Property Prices in Grand Rapids, MI, United States

Index Info
Price to Income Ratio: 2.20
Mortgage as Percentage of Income: 19.72%
Loan Affordability Index: 5.07
Price to Rent Ratio - City Centre: 5.10
Price to Rent Ratio - Outside of Centre: 7.09
Gross Rental Yield (City Centre): 19.59%
Gross Rental Yield (Outside of Centre): 14.11%
Rent Per Month
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Apartment (1 bedroom) in City Centre 1,983.33 $ 1,750.00-2,200.00
Apartment (1 bedroom) Outside of Centre 1,412.50 $ 1,100.00-1,750.00
Apartment (3 bedrooms) in City Centre 2,866.67 $ 1,600.00-4,500.00
Apartment (3 bedrooms) Outside of Centre 2,100.00 $ 1,500.00-2,500.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 187.00 $ 187.00-199.00
Price per Square Feet to Buy Apartment Outside of Centre 187.00 $ 187.00-199.00
Salaries And Financing
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Average Monthly Net Salary (After Tax) 4,581.41 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.54 6.19-6.80

These data are based on 61 entries in the past 18 months from 20 different contributors.
Last update: April 2024

Sources and References
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