Grand Rapids Michigan Residential Rent and Rental Statistics
The median monthly gross residential rent in Grand Rapids, MI (the Grand Rapids-Wyoming metro area) was $937 in 2019 according to the Census ACS survey.1 Average gross rent in Grand Rapids was $935 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Grand Rapids median and average rent data will be released in September of 2021.
Data is also available below for Grand Rapids rental vacancy rates, Grand Rapids rent as a percent of median income and the fraction of renters in Grand Rapids.
Real Gross Rent in Grand Rapids Michigan (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Michigan Median Gross Rent | $888 | +1.25% | +3.62% |
| Grand Rapids, MI Median Gross Rent | $937 | +4.81% | +10.24% |
Grand Rapids, MI Real Gross Rent Trends
At $937, real median gross rent in Grand Rapids was at its highest level in 2019 since the series began in 2005. At $935, real average gross rent in Grand Rapids was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Grand Rapids: Grand Rapids MI Median, Grand Rapids MI Average, Michigan Median, US Median
Real Gross Rent History for Grand Rapids
| Date | US Median |
Michigan Median |
Grand Rapids, MI Median |
Grand Rapids, MI Average |
|---|---|---|---|---|
| 2019 | $1,097 | $888 | $937 | $935 |
| 2018 | $1,077 | $877 | $894 | $912 |
| 2017 | $1,043 | $861 | $898 | $919 |
| 2016 | $1,027 | $857 | $850 | $863 |
| 2015 | $1,017 | $852 | $842 | $885 |
| 2014 | $986 | $832 | $838 | $850 |
| 2013 | $953 | $809 | $801 | $831 |
| 2012 | $940 | $796 | $777 | $800 |
| 2011 | $941 | $798 | $772 | $784 |
| 2010 | $955 | $816 | $780 | $793 |
| 2009 | $960 | $816 | $781 | $798 |
| 2007 | $927 | $802 | $760 | $785 |
| 2005 | $910 | $819 | $764 | $775 |
Grand Rapids Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Grand Rapids Michigan was 4.12% according to Census ACS data.
Rental Vacancy Rate in Grand Rapids Michigan
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Michigan | 5.56% | +0.74% | +0.15% |
| Grand Rapids, MI | 4.12% | +0.15% | +1.73% |
Trends in Grand Rapids, MI Rental Vacancy Rate
The rental vacancy rate in Grand Rapids peaked in 2010 at 9.54%. Since then it has fallen by 5.42% to 4.12%. Data records for this series originated in 2005. From a 2016 post peak low of 2.39%, the rental vacancy rate has increased by 1.73%.
Rental Vacancy Rate: Grand Rapids MI, Michigan, US
Historical Rental Vacancy Rate data for Grand Rapids
| Date | US | Michigan | Grand Rapids, MI |
|---|---|---|---|
| 2019 | 5.97% | 5.56% | 4.12% |
| 2018 | 6.15% | 4.82% | 3.97% |
| 2017 | 6.18% | 4.87% | 3.23% |
| 2016 | 5.89% | 5.41% | 2.39% |
| 2015 | 5.85% | 5.19% | 4.60% |
| 2014 | 6.32% | 5.88% | 3.90% |
| 2013 | 6.49% | 6.04% | 4.36% |
| 2012 | 6.77% | 6.73% | 5.22% |
| 2011 | 7.40% | 7.72% | 5.08% |
| 2010 | 8.17% | 9.60% | 9.54% |
| 2009 | 8.43% | 9.48% | 8.60% |
| 2007 | 7.87% | 9.66% | 6.93% |
| 2005 | 7.74% | 10.09% | 7.75% |
Rent as a Fraction of Income
Using median household income data for Grand Rapids, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Grand Rapids, median monthly gross rent as a fraction of median household income was 17.10% in 2019 according to the ACS.
Grand Rapids Michigan Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Michigan | 17.88% | -0.34% | -0.82% |
| Grand Rapids, MI | 17.10% | +0.47% | +0.92% |
Trends in Grand Rapids, MI Rent as a Fraction of Income
The fraction of median Grand Rapids household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 17.81%. Since then it has fallen by 0.70% to 17.10%.
Fraction of Income towards Rent: Grand Rapids MI, Michigan, US
Historical Data for Annual Rent as a Fraction of Income in Grand Rapids Michigan
| Date | US | Michigan | Grand Rapids, MI |
|---|---|---|---|
| 2019 | 20.03% | 17.88% | 17.10% |
| 2018 | 20.50% | 18.22% | 16.63% |
| 2017 | 20.13% | 18.25% | 17.05% |
| 2016 | 20.43% | 18.70% | 16.18% |
| 2015 | 20.63% | 18.86% | 17.18% |
| 2014 | 20.89% | 18.97% | 17.52% |
| 2013 | 20.78% | 19.09% | 17.40% |
| 2012 | 20.65% | 19.16% | 17.29% |
| 2011 | 20.70% | 19.29% | 17.30% |
| 2010 | 20.50% | 19.29% | 17.81% |
| 2009 | 20.12% | 18.99% | 17.43% |
| 2007 | 18.66% | 17.09% | 15.83% |
| 2005 | 18.89% | 17.07% | 15.96% |
Renter Fraction in Grand Rapids Michigan
You can calculate the renter fraction in Grand Rapids in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Grand Rapids as a fraction of total Grand Rapids households. In 2019 27.68% of households were renters according to Census ACS data.
Grand Rapids Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Michigan | 28.43% | -0.38% | -1.25% |
| Grand Rapids, MI | 27.68% | +1.73% | -0.02% |
Trends in the Grand Rapids, MI Renter Fraction
The Grand Rapids household renter fraction peaked in in 2014 at 28.89% and is now 1.21% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Grand Rapids MI, Michigan, US
History of Grand Rapids Renter Fraction
| Date | US | Michigan | Grand Rapids, MI |
|---|---|---|---|
| 2019 | 35.89% | 28.43% | 27.68% |
| 2018 | 36.05% | 28.81% | 25.95% |
| 2017 | 36.13% | 28.67% | 26.61% |
| 2016 | 36.88% | 29.68% | 27.70% |
| 2015 | 36.97% | 29.58% | 27.88% |
| 2014 | 36.90% | 29.76% | 28.89% |
| 2013 | 36.50% | 29.45% | 27.94% |
| 2012 | 36.09% | 28.94% | 28.74% |
| 2011 | 35.42% | 28.26% | 27.76% |
| 2010 | 34.65% | 27.25% | 26.97% |
| 2009 | 34.13% | 26.81% | 25.45% |
| 2007 | 32.80% | 25.17% | 25.94% |
| 2005 | 33.10% | 25.33% | 25.63% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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