Grand Rapids, MI home prices
Typical home $355,636 · +4.9% in a year · income needed $103,700
The Grand Rapids, MI metro area ranks 215 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +4.9% in a year and +29.7% over five years. With 20% down at 7.11%, the typical home costs about $2,421 a month including 1.11% property tax (Kent County rate).
Mortgage on the typical Grand Rapids home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $71,127 | $284,509 | $1,914 | $0 | $507 | $2,421 | $103,700 |
| 10% down | $35,564 | $320,072 | $2,153 | $133 | $507 | $2,793 | $119,700 |
| 5% down | $17,782 | $337,854 | $2,273 | $141 | $507 | $2,920 | $125,200 |
| 3.5% down (FHA) | $12,447 | $349,194 | $2,349 | $157 | $507 | $3,013 | $129,100 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.11% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Grand Rapids area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Kent County, MI | $353,407 | +4.5% | 1.11% |
| Ottawa County, MI | $397,062 | +4.8% | 1.02% |
| Ionia County, MI | $264,748 | +6.3% | 1.13% |
| Montcalm County, MI | $241,951 | +6.8% | 1.01% |
What can you afford in Michigan on your salary? · Michigan home prices · Salaries in Michigan
Frequently asked questions
How much is a house in Grand Rapids?
The typical home in the Grand Rapids, MI metro area is worth $355,636 (Zillow, September 2026).
What salary do you need to buy a house in Grand Rapids?
About $103,700 a year for the typical home with 20% down at 7.11%.