Cost of Living in Grand Rapids, MI
Population: 197,768 • 2026 Data
$65,526
Median Household Income
-15% vs national
$1,191
Median Monthly Rent
-12% vs national
$225,500
Median Home Value
-33% vs national
5.0%
Unemployment Rate
Housing in Grand Rapids
The median home value in Grand Rapids, MI is $225,500. Monthly rent for a typical unit averages $1,191, while total monthly housing costs (including utilities and insurance) average $1,136.
Rent-to-income ratio: 21.8%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Grand Rapids, MI is $65,526. The unemployment rate stands at 5.0%, with a labor force of 109,811 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.