The real estate market in Ann Arbor MI is as diverse as the area surrounding it. The city has a median home sale price of $214,000, which is only slightly less than the national average. The area contains a mix of modern residential developments, and a few older homes located near the state university. Architecturally, the area boasts a mix of Traditional, Contemporary, Colonial, and Ranch style homes.
As the sixth largest city in the state and the home of the University of Michigan, Ann Arbor has a variety of unique neighborhoods and districts. Most of the neighborhoods are residential, and the city’s suburbs are famous for their beautiful natural surroundings and parks. As with most large cities, Ann Arbor’s Downtown District is the city’s commercial, entertainment, and financial center. The area near the University of Michigan contains primarily houses and apartment buildings that have been rented out to students. Farther south, the city’s two business districts are home to Ann Arbor’s largest shopping complex and a large industrial area that is famous for its wealth of ecologically-friendly small businesses.
By far, Ann Arbor’s largest employer is the University of Michigan. The university employs nearly 30,000 workers from the surrounding area. The area is also home to a variety of thriving high-tech companies that are fed by the city’s highly educated population. Companies such as JSTOR, Arbor Networks, Truven Health Analytics, and Barracuda Networks employ a significant portion of the local population. These companies are currently listed as some of the largest technologically-based companies in the country. A few residents are employed in the city’s automobile manufacturing centers, and the Japanese automaker, Toyota, currently has a small branch in the city. Domino’s Pizza is also one of the largest employers in the area, largely because of Ann Arbor’s enormous student population, and the chain is headquartered in the city itself. Ann Arbor is also home to numerous eco-friendly startups, and the city is currently ranked as one of the most environmentally conscious towns in America.