Property Prices in Grand Rapids, MI, United States
| Index |  |
|---|---|
| Price to Income Ratio: | 1.93 |
| Mortgage as Percentage of Income: | 15.88% |
| Loan Affordability Index: | 6.30 |
| Price to Rent Ratio - City Centre: | 6.94 |
| Price to Rent Ratio - Outside of Centre: | 6.22 |
| Gross Rental Yield (City Centre): | 14.42% |
| Gross Rental Yield (Outside of Centre): | 16.08% |
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Rent Per Month |  Edit |
Range |
|---|---|---|
| Apartment (1 bedroom) in City Centre | 1,541.67 $ | |
| Apartment (1 bedroom) Outside of Centre | 1,200.00 $ | |
| Apartment (3 bedrooms) in City Centre | 2,866.67 $ | |
| Apartment (3 bedrooms) Outside of Centre | 2,120.00 $ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 220.00 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 150.00 $ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 5,145.83 $ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 5.43 |
These data are based on 39 entries in the past 18 months from 8 different contributors.
Last update: June 2023
Sources and References
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