Michigan Has the No. 2 Best City for Real Estate Investment in America (2024)

If you’re looking to invest in the real estate market, Michigan is actually the perfect spot to do so, according to a new study. In fact, Michigan has the second best city for real estate investment in the entire U.S. How’s that for bragging rights?

Policygenius, an online insurance marketplace, has put together a list of the top places real estate investors should seek because of their great climates for investors. To put together the study, they used information from Zillow and the U.S. Census Bureau to analyze the top-600 metropolitan areas using six metrics to determine the most attractive cities to invest in. Categories included home value, home value appreciation, effective property tax rate, rent to home value ratio, rental vacancy rate and rent to income ratio.

So, what Michigan city is on top? Detroit, Michigan, was ranked the No. 2 best city for real estate investment in the whole country. It was only behind Youngstown, Ohio, on the list.

Detroit has a population of just under 640,000 inhabitants and a metro area that is home to approximately 4.3 million people, according to the report. Other attractive aspects of Detroit is that it’s home to the “Big Three” American auto companies, plus Quicken Loans, Ally Financial and DTE Energy. According to the report, Detroit offers low home prices and very high home value appreciation, which make it a no-brainer for getting in on the ground floor of this exciting American success story.” For the full list, go here.

We Love Michigan in the Winter:

• Hot chocolate: Whether you like your hot chocolate with marshmallows or whipped cream (Marshmallows for me!), winter in Michigan is the perfect time to enjoy a nice, piping hot cup of hot cocoa. If that’s not your thing, coffee works, too!

  (Photo by Giorgio Perottino/Getty Images)

• Winter fun with friends: Sure, the southern U.S. states avoid freezing cold temperatures, but what’s the fun of a fire pit in 70-degree weather? When it’s cold out, fire up the fire pit and invite friends over for a special experience.

  (Photo by Joe Raedle/Getty Images)

• Watching wildlife: Michigan has some beautiful wildlife in the spring and summer months, but the state also offers a plethora of winter wildlife that’s fun to watch, from birds to deer.

  (Photo by Phil Cole/Getty Images)

• Skiing, sledding and winter activities: As mentioned in the snow section of this post, if you love now, skiing and sledding, then Michigan is a great state to be in the winter. With so much of the white stuff, Michigan offers boundless opportunities to sled and ski all winter long.

  (Photo by Keystone/Hulton Archive/Getty Images)

  See Also

  Expert calls Detroit housing, rental market ‘kind of wacky right now’

• Upper Peninsula fun: Plenty of people visit the Upper Peninsula during the warm months, but winter is also a great time to visit. You don’t have to fight the crowds, plus winter is extra beautiful Up North, thanks to all the fresh snow.

  (Photo by Hugh Pinney/Getty Images)

• Watching winter sports: Can we say, “Hockey?!” Michiganders love their Michigan sports, and hockey is right up there. Let’s hope the Red Wings deliver this season.

  (Photo by Claus Andersen/Getty Images)

• Winter hiking: You never know what you’ll find during a Michigan winter hike. Perhaps some deer or a beautiful snow bank?

  (Photo by Christopher Furlong/Getty Images)

• Snow: If you’re someone who loves snow, then boy, you’re in the right place. Michigan is full of the cold stuff in the winter. Snow can be beautiful and lends itself to plenty of fun winter activities.

  (Photo by Milos Bicanski/Getty Images)

Anne Erickson's love for music drew her into radio. She started on the airwaves shortly after graduating from MSU. Anne has a passion for rock and metal, and she also fronts the band Upon Wings. Email Anne at erickson@WRIF.com, follow her on Instagram at @EricksonAnne and tweet at her @AnneErickson! Anne covers the Detroit, Philadelphia and Las Vegas markets and beyond.