GRAND RAPIDS, Mich. (WOOD) — If you’re on the hunt for a new home in West Michigan, you may have to pay more than a few extra bucks, regardless of if you’re buying or renting.
According to experts, it’s a problem that’s been happening in the region for a while — buyers and renters looking for new places to live, but not enough inventory and more people moving to the area.
“Still, we’re looking at multiple offers per house,” said Krissy Dykstra, a realtor with Coldwell Banker. “In the higher price ranges, they’re not selling quite as fast, but they’re still selling.”
According to Dykstra, the most competitive price point includes anything under $300,000.
“I think it’s probably going to stay pretty consistent,” she said. “I don’t ever see the prices going down. Possibly up a little bit, but a spring market always gets hot, so the fall is always going to be a little bit slower … West Michigan is definitely a prime location, where a lot of people want to move here. A lot of people have come from Chicago, they come from California, and now people can work remote, so they want to come here and they want to enjoy the West Michigan lifestyle, with the money from the other places.”
When it comes to renting, it’s not much different.
Payton Brazzil rents a house in Grand Rapids — a six-bedroom house with three other roommates. They each pay $625 per month, which comes out to $2,500 a month for the entire house.
“We were looking for a place to rent in August and it was really difficult because we would find places that looked amazing, but it was either that rent was too high or it was in a neighborhood that we weren’t looking for,” she said. “And then when we would finally find something that we liked, we would reach out and they wouldn’t respond for a while.”
According to the Rental Property Owners Association, Kent County is short 35,000 units in total.
“We are not specifically seeing a change in that right now,” said Erika Farley with the Rental Property Owners Association. “We’re all kind of waiting to see what the next year or so brings.”
According to Farley, they’re expecting rental prices to remain high but level out.
*Correction: A previous version of this article misstated the number of units Kent County is short. We regret the error, which has been fixed.