Grand Rapids, MI housing market
Typical home value
$304K
▲ 3.3% 1 yr
Typical rent
$1,602/mo
▲ 4.3% 1 yr
Gross rent yield
6.3%
U.S. 6.3%
5-year home value change
+27%
U.S. +20%
Key takeaways
- 1The typical home in Grand Rapids is worth $303,937, up 3.3% over the past year and up 27% over five years.
- 2Typical rent is $1,602 a month (+4.3% YoY), a gross rent yield of 6.3% (above the Grand Rapids, MI metro's 5.4%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,670/mo, $68 more than typical rent.
- 4Zillow forecasts the Grand Rapids, MI metro's home values to change +3.3% over the next 12 months.
Market temperature (Grand Rapids, MI metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 43/100, #226 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Grand Rapids compares
| Measure | Grand Rapids | Grand Rapids, MI metro | United States |
|---|---|---|---|
| Typical home value | $303,937 | $355,636 | $366,157 |
| Home value, 1-yr change | +3.3% | +4.9% | +1.2% |
| Typical rent | $1,602 | $1,614 | $1,932 |
| Rent, 1-yr change | +4.3% | +4.3% | +2.7% |
| Gross rent yield | 6.3% | 5.4% | 6.3% |
| Price-to-rent ratio | 15.8 | 18.4 | 15.8 |
| Mortgage P&I, typical home | $1,670 | $1,954 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Grand Rapids rental, pre-filled.
Rent vs buy in Grand Rapids
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $304K home.
Landlord in Michigan? See Michigan deposit, late fee and notice rules.
Other cities in the Grand Rapids, MI metro
Holland, MI
$371K home$1,618 rent
▲ 4.4% 1 yr
Wyoming, MI
$291K home$1,555 rent
▲ 3.7% 1 yr
Kentwood, MI
$332K home$1,565 rent
▲ 3.9% 1 yr
Grand Haven, MI
$399K home$1,690 rent
▲ 4.4% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.