Suppose real estate is the most significant investment a majority of people make in their lifetime. In that case, it’s best to understand the places in Michigan with best potential return on investment.
After working in real estate adjacent roles for over a decade, I had the hypothesis that the best place to buy for a return on investment would be up-and-coming cities. Smaller cities where crime might be high now, but people still move to.
To test my hypothesis, we are going to look at places in Michigan that are growing faster than average, but where home prices are below average, and crime rates are higher than average.
In everyday terms, these might be “deals”. The best deal in Michigan at the moment according to Saturday Night Science? That would be Dundee.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Best Places To Buy A Home In Michigan For 2024
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
For more Michigan reading:
- Best Counties To Live In Michigan
- Best Places To Raise A Family In Michigan
- Best Places To Retire In Michigan
The 10 Best Cities To Buy A House In Michigan For 2024
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Population: 5,408
Median Home Price: $261,298
Population Change: 3.0%
Home Price Change: 5.1%
More on Dundee: Data | Real Estate
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Population: 6,200
Median Home Price: $280,596
Population Change: 2.7%
Home Price Change: 2.8%
More on New Haven: Data | Real Estate
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6. Kingsford
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Population: 5,127
Median Home Price: $132,625
Population Change: -0.6%
Home Price Change: 11.5%
More on Kingsford: Real Estate
/10
Population: 5,180
Median Home Price: $235,225
Population Change: 0.3%
Home Price Change: 3.5%
More on Allegan: Data | Crime | Cost Of Living | Real Estate
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Population: 5,195
Median Home Price: $247,172
Population Change: 0.1%
Home Price Change: 3.5%
More on Utica: Data | Crime | Cost Of Living | Real Estate
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Population: 5,621
Median Home Price: $421,780
Population Change: 0.4%
Home Price Change: 3.6%
More on Grosse Pointe: Data | Crime | Cost Of Living | Real Estate
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Population: 5,268
Median Home Price: $372,983
Population Change: 0.0%
Home Price Change: 0.7%
More on Springfield: Data | Cost Of Living | Real Estate
Methodology: How do you determine the best places to buy a home in Michigan for 2024?
We were in real estate for almost five years and have worked on this site for another 9. Suffice it to say we’ve put a lot of thought into finding an excellent place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in Michigan. Put differently, the analysis will try to find places in Michigan with undervalued homes relative to pent-up demand using Saturday Night Science.
To do that, we looked at the most recent American Community Survey Census data for 2018-2022 and compared it to the previous vintage. Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still “cheap” for Michigan with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that, and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in Michigan, only 154 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 154 for the above criteria, with 1 being the best. We averaged the rankings to create a “best place to buy” index, with the place having the lowest index being the best.
Turns out that Dundee is the best potential gem in the not-so-rough in the Wolverine State.
Summary: The Best Places To Purchase A House In Michigan for 2024
There’s our analysis of the best places to buy a house in Michigan. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
The best cities to buy a house in Michigan are Dundee, Gladstone, New Haven, Davison, Ironwood, Kingsford, Allegan, Utica, Grosse Pointe, and Springfield.
So if we’d could rent or buy in these cities, we’d definitely buy.
For more Michigan reading, check out:
Best Places To Buy A Home In Michigan
| Rank | City | Population | Median Home Price | Population Change | Home Price Increase |
|---|---|---|---|---|---|
| 1 | Dundee | 5,408 | $261,298 | 3.0% | 5.1% |
| 2 | Gladstone | 5,231 | $162,888 | 0.4% | 8.1% |
| 3 | New Haven | 6,200 | $280,596 | 2.7% | 2.8% |
| 4 | Davison | 5,114 | $231,702 | 0.2% | 3.4% |
| 5 | Ironwood | 5,088 | $88,927 | -1.1% | 1.3% |
| 6 | Kingsford | 5,127 | $132,625 | -0.6% | 11.5% |
| 7 | Allegan | 5,180 | $235,225 | 0.3% | 3.5% |
| 8 | Utica | 5,195 | $247,172 | 0.1% | 3.5% |
| 9 | Grosse Pointe | 5,621 | $421,780 | 0.4% | 3.6% |
| 10 | Springfield | 5,268 | $372,983 | 0.0% | 0.7% |
| 11 | Eaton Rapids | 5,201 | $231,272 | -0.2% | 3.0% |
| 12 | St. Clair | 5,496 | $283,763 | 0.1% | 0.4% |
| 13 | Chelsea | 5,440 | $364,698 | -0.1% | 5.3% |
| 14 | Frankenmuth | 5,064 | $296,452 | 0.4% | 0.7% |
| 15 | Swartz Creek | 5,865 | $218,680 | 0.4% | 2.6% |
| 16 | Zeeland | 5,701 | $336,250 | 0.0% | 3.9% |
| 17 | Dowagiac | 5,680 | $200,572 | -0.9% | 2.9% |
| 18 | Petoskey | 5,859 | $393,626 | 0.1% | -0.5% |
| 19 | Belding | 5,942 | $215,547 | -2.1% | 3.6% |
| 20 | Richmond | 5,852 | $276,790 | -0.3% | 0.6% |
| 21 | Northville | 6,088 | $514,916 | -0.3% | 3.5% |
| 22 | Milan | 6,153 | $251,182 | -0.0% | 3.9% |
| 23 | Manistee | 6,248 | $227,978 | 0.3% | 0.7% |
| 24 | Holly | 5,997 | $286,258 | -0.6% | 1.6% |
| 25 | Huntington Woods | 6,365 | $459,699 | -0.3% | 3.8% |
| 26 | Rockford | 6,144 | $386,671 | 0.2% | 2.6% |
| 27 | Ishpeming | 6,191 | $155,185 | -0.5% | 4.6% |
| 28 | Milford | 6,483 | $425,893 | -0.4% | 2.2% |
| 29 | Marshall | 6,806 | $220,197 | -0.4% | 3.1% |
| 30 | Walled Lake | 7,262 | $229,099 | -0.0% | 4.0% |
| 31 | St. Louis | 6,932 | $139,183 | -6.8% | 2.4% |
| 32 | Hastings | 7,504 | $198,616 | 0.3% | 4.2% |
| 33 | Iron Mountain | 7,522 | $138,100 | 0.1% | 8.3% |
| 34 | Hudsonville | 7,633 | $367,928 | 0.5% | 1.8% |
| 35 | River Rouge | 7,200 | $62,263 | -0.8% | -3.6% |
| 36 | Three Rivers | 7,923 | $199,425 | -0.3% | 2.2% |
| 37 | Brighton | 7,486 | $396,691 | 0.3% | 4.0% |
| 38 | Houghton | 8,303 | $209,785 | 8.2% | 0.2% |
| 39 | Grand Ledge | 7,795 | $272,097 | 0.0% | 3.4% |
| 40 | Grand Blanc | 8,034 | $262,470 | -0.3% | 2.8% |
| 41 | Flushing | 8,349 | $216,845 | -0.1% | 2.4% |
| 42 | St. Johns | 7,711 | $245,248 | 0.1% | 1.8% |
| 43 | Hillsdale | 8,005 | $183,760 | -2.3% | -0.2% |
| 44 | Menominee | 8,429 | $151,178 | -0.2% | 12.9% |
| 45 | Ludington | 7,691 | $263,304 | -0.5% | 0.7% |
| 46 | Center Line | 8,493 | $158,320 | -0.3% | 6.4% |
| 47 | St. Joseph | 7,852 | $300,114 | -0.2% | 5.7% |
| 48 | Tecumseh | 8,678 | $228,128 | 0.4% | 2.7% |
| 49 | Albion | 7,732 | $119,538 | -4.1% | 4.2% |
| 50 | Greenville | 8,866 | $227,857 | -2.1% | 3.1% |
| 51 | Mason | 8,284 | $247,725 | -0.3% | 3.3% |
| 52 | Lapeer | 9,034 | $246,318 | 1.4% | 4.5% |
| 53 | Alma | 9,436 | $139,255 | 0.1% | 2.2% |
| 54 | Charlotte | 9,273 | $217,499 | 0.5% | 3.6% |
| 55 | Grosse Pointe Farms | 10,018 | $446,876 | 0.0% | 4.9% |
| 56 | Plymouth | 9,300 | $417,416 | -0.1% | 3.7% |
| 57 | Saline | 8,973 | $423,142 | -1.1% | 2.6% |
| 58 | Ecorse | 9,292 | $69,697 | -0.4% | 6.8% |
| 59 | Howell | 10,067 | $348,579 | 0.4% | 3.4% |
| 60 | Marysville | 9,973 | $212,826 | 0.5% | 4.1% |
| 61 | Benton Harbor | 9,101 | $112,898 | -0.8% | -5.0% |
| 62 | Flat Rock | 10,448 | $237,743 | 0.1% | 5.0% |
| 63 | Alpena | 10,200 | $157,639 | 0.2% | 5.3% |
| 64 | Melvindale | 12,639 | $127,178 | 0.8% | 4.7% |
| 65 | Big Rapids | 7,915 | $191,904 | -13.1% | 3.3% |
| 66 | Beverly Hills | 10,550 | $498,630 | -0.4% | 3.2% |
| 67 | Cadillac | 10,400 | $173,364 | 0.8% | 5.5% |
| 68 | Farmington | 11,486 | $290,249 | 0.0% | 3.9% |
| 69 | Muskegon Heights | 9,954 | $65,905 | -1.0% | -3.7% |
| 70 | Highland Park | 9,032 | $67,728 | -2.9% | 7.7% |
| 71 | Sturgis | 11,050 | $190,122 | -0.2% | 1.7% |
| 72 | Grand Haven | 10,961 | $342,638 | 0.2% | 1.3% |
| 73 | Grosse Pointe Park | 11,513 | $451,199 | -0.1% | 4.2% |
| 74 | Niles | 11,871 | $181,757 | -0.5% | 4.0% |
| 75 | Ionia | 13,081 | $188,448 | 12.2% | 3.9% |
| 76 | Fenton | 11,967 | $330,634 | 0.2% | 2.5% |
| 77 | South Lyon | 11,788 | $434,616 | 0.0% | 2.8% |
| 78 | East Grand Rapids | 11,385 | $572,507 | 0.0% | 5.6% |
| 79 | Clawson | 11,388 | $261,691 | -0.8% | 3.9% |
| 80 | Riverview | 12,390 | $219,074 | -0.6% | 2.8% |
| 81 | Escanaba | 12,403 | $148,191 | -0.3% | 9.6% |
| 82 | Coldwater | 13,704 | $194,078 | -0.4% | 3.9% |
| 83 | New Baltimore | 12,104 | $325,237 | -0.4% | 5.1% |
| 84 | Woodhaven | 12,867 | $242,087 | -0.2% | 3.7% |
| 85 | Rochester | 12,978 | $428,006 | -0.5% | 3.6% |
| 86 | Sault Ste. Marie | 13,409 | $133,384 | -0.8% | -2.6% |
| 87 | Harper Woods | 15,296 | $146,667 | 0.1% | 1.4% |
| 88 | Wixom | 17,007 | $348,240 | 0.9% | 3.4% |
| 89 | Owosso | 14,678 | $159,765 | -0.2% | 8.3% |
| 90 | Fraser | 14,668 | $217,570 | -0.2% | 5.3% |
| 91 | Berkley | 15,150 | $285,101 | -0.6% | 3.9% |
| 92 | Grosse Pointe Woods | 16,338 | $315,509 | -0.1% | 4.2% |
| 93 | Traverse City | 15,468 | $412,868 | 1.3% | 7.4% |
| 94 | Grandville | 16,017 | $332,792 | -0.2% | 3.8% |
| 95 | Mount Clemens | 15,679 | $156,898 | -0.4% | 1.1% |
| 96 | Hazel Park | 15,065 | $154,739 | -1.0% | 6.6% |
| 97 | Wayne | 17,568 | $153,609 | -0.3% | 6.7% |
| 98 | Trenton | 18,420 | $215,391 | -0.4% | 4.6% |
| 99 | Monroe | 20,400 | $200,178 | 0.3% | 4.2% |
| 100 | Ferndale | 19,264 | $236,307 | -0.8% | 3.3% |