Throughout the last decade the unemployment rate has been watched and compared in the United States. One of the best ways to measure unemployment is by analyzing the many up and coming metro areas and their markets. In just one year’s time, twice as many metro areas have unemployment rates below 3%. Low unemployment combined with a boom in hiring and new jobs has led many metro areas to become highly sought after housing markets!
Here, in the City of Grand Rapids, the unemployment rate is 2.8%. This is due to a combination of various industries moving into the city, the expansion of existing businesses, and West Michigan’s tourism. The low unemployment rate is also creating a resurgence in the Grand Rapids housing market with the average home price around $154,000. From first time home buyers to seasoned purchasers and property investors, the Grand Rapids area will provide not only a great opportunity to own and invest but also a chance to enjoy a greater quality of life.
For more information check out the Wall Street’s Journal’s Blog “The Growing Set of Metro Areas with Unemployment Under 3%”