Housing costs in Grand Rapids?
A typical home costs
$229,300, which is 32.2% less expensive than the national average of
$338,100 and 4.8% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Grand Rapids costs
$1,220 per month, which is 10.9% more than the national average of
$1,100 and 4.1% more than the state average of
$1,170.
Can I afford Grand Rapids?
To live comfortably in Grand Rapids (zip 49503), Michigan, a minimum annual income of
$43,920 for a family, and
$40,400 for a single person is recommended.
What does A.I. say about Grand Rapids?
The cost of living in Grand Rapids, MI is quite reasonable compared to other cities. The average cost of a home in Grand Rapids is around $177,000, which is about 11% lower than the national average. Property taxes are also quite low, with an effective rate of just 1.49%, and groceries are approximately 6% lower than the national average. Utilities are also reasonably priced, with electricity costing an average of 12 cents per kilowatt hour and Natural Gas coming in at only $1.42 per therm on average. With its low cost of living, Grand Rapids makes an affordable place to live for residents and visitors alike.