The article says that the trend is clear and "People are moving to areas with strong economies that still have affordable rent and housing prices. In the states where rents are rising the fastest year-over-year, the median rent is still relatively low compared to the national median."
Michigan has not seen the overbuilding that other states have and also has a lot more demand for rentals. Furthermore, Michigan offers a more affordable cost of living that more and more renters are seeking during this time of sky-high inflation and interest rates.
Article written by Lindsay Frankel.
Click here to read the full article on BiggerPockets.com.