Livonia Ranked As Top Home-Buying Market For Millennials
LIVONIA (WWJ) -- Two Michigan communities rank among the "hottest housing markets for millennial home-buyers" in America.
Realtor.com ranks Kentwood -- near Grand Rapids -- third in the nation, while Livonia -- in Metro-Detroit -- is second. According to Realtor.com, Livonia ranks so high on this list because it's the perfect combination of suburban living while also being close to the Motor City.
"Just close enough to metro Detroit for convenience, but with all the benefits of suburban living, Livonia combines the best of both worlds," the report from Realtor.com read. "Downtown Detroit's Institute of Art and professional sports teams are just a half-hour away."
A number of major employers in the area and being ranked as one of the safest cities in the state of Michigan also helped raise Livonia's stock for millennials.
According to the report, the median list price for homes in Livonia is $223,780 and the median household income is $74,320.
The high ranking from Realtor.com comes as no surprise to Dan West, president of Livonia Chamber of Commerce. He said that homes are flying off the market right now in Livonia, proving it's a hot spot in the home-buying community.
"A home in Livonia is on the market for an average of 19 days," West said. "The Metro-Detroit average right now is 33 days. There's this one 45-home subdivision being built -- they just started earlier this year -- and all 45 units have been sold already."
Ypsilanti was the only other Michigan city to crack the list, coming in at 47th nationally.