Grand Rapids ranks as No. 1 'best-buy' market for homes in US
Buying a house in the Grand Rapids area is considered a good investment.
Forbes has teamed up with Local Market Monitor, a North Carolina-based data company, to track home prices and economic factors in more than 300 U.S. housing markets.
Together, the companies looked at the 100 largest metropolitan statistical areas, or MSAs, for a ranking of the 2016 “Best Buy Cities.”
Grand Rapids tops the ranking posted last week.
Seven Florida cities rank in the top 20, and the report says 2016 is likely going to see worsening home values for buyers.
The report cites Grand Rapids’ 3.1-percent three-year population growth rate, 3.9-percent employment growth in the past 12 months and diverse economy.
The employment growth is the highest among the top 100 MSAs examined, according to the U.S. Bureau of Labor Statistics.
The report cites Grand Valley State University economics professor Paul Isely, who said, “As we came out of the last recession, Grand Rapids was really propelled by the manufacturing side. Now what we’re seeing is the second edge of that, moving into services.”
“Best-buy” markets for housing in 2016
1. Grand Rapids
2. Orlando, Florida
3. San Antonio, Texas
4. Charlotte, North Carolina
5. Salt Lake City
7. Austin, Texas
8. Fort Lauderdale, Florida
10. Cape Coral, Florida
12. North Port, Florida
13. Nashville, Tennessee
14. Tampa, Florida
15. Charleston, South Carolina
16. Denver, Colorado
17. Madison, Wisconsin
18. Jacksonville, Florida
19. West Palm Beach, Florida
20. Boise, Idaho