Huffington Post:

Grand Rapids, one of The Best Cities For Millennial Homebuyers, According To The National Association Of Realtors

Article/List link on HuffingtonPost.com

Excerpt:

gr_huff
source: Flickr / cncphotos

Median Home Price: $123,000  Job Growth: 4.2 percent

“In your 20s and early 30s, it’s hard not to notice the siren song of real estate. After all, mortgages rates are still at all-time lows and in many markets, buying can be cheaper than renting. You might also have been brought up to consider housing an investment and renting as ‘throwing money away.’

“If this sounds like your experience, then you might want to read up on this latest survey by the National Association of Realtors, who rounded up the hotspots where strong job growth and affordable home prices might persuade you to consider making the jump. According to their report, these are the markets that “are well-positioned to soon experience a rise in first-time buyers as the economy improves.” And, surprisingly enough, of the 100 metro areas that were analyzed (see below for more detail), some of the more popular millennial-based citiesdidn’t make the cut.


Realtor.org

NAR Identifies Best Purchase Markets for Aspiring Millennial Homebuyers

Full Article Link

Excerpt:

nar
source: NAR

“NAR analyzed current housing conditions, job creation and population trends in metropolitan statistical areas1 across the U.S. to determine the best markets for aspiring, leading edge Millennial2 homebuyers. Austin, Texas and Salt Lake City were identified as top standouts for Millennials for having a young adult population with solid job growth rates and still relatively affordable home prices. Seven of the 10 metro areas recognized are in the Midwest and West.

“Lawrence Yun , NAR chief economist, says the homeownership rate for young adults under the age of 35 peaked in 2005 (43 percent) and fell to 36 percent in the first quarter of 20143.

“‘Limited job prospects, student debt and flat wage growth have combined with tight credit conditions and low inventory to price Millennials out of some of the top cities such as New York and San Francisco,” he said. “However, NAR research finds that there are other metro areas Millennials are moving to where job growth is strong and homeownership is more attainable. These markets are well-positioned to soon experience a rise in first-time buyers as the economy improves.’

“NAR analyzed 100 metro areas that have a large Millennial presence, solid local job market conditions and strong migration patterns of young adults moving to that particular area to determine the best purchase prospects for young buyers. Housing affordability and inventory availability were also considered.”


130 Melbourne St NE, Grand Rapids, MI 49505
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Call 616-422-5276
or
visit our website

2 Bed – 1 Bath
Size: 800
$900.00
Cute 2 bedroom 1bath just a short walk down some steps and across the street to Riverside Park! Freshly painted and includes dishwasher, washer and dryer, water/sewer, trash service, lawn care and snow removal.

Rental Features

  • Hardwood floors
  • Refrigerator
  • Dishwasher
  • Carport
  • Laundry room / hookups
  • Oven / range
  • Heat – gas


Lease Terms
$900.00 security deposit
Month to Month rental agreement $900 tenant to pay gas and electric only (water, trash, lawn and snow included in rent)
$150 nonrefundable cleaning fee
Pets accepted on a case by case basis minimum $25 pet rent and $100 nonrefundable pet cleaning fee.

Possible discounts for lawn care and snow removal.


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543 Wealthy St SE – 1, Grand Rapids, MI 49503
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Call 616-293-5731
or
visit our website

2 Bed – 1 Bath
Size: 1100
Year built: 1905
$825.00

Rental Description
Wealthy Bakery & bus line out the front door, paint is fresh, oak floors, large rooms, full basement with free laundry, off street parking, will allow a dog. Rent $850/mo. Home is on a lot and a half. Pets must be approved. Email Pete: thehill{at}grar.comHome has been repainted inside since photos.
Two Bedroom – 543 Wealthy SE, #1fl

Amenities:
– Parking
– Unfurnished
– Transportation Service Available
– Smoke Free
– Basement

Appliances:
– Range
– Refrigerator
– Oven
– Washer & Dryer

LeaseLengths:
– 12 Months lease

Pets:
– Dogs Allowed

Utilities:
– Water Included
– Resident Pays Electricity
– Resident Pays Gas
– Resident Pays Heat
– Resident Pays Trash Pick-up
– High-Speed Internet Available

Contact Pete: thehill{at}grar{dot}com for more information


Property Features
  • Laundry room
  • Parking

Lease Terms
$825.00 security deposit
12 months, tenant pays gas, electric, snow shoveling.


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1345 Sherman St SE, Grand Rapids, MI 49506
lp shermanCall 616-422-5276
or
visit our website
3 Bed – 2 Bath
Size: 1400
$1,325.00

Rental Description
Beautiful 3 bedroom 2 Bath home in the East town area. Hardwood floors throughout. Lots of charm and large windows. The top floor could be used as a home office, play room or additional bedroom. Large fenced backyard, including a separate fenced in dog pen. Alley way access to a 2 stall garage. Lawn care and snow removal included. $1325 per month $1325 security deposit $200 non-refundable cleaning fee. PETS OK.

Rental Features
  • Hardwood floors
  • Garage parking
  • Fenced yard

 


Lease Terms
$1,325.00 security deposit
1 year lease
$1325 per month
$1325 security deposit
$200 non refundable cleaning fee


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1538 Walnut St NE, Grand Rapids, MI 49503
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Call 616-422-5276
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2 Bed – 1 Bath
Size: 840
$925.00

Rental Description
Nice 2 bedroom, 1 bath home. Features large screened in front porch with new paint, carpet and tile throughout the home. Home also includes laundry in the unfinished basement. Outside you will find a storage shed located in the very quiet private back yard.

ABSOLUTELY NO PETS ALLOWED.


You may schedule a showing for this House online:
Available showing appointments


Rental Features

  • Refrigerator
  • Garage parking
  • Fenced yard
  • Oven / range


Lease Terms
$1,350.00 security deposit
12 month lease
Minimum Monthly Income Required $3250

$925 1st month’s rent plus $1,350 deposit to move in for a total of $2,275.

ABSOLUTELY NO PETS

*There is a garage on the property but it is not available for tenant usage.


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636 Innes St NE, Grand Rapids, MI 49503
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Call 616-422-5276
or
visit our website

2 Bed – 1 Bath
Size: 1100
$1,050.00

Rental Description
Updated two bedroom one bath single family home in Mid town. Easy access to Medical Mile, East town and Highways. Just blocks from Martha’ Vineyard and Nantucket Bakery. Features Hardwood floors, nice back deck, driveway and washer and dryer in a large unfinished basement. Includes lawn care, snow removal, trash and water $1050 per month. $1050 Security Deposit. $200 non-refundable cleaning fee. Pets ok.
Set up a showing today!

You may schedule a showing for this House online:
Available showing appointments


Rental Features

  • Hardwood floors
  • Balcony, deck, patio
  • Laundry room / hookups


Lease Terms
$1,050.00 security deposit
$1,050.00 security deposit
$200 non-refundable cleaning fee.
12 month lease
Pets Ok

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