Forbes has named Grand Rapids, Michigan as the 11th best city for real estate investment in 2014. The city selections were ranked mostly based on home prices, populations and the local jobs economy. In a survey completed for a Forbes.com article entitled “Best Buy Cities”, the average home sale price for a Grand Rapids home is $138,596. This price is 25 percent below the equilibrium price of $184,794, which is considered what the average price for the market should be under normal circumstances (without local income distortions, factors such as the housing collapse, etc.). When home prices are significantly below the equilibrium price, investors are receiving an excellent price and can expect a good return. This is especially true for Grand Rapids as the growth forecast for the area over the next three years is expected to be at 27 percent.

A healthy local economy is a huge consideration for investors. Karla Huitsing, the President-Elect 2013 at Grand Rapids Association of Realtors, anticipates that the area’s housing prices will continue to increase during 2014 due to a high demand for housing in a market with low inventory levels.