Grand Rapids housing market
Typical home value
$356K
▲ 4.9% 1 yr
Typical rent
$1,614/mo
▲ 4.3% 1 yr
12-month forecast
+3.3%
#106 of 546 metros
Gross rent yield
5.4%
#349 of 546 · U.S. 6.3%
Days to pending
25 days
■ 0 days 1 yr
Listings with a price cut
31%
▲ +2.5 pts 1 yr
Key takeaways
- 1The typical home is worth $355,636, up 4.9% in a year and up 30% over five years.
- 2Zillow forecasts home values rising 3.3% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,614/mo (+4.3% YoY), a 5.4% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,954/mo in principal and interest, $340 more than renting.
- 5Homes go under contract in 25 days (0 days vs last year); 31% of listings have had a price cut.
Market temperature
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
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Grand Rapids compares
| Measure | Grand Rapids | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +4.9% | +1.2% | #68 |
| Home value, 5-yr change | +29.7% | +19.7% | |
| 12-month forecast | +3.3% | +1.1% | #106 |
| Rent, 1-yr change | +4.3% | +2.7% | #168 |
| Gross rent yield | 5.4% | 6.3% | #349 |
| Price-to-rent ratio | 18.4 | 15.8 | |
| Mortgage P&I on typical home | $1,954 | $2,012 | |
| Income needed to buy | $96,113 | $100,902 | |
| Days to pending | 25 | 56 |
Cities in the Grand Rapids metro
5 cities with home value and rent data.
| Grand Rapids | $304K | ▲ 3.3% | $1,602 | ▲ 4.3% | 6.3% |
| Holland | $371K | ▲ 4.4% | $1,618 | ▲ 1.2% | 5.2% |
| Wyoming | $291K | ▲ 3.7% | $1,555 | ▲ 3.5% | 6.4% |
| Kentwood | $332K | ▲ 3.9% | $1,565 | ▲ 6.4% | 5.7% |
| Grand Haven | $399K | ▲ 4.4% | $1,690 | ▲ 6.7% | 5.1% |
Run the numbers
Rental property calculator
Cash flow on a typical Grand Rapids rental ($356K, $1,614/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Grand Rapids home.
Rent vs buy
Is it cheaper to rent or buy in Grand Rapids?
Renting out a property in Michigan? See deposit limits, late fee rules and notice periods.
Other Michigan metros
Detroit, MI
$264K home$1,514 rent6.9% yield
▲ 1.8% 1 yr
Lansing, MI
$246K home$1,302 rent6.3% yield
▲ 3.6% 1 yr
Flint, MI
$196K home$1,041 rent6.4% yield
▲ 4.1% 1 yr
Ann Arbor, MI
$412K home$1,917 rent5.6% yield
▲ 2.4% 1 yr
Kalamazoo, MI
$274K home$1,287 rent5.6% yield
▲ 4.4% 1 yr
Saginaw, MI
$175K home$1,055 rent7.2% yield
▲ 5.4% 1 yr
Muskegon, MI
$255K home$1,288 rent6.1% yield
▲ 4.3% 1 yr
Jackson, MI
$225K home$1,185 rent6.3% yield
▲ 2.6% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.