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Michigan’s Rental Aid is Backlogged as Need Continues Rise
/in Detroit, Grand Rapids, Northern Michigan, SE Michigan, Western Michigan /by Tracy Willis173,000 tenants have applied for the statewide rent aid program that was launched to help renters avoid eviction and meet their payments. Wayne County makes up about one-third of the applicants. Detroiters make up 22% of the rent help applicants. According to the chief operating officer of the Wayne Metropolitan Community Action Agency, they continue to see high numbers of requests for support. The Census Bureau’s Household Pulse Survey reports that between Dec. 1 and Dec. 13, more than 100,000 Michiganders said they were behind on rent or mortgage payments. Less than half of the applications for assistance were approved as of January 7. Statewide, wait time between application and approval averages 35 to 40 days. In Wayne County, that wait time may take as long as 10 weeks. MSHDA has hired staff combat the backlog and high numbers of applications in Wayne County
Details Revealed For Detroit Affordable Housing Plan
/in Detroit /by Tracy WillisPlans for a new 83-unit apartment building near the Masonic Temple and Little Caesars Arena were shared with the public during a virtual community meeting. 3rd & Charlotte, the name of the development, is a joint project between developer Stephen Ross’ Related Cos. and the development firm The Platform. The apartments would be leased at below-market rents to tenants making 60% of area median incomes. To go forward, the project must be awarded Low-Income Housing Tax Credits from the Michigan State Housing Development Authority. If developers can meet the requirements, construction could begin in the 4th quarter of 2022.
Residential Sale Prices Continue Upward Trend
/in Detroit, Grand Rapids, Northern Michigan, SE Michigan, Western Michigan /by Tracy WillisProspective buyers in Michigan’s housing market placed higher bids in 2021. A lack of inventory caused a 13.8% increase in residential sale prices in 2021 compared to the same period in 2020. There was a 3% increase in total sales. Branch County, Detroit, Bay County, Sanilac County and Mason, Oceana and Manistee counties reported higher than 20% increases in housing prices. Gratiot, Isabella, St. Joseph, Greater Shiawassee and Hillsdale counties reported less than 7% housing price increases. Antrim, Charlevoix and Kalkaska were the only to counties to report a decrease in home prices (-0.7%).