Michigan’s Population Growth Is Slowing Down, Census Data Shows

January 6, 2020

Michigan’s population growth is slowing down for the first time in years. Data released by the U.S. Census Bureau showed that Michigan’s population grew less than 3,000 residents in 2019, which could cause the state to lose one congressional seat.

Michigan has lost congressional seats to population decline before including one in 1980, 2000, and 2010. After the U.S. census in 1990, Michigan lost two congressional seats. But despite these numbers, Michigan is still doing relatively well in terms of population growth compared to other states.

Other states are also seeing population declines

Despite slower growth in 2019, Michigan’s population has seen larger gains in recent years. In 2018, up to 10,958 new residents moved to Michigan and 22,543 became Michiganders in 2017.

The lag in population growth in 2019 stems from population gains in western and southern states like Arizona and Texas. States like New York and Illinois are seeing significant population drops, too, as Americans move southwest in search of more affordable housing.

Southern and western states such as Texas and Colorado are especially affordable for veterans who can apply for GI Bill benefits like VA home loans online. Home-buying programs like VA home loans are especially important for middle class and lower-income Americans this year what with national housing prices expected to increase this year.

Populations are increasing in the southwest

Migration flows have been moving southwest for the last few years. Currently, the fastest-growing states include Idaho, Utah, Washington, Nevada, Florida, Arizona, Texas, Oregon, Colorado, and the District of Columbia.

“Many jobs are being created in these [Southwestern] counties, but there is also affordable and newer housing, and the quality of schools is generally pretty good relative to urban core counties,” said Lloyd Potter, a Texas state demographer.

While Americans aged 40 and under are largely the ones doing the moving, baby boomers are also heading south. According to a recent survey, up to 25% of baby boomers are moving to be near their grandchildren and 10% live with a grandchild.

Finding affordable housing in Michigan

Fortunately, housing prices in Michigan are still largely affordable despite the state’s housing market heating up. The median home value in the U.S. is $229,600, which is up 4.88% from 2018. The median home price in Michigan in 2019 was $148,775.

Still, there are a few ways you can house hunt smarter. Here are a few ways Michiganders are saving when buying a home:

  • Buying outside the city. Many Americans are moving to the suburbs to avoid high-priced city living. If you’re not sure which neighborhoods are best for your lifestyle, talk to your real estate agent. Up to 78% of recent home buyers said their real estate agent was a useful source of information.
  • Buying fixer-uppers that only need a little fixing. Home renovations are beginning to lose popularity. But you don’t need to flip a house to find a great deal. About 85% of the nation’s houses are in need of some form of improvement and 10% have leaks in their plumbing. Consider investing in a house that needs a little elbow grease instead of a full renovation so you can buy it at a cheaper price without sweating a major project.
  • Trusting your housing inspector. Some homebuyers choose to forego their housing inspection to save money. But 70% of homebuyers say that housing inspections have helped them avoid pricey issues like roof repairs and water damage.

There’s a lot to consider when buying a home, but starting early in the homebuying process can be a game-changer, especially with the Michigan housing market heating up. The more you focus on planning and saving, the easier it’ll be for you to recognize a Michigan home that not only works for your lifestyle but also your budget.

Please follow and like us:
Error, no Ad ID set! Check your syntax!

Leave a Reply

Your email address will not be published. Required fields are marked *