Landlord Resources
How to Get a Loan for a Rental Property
Rental property loans differ from traditional mortgages, needing larger down payments, higher interest rates, and reserves, often disregarding projected rental income.
•11 min read
What to Know About
Living in 49516
Grand Rapids is a vibrant city in western Michigan, known for its unique mix of urban sophistication and small-town charm. It's a city steeped in history, with iconic landmarks like Meyer May House, La Grande Vitesse, Grand Rapids Art Museum, and Broadway Grand Rapids, Grand Rapids Public Museum. Grand Rapids is also home to several world-renowned universities, including Grand Valley State University and Calvin University, which provide top-notch academic programs and opportunities.
Nature enthusiasts will love the many outdoor activities available in Grand Rapids, such as hiking and biking along the White Pine Trail, exploring the Blandford Nature Center, or visiting the John Ball Zoo. Regarding gastronomy, you get the entire mix of dining experiences, with options ranging from farm-to-table cuisine, and the downtown area has a variety of breweries to explore. In addition, Grand Rapids hosts several major events throughout the year, like The Grand Rapids ArtPrize and the Festival of the Arts, which you will want to attend.
Its abundance of parks, recreational activities, and family-friendly attractions make Grand Rapids an exceptional place to live.
Rental Market Trends
Grand Rapids, MI
As of June 2026, Grand Rapids's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Grand Rapids's average rent is 22.9% ($327) higher than the Michigan average of $1,429 and 2.3% ($41) lower than the U.S. average of $1,797.
Average Rent
$1,756
Monthly ChangeMonth Over Month Change
3.7% ($63)
Yearly ChangeYear Over Year Change
2% ($35)
Avg. Days on MarketAverage Days on Market
36
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,439 | 6.8% ($92) | 2.1% ($30) |
| 2 Beds | $1,886 | 1.5% ($27) | 5% ($89) |
| 3 Beds | $2,368 | 8.4% ($183) | 8.7% ($189) |
| Nearby Cities | Average Rent | Avg. Rent vs. Grand RapidsAverage Rent vs. Grand Rapids | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Wyoming | $1,132 | 35.5% ($624) | 38 days |
| Grandville | $2,790 | 58.9% ($1034) | 36 days |
| Comstock Park | $1,277 | 27.3% ($479) | 38 days |
| Belmont | $1,879 | 7% ($123) | 33 days |
| Caledonia | $2,348 | 33.7% ($592) | 38 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Grand Rapids Rental Market FAQs
Explore rental prices, market trends, and availability in Grand Rapids, MI.
The average rent in Grand Rapids, MI is $1,756 per month.
Homes in Grand Rapids typically rent for between $1,007 and $3,078 per month, with an average of $1,756 per month.
In Grand Rapids, the average rent for a 1-bedroom home is $1,439 per month, for a 2-bedroom home, $1,886 per month, and a 3-bedroom home is $2,368 per month.
The average rent in Grand Rapids is 2.3% ($41) lower than the national average of $1,797 per month.
The average rent in Grand Rapids has increased by 3.7% ($63) in the last month and increased by 2.0% ($35) over the past year.
The rental market in Grand Rapids, MI, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Grand Rapids, MI, the average rental stays on the market for approximately 36 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 244 rental properties available in Grand Rapids, MI.
Based on the current averages, a household would need an annual income of $75,440 to comfortably afford a 2-bedroom home in Grand Rapids.
