Grand Rapids
Michigan · Ranked #36 of 102 metros
55Moderate
Median Home Price
🏠$300K
Need $86K income
Median Rent
🔑$1K
Need $48K income
Housing Shortage
📉15,000
units needed
Building Permits
🔨6,000
annual
Median Income
💰$62K
Pop: 1,077,370
Rent Burden
⚠️30.0%
of renters paying >30%
Price Change (YoY)
📈+5.5%
Homeownership
🏡69.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Grand Rapids | National |
|---|---|---|
| Price-to-Income Ratio | 4.8x | 6.1x |
| Rent Burden | 30.0% | 31.5% |
| Homeownership Rate | 69.0% | 65.5% |
| YoY Price Change | +5.5% | +3.5% |
| YoY Rent Change | +4% | +2.8% |
| Mortgage Denial Rate | 12.5% | 13.5% |
| Eviction Rate | 4.5% | 3.6% |