The Ten Most and Least Affordable Cities list was put together by the National Association of Home Builders. There were two lists of Most and Least Affordable Cities - those with populations over 500,000 and those under 500,000.
It's not surprising that no Michigan cities made the Least Affordable list, but it was nice to see three metropolitan cities make the Most Affordable list for metropolitan areas over 500,000 in population. The unfortunate aspect is the reasoning behind being affordable. If you look at the most affordable cities list you will see it is dominated by Midwest towns that had relied heavily on manufacturing and now suffer from high unemployment.
Forbes.com tweaked this listing because of the above problem and eliminated cities like Detroit and Phoenix based on additional criteria that "excluded any city any city where home prices fell by more than 10% last year."
I think Michigan is a good place to invest in right now because we've been in a recession for a few years now and the state has been positioning itself for new technologies and industries that I think will put us ahead of the nation in the long run. It's all about perseverance and staying the course.
Now for the list of Michigan cities with 500,000+ population that made the Most Affordable List:
2. Warren-Troy-Farmington Hills, MI
4. Detroit-Livonia-Dearborn, MI
5. Grand Rapids-Wyoming, MI
Here's the Michigan cities with population under 500,000 that made the Most Affordable List:
1. Lansing-East Lansing, MI
5. Bay City, MI
6. Battle Creek, MI
8. Saginaw-Saginaw Township North, MI
See the entire list
Thanks to Billfer for the link.
