Three of the five top real estate deals in 2011 were in Ann Arbor... and fueled by the student rental market. SE Michigan has long lagged behind other metro areas when it comes to rental options - particularly in downtown settings. But it look like the market is slowly changing.
Excerpt:
"The vacancy rate for apartments in Ann Arbor was 3.6 percent at the end of the third quarter, according to information from Washington, D.C.-based REIS Inc.; compared with 5.4 percent for the region.
That trend follows other sectors of real estate in metro Detroit. Ann Arbor enjoys a vacancy rate that is much lower than in other parts of the region. "
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