Property Prices in Grand Rapids, MI, United States

Index Info
Price to Income Ratio: 2.87
Mortgage as Percentage of Income: 21.64%
Loan Affordability Index: 4.62
Price to Rent Ratio - City Centre: 11.46
Price to Rent Ratio - Outside of Centre: 6.15
Gross Rental Yield (City Centre): 8.73%
Gross Rental Yield (Outside of Centre): 16.27%
Rent Per Month
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Apartment (1 bedroom) in City Centre 1,100.85 $ 950.00-1,500.00
Apartment (1 bedroom) Outside of Centre 909.62 $ 750.00-1,200.00
Apartment (3 bedrooms) in City Centre 1,796.92 $ 1,500.00-2,500.00
Apartment (3 bedrooms) Outside of Centre 1,402.78 $ 1,200.00-2,200.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 245.01 $ 158.37-358.36
Price per Square Feet to Buy Apartment Outside of Centre 106.04 $ 103.25-107.45
Salaries And Financing
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Average Monthly Net Salary (After Tax) 3,294.76 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 4.43 4.10-5.00

These data are based on 133 entries in the past 18 months from 32 different contributors.
Last update: May 2021

Sources and References
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