Last updated: October 2024
Michigan, known for its diverse landscapes and Great Lakes shoreline, offers excellent opportunities for mid-term rental investors. From vibrant cities to scenic lakefront destinations, these markets provide strong investment potential.
Our advanced tool, Chalet Intel, delivers in-depth insights and strategies tailored for investors at all levels. It includes a robust calculator, regulation summaries, and extensive data for each discussed market. Our dashboard offers comprehensive data on both short-term and mid-term rentals, enabling you to make well-informed decisions. Links for each market are available for detailed individual analysis.
1. Detroit, Michigan
Detroit, MI, known for its rich automotive history and vibrant cultural scene, is an emerging market for mid-term rentals.
Detroit has seen a notable increase in home values, with the average price now at $150,000. The market shows promise with a median annual revenue of $15,000 and a monthly rate of $1,250. With 500 full-time listings and a property tax rate of 2.00%, the gross yield stands at 10.00%.
To delve deeper into Detroit’s investment potential, check out Chalet Intel.
2. South Haven, Michigan
South Haven, MI, a popular lakeside destination, is known for its beautiful beaches, charming downtown, and vibrant festivals.
South Haven has seen a modest increase in home values by 2.00%, with the average price at $320,023. The market thrives with a median annual revenue of $22,000 and a monthly rate of $2,000. With 173 full-time listings and a property tax rate of 1.41%, the gross yield here is 6.87%.
Discover more about investing in South Haven through the free South Haven Airbnb Investor Guide and South Haven Rental Regulations.
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3. Ann Arbor, Michigan
Ann Arbor, MI, home to the University of Michigan, offers a vibrant college town atmosphere with a rich cultural and academic scene.
Ann Arbor has experienced a notable increase in home values by 6.1%, with the average price now at $481,211. The market shows promise with a median annual revenue of $21,450 and a monthly rate of $1,950. With 332 full-time listings and a property tax rate of 1.63%, the gross yield stands at 4.46%.
To delve deeper into Ann Arbor’s investment potential, check out Chalet Intel.
Each of these markets in Michigan offers unique opportunities for mid-term rental investors, combining strong financial metrics with attractive tourist destinations. For a comprehensive overview, including detailed analyses, calculators, and regulation insights, make sure to explore our latest tool, Chalet Intel.
