As quoted by MLive.com, the survey results noted that January 2016 saw the median price of Grand Rapids homes hit $154,348. While representing 8% growth over last year’s numbers, though, this price is still hovering around 22% below the national average.
Accompanying this spike are the latest figures released by the state government, showing that unemployment went down to a record low of 2.8% in 2015. The area’s economy has also grown by 3.9% in the same period.
Due to these developments, Grand Rapids has been described by the Forbes survey as the best place to buy a home throughout the United States.
Orlando came in second place in the rankings, while seven more out of the top 20 markets were in Florida.
Results from a recent Forbes.com study revealed that home prices in Grand Rapids, Michigan have grown by 33% in the past three years in response to a robust economy and strong per-capita purchasing power.