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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 $246,477, lower than the Minnesota average of $345,793.
The average cost of rent is $1,023/mo in Grand Rapids, primarily driven by the current value of real estate in the Grand Rapids area. In Grand Rapids, 26.58% of households rent, and 42.68% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Grand Rapids is $5,809 per month. Households that rent pay about 17.62% of their income on rent here. Grand Rapids’s most expensive areas are in the southwestern 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
- La Prairie, MN: equally priced homes
- Coleraine, MN: less expensive homes
- Cohasset, MN: higher priced homes
- Bovey, MN: less expensive homes
- Taconite, MN: less expensive homes
- Marble, MN: less expensive homes
- Warba, MN: equally priced homes
- Calumet, MN: less expensive homes
- Zemple, MN: less expensive homes
- Hill City, MN: less expensive homes
Cities with Similar Populations
- Clewiston, FL: less expensive homes
- Tuckerton, NJ: higher priced homes
- Trinity, NC: less expensive homes
- Trenton, OH: equally priced homes
- Tobyhanna, PA: less expensive homes
- Sunny Vista, CA: higher priced homes
- Summerfield, NC: higher priced homes
- Sterling, CO: higher priced homes
- Russellville, AL: less expensive homes
- Riverton, WY: equally priced homes
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