Grand Rapids, MI

Population: 189,815
Average annual home appreciation rate: 9.03%
Total of homes for sale in this market:
Median home price: $113,030
Median Rent: $644 per room
Home price range: 56.39% of homes are between $99,001 – $198,000
Median sales price:
Number of homes:
Median foreclosure sales price:
Foreclosure discount:
Most common home type: 59.67% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 10.39%
Number of renters: 40.94%
Number of owner occupied: 59.06%
Number people living below poverty level: 25.54%
Unemployment rate: 10.0%
Is this area perfect for real estate deals going on right now? Importantly, data shows this makes Grand Rapids one of the highest appreciating communities in the nation for the latest quarter, and may signal the city’s near-future real estate investment strength. With low prices on the homes, high rent, and high unemployment and poverty level, this market could be a great opportunity for savvy cash investors who are interested in buy and hold properties.

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