Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$355,636+4.9% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 25% have cut their price
Income needed to buy, per year$77,094About 0.9× the local median income ($81,993): affordable for a typical household
Days on market43 daysAbout the same pace as a year ago
Next 12 months+3.3%Zillow expects prices to rise slightly
The typical home in Grand Rapids-Wyoming-Kentwood, MI is worth $355,636, up 4.9% from a year ago. That is well above what local incomes have historically supported: fair value is about $280,802, so the area is 26.7% overvalued. It is a balanced market: homes take about 43 days to sell, listings are up 25% from a year ago, 25% of listings have had a price cut. Zillow expects prices to rise about 3.3% over the next year. A household needs about $77,094 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $81,993. Typical rent is $1,614 a month, or $2,159 for a house. In the latest IRS figures, 16 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$355,636
Change in 1 year
+4.9%
Overvalued %
+26.7%
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Fair home value
$280,802
Change in 5 years
+29.7%
Zillow forecast, next 12 months
+3.3%
Home value to income
4.3×
Monthly mortgage payment (20% down)
$1,927
Income needed to afford it
$77,094
Property tax rate
1.07%
Rent and investing
Typical rent
$1,614
Typical rent for houses
$2,159
Price-to-rent ratio
18.4×
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HUD Fair Market Rent, 2 bedrooms
$1,545
Gross rental yield
5.44%
Cap rate (estimate)
3.54%
Market activity
Listings vs a year ago
+25.2%
Days on market
43
Listings with a price cut
24.6%
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Homes for sale
2,368
Pending sales per 100 listings
49
Asking price per sq ft
$214
People and jobs
Median household income
$81,993
Population change (1 year)
+0.7%
Unemployment rate
4.0%
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Population
1,183,645
Income adjusted for cost of living
$85,857
Net moves in (IRS)
+16
Cost of living (US = 100)
95.5
Schools, risk and environment
School rating (1 to 10)
7.0
FEMA hazard risk score (0 to 100)
83.2
Unhealthy air days a year
9
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Flood risk score
87.4
Wildfire risk score
37.7
Walkability (1 to 20)
8.1
Road, rail and air noise
54 dB
Questions people ask
Is Grand Rapids-Wyoming-Kentwood, MI overvalued?
Home prices in Grand Rapids-Wyoming-Kentwood, MI are well above what local incomes have historically supported: fair value is about $280,802, so the area is 26.7% overvalued.
Is Grand Rapids-Wyoming-Kentwood, MI a buyer's or seller's market?
Grand Rapids-Wyoming-Kentwood, MI is a balanced market: homes take about 43 days to sell, listings are up 25% from a year ago, 25% of listings have had a price cut.
Are home prices going down in Grand Rapids-Wyoming-Kentwood, MI?
Home values in Grand Rapids-Wyoming-Kentwood, MI are up 4.9% over the last year. Zillow's forecast for the next 12 months is +3.3%.
How much do you need to earn to buy a home in Grand Rapids-Wyoming-Kentwood, MI?
A household needs about $77,094 a year to afford the typical home in Grand Rapids-Wyoming-Kentwood, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $81,993.