Grand Rapids - MI housing market
The Grand Rapids metro has a typical home value of $357,283, up 4.9% from a year ago. Homes are moving fast at 8 days on market, a strong seller's market. 29% of listings have had a price cut. Data from Zillow Research, updated monthly.
Grand Rapids housing market, October 2026
The typical Grand Rapids home is worth $357,283 as of August 2026, up 0.4% from the prior month, up 0.7% over three months, and up 4.9% from a year ago. Over the past two years values have ranged from $330,112 to $357,283.
Homes are going pending in about 8 days, slower than the 6 days seen three months earlier. There are roughly 2,717 homes for sale, 11% more than a year ago. 28.7% of listings have taken a price cut (up from 18.1% three months ago).
Typical rent is $1,631 a month, up 3.8% year over year, which puts the price-to-rent ratio at 18.3.
At this week's 7.40% mortgage rate with 20% down ($71,457), the typical Grand Rapids home costs about $2,426 a month including tax and insurance, which needs a household income of roughly $104,000 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($357,283) is the Zillow Home Value Index for the Grand Rapids - MI metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 4.9% over the past year. In Grand Rapids - MI, that means a home worth $340,594 last year is now worth roughly $357,283.
The median sale price, what homes actually close for, is $345,325. Homes are selling at 101.3% of list price, meaning buyers are typically paying at or above asking.
Homes listed in Grand Rapids - MI sit on the market for roughly 8 days before going pending. Shorter = seller's market; longer = buyer's market.
About 28.7% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 1,349 new listings hit the market each month in Grand Rapids - MI. There are currently 2,717 homes for sale, up 11.2% from a year ago.
The typical monthly rent in Grand Rapids - MI is $1,631, up 3.8% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 18.3x, toss-up (#71 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,979 a month in principal and interest, $348 more than renting before taxes, insurance and upkeep. The two break even at a 5.55% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in MI
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Detroit - MI | $267,167 | +2.1% | 12.0d |
| Lansing - MI | $249,666 | +3.6% | 9.0d |
| Flint - MI | $196,792 | +4.7% | 12.0d |
| Ann Arbor - MI | $416,914 | +2.5% | 13.0d |
| Kalamazoo - MI | $278,194 | +4.4% | 10.0d |