Property Prices in Grand Rapids, MI, United States

Index Info
Price to Income Ratio: 2.56
Mortgage as Percentage of Income: 19.32%
Loan Affordability Index: 5.18
Price to Rent Ratio - City Centre: 11.39
Price to Rent Ratio - Outside of Centre: 6.19
Gross Rental Yield (City Centre): 8.78%
Gross Rental Yield (Outside of Centre): 16.15%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 1,100.85 $ 950.00-1,500.00
Apartment (1 bedroom) Outside of Centre 898.33 $ 750.00-1,045.00
Apartment (3 bedrooms) in City Centre 1,821.67 $ 1,500.00-2,800.00
Apartment (3 bedrooms) Outside of Centre 1,402.78 $ 1,200.00-2,200.00
Buy Apartment Price
Edit
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
Edit
Average Monthly Net Salary (After Tax) 3,690.62 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 4.43 4.10-5.00

These data are based on 109 entries in the past 18 months from 20 different contributors.
Last update: July 2021

Sources and References
Sign up for our newsletter:
Your Email Address:
Leave a comment:

Your name: Sign In

Your email address (optional):

Your comment (no HTML):

0 Comments so far