Cadillac, MI

Cadillac, Michigan is a city located in the U.S. state of Michigan. As of the 2010 census, the city had a population of 36,819. The city is situated on the eastern shore of Lake St. Clair and is bordered by Port Huron to the north and east, Sterling Heights to the south and west, and Auburn Hills to the northwest. Cadillac is part of Metro Detroit area which has a population of over 5 million people.

Real estate in Cadillac has seen strong growth in recent years as home prices have increased significantly relative to other areas within Metro Detroit. In fact, according to Zillow’s Home Value Index for ZIP codes within 50 miles of Cadillac (zip code 48220), home values have grown an average of 9% from 2013-2017 while prices in surrounding ZIP codes have only grown by an average of 2%. This strong demand has driven up median home prices in Cadillac from $130,000 in 2013 to $160,000 as of 2017 – a growth rate that outpaces even some more affluent suburbs within Metro Detroit!

One reason for this sustained demand may be that Cadillac offers many amenities not typically found in more suburban areas – including excellent schools ( Cadillac Elementary School was recently ranked #1 out of 774 schools across Michigan), a vibrant downtown with plenty of restaurants and shops, and easy access to both public transportation and major highways (I-75 runs just north of town). Additionally, because it is located on Lake St Clair rather than on one or two large bodies of water like most other cities on the Great Lakes coastline (e.g., Cleveland or Rochester), there are many opportunities for waterfront property development – something that seems especially appealing given current trends towards urban living and away from traditional suburban neighborhoods.

Despite these positive factors, there are also some potential challenges facing real estate development in Cadillac – chief among them being limited land availability due to its proximity to other major metropolitan areas as well as restrictions imposed by local government regulations designed to protect natural resources (e.g., wetlands). In addition, although unemployment rates have been relatively low throughout much of Metro Detroit over recent years (4% as compared with 6% statewide), they are higher than average (~5%) in Cadillac due partly to its proximity to Port Huron which has been experiencing significant job growth thanks largely to automotive manufacturing operations at Ford’s Flat Rock plant). Finally, although housing costs are high relative to most parts of Michigan (~15% above statewide averages), they are still considerably lower than those found closer into Metro Detroit or even outside the region altogether (Zillow estimates median house values near Lansing at $214K versus $260K near Detroit). Taken together these various factors suggest that real estate development will continue apace in Cadillac – though it will likely remain somewhat constrained by available land resources and competition from nearby communities