GRAND HAVEN, Mich. (WOOD) — According to the personal finance site Smart Asset, research done in a recent study shows several West Michigan cities rank among the healthiest housing markets in the country.
A healthy housing market is determined by one that is stable and affordable. Smart Asset looked at several factors to determine this: how long people stay in their homes, the percentage of homeowners who owe more than their home is worth, how long homes stayed on the market, how many homes decreased in value and the monthly cost of owning a home as a percentage of household income.
Based on this, five Michigan cities ranked in the top 10 healthiest markets nationwide. Four of those cities are in West Michigan. Jenison is ranked 4th, Walker is 5th, Northview is 8th and Wyoming is 9th.
News 8 talked to the West Michigan Lakeshore Association of Realtors CEO Dale Zahn, who said the results of the study don’t surprise him or his colleagues. There is no surprise because there are a lot that draws people to West Michigan. For example, good schools and being near the lakeshore.
Zahn also talked about what results of the study means for people who live in the area.
“Well, it means you’re hopefully going to be here for a while, that they have reason to stay,” said Zahn. “It means that other people are enthused and coming into the area and of course, the thing we haven’t noted yet is jobs, and jobs are on the upswing,” said Zahn.
For a closer look at the healthiest housing markets in Michigan, click here.