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These days, finding an affordable place to live in the Grand Rapids area can be challenging. Home prices in Grand Rapids are now at a median cost of $295,462, higher than the Michigan average of $250,415.
The average cost of rent is $1,285/mo in Grand Rapids, primarily driven by the current value of real estate in the Grand Rapids area. In Grand Rapids, 25.39% of households rent, and 39.00% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Grand Rapids is $7,519 per month. Households that rent pay about 17.10% of their income on rent here. Grand Rapids’s most expensive areas are in the northern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- East Grand Rapids, MI: higher priced homes
- Wyoming, MI: less expensive homes
- Walker, MI: equally priced homes
- Kentwood, MI: less expensive homes
- Northview, MI: higher priced homes
- Comstock Park, MI: equally priced homes
- Grandville, MI: higher priced homes
- Forest Hills, MI: higher priced homes
- Cutlerville, MI: less expensive homes
- Alpine, MI: equally priced homes
Cities with Similar Populations
- McAllen, TX: less expensive homes
- Land O' Lakes, FL: higher priced homes
- Layton, UT: higher priced homes
- Lake Charles, LA: equally priced homes
- Lewisville, TX: higher priced homes
- Lake Worth, FL: higher priced homes
- Knoxville, TN: equally priced homes
- Lees Summit, MO: higher priced homes
- Lehigh Acres, FL: equally priced homes
- Lexington, KY: equally priced homes
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