over 22% with average market rent almost $1300. in Michigan there is over 72% of family houses, and only 5% of mobile homes and 4.6% of townhomes and 13% of apartment complexes.
Affordable Homes in Michigan
If you’re not interested in buying a foreclosure or short sale, don’t worry – there are still plenty of affordable homes available in Michigan on the regular market. Just be sure to keep an open mind about location – some of the cheapest homes can be found outside of big cities like Detroit or Grand Rapids.
Whatever route you decide to take, remember that buying a home doesn’t have to be expensive! With some research and patience, you can find yourself living in your own place without breaking the bank
Look at some of the best deals on cheap homes in Michigan