Grand Rapids Housing Trend Shifts Toward Rentals
GRAND RAPIDS, Mich.- Real Estate sales in the Grand Rapids area are up nearly 40 percent in the last three years, thanks in part to a new trend of renting that some real estate agents say is changing the game.
There are major housing developments popping up all over downtown Grand Rapids and apartments are being rented before they’re even built.
Realtor Jared Behrens says there are floods of people who are coming in wanting to live in downtown Grand Rapids.
“Investors are coming in and making sure these properties are gorgeous, every property these investors are doing…they’re throwing them up with granite countertops and hardwood floors and just making them look beautiful and it’s really kind of transforming downtown,” Behrens said.
Behrens says after the recession people got scared about taking on new mortgages. He says that’s fueled the new rental community and rental market trends we’re seeing now.
Behrens says if you want to live downtown start looking early, and act quickly.