Vanderbilt, MI

Vanderbilt is a city located in the U.S. state of Michigan. As of the 2010 census, the city had a population of 25,868. The city is situated on the southern shore of Lake Michigan and is about 20 miles east-southeast of Detroit. Vanderbilt was founded in 1836 and incorporated as a village in 1852. It became a city in 1865 and was named for Cornelius Vanderbilt, one of America's richest men who donated money to help build the railroad that passed through the area.

Today, Vanderbilt is an important commercial center with a diversified economy based on health care, manufacturing, education and tourism. The city has experienced significant growth over the past several decades due to its excellent location and strong economic base. According to City-Data.com, median household income in 2009 was $87,611 which ranked third highest among cities with more than 25,000 residents in Michigan (after Ann Arbor and Dearborn). Additionally, according to Forbes magazine's 2009 list of America's Best Small Cities for Businesses (based on factors such as job growth rate, cost of living index and percentage of businesses owned by women), Vanderbilt ranked first out of 102 small cities nationwide!

Real estate in Vanderbilt is highly sought after due to its excellent location and strong economy. In recent years there has been significant growth both residential and commercial real estate markets within the city limits. According to recent reports from The Real Estate Board Of Greater Detroit (REBGV), overall sales activity within Metro Detroit increased by 5% from January through March 2011 when compared to same period last year; however sales activity within Wayne County increased by 10%. This indicates that while many other areas are seeing slower or declining sales activity; Metro Detroit continues to be one of the strongest real estate markets in North America! Sales activity within all sectors including single family homes (up 9%), condos/townhomes (up 12%) apartments (up 8%) mixed use properties including office space (up 11%) retail space (up 7%) have all seen increases during this time period!

Given these positive trends it should come as no surprise that prices for residential property have continued to rise throughout 2011; however prices for commercial property have also seen significant increases! According to REBGV data released earlier this year; average asking prices for Class A office space increased by 16%, while average asking prices for industrial properties increased by 24%. These price increases reflect not only market demand but also increasing confidence among investors regarding future prospects for both residential and commercial real estate markets within Metro Detroit!