Grand Rapids, MI Rental Market
Grand Rapids is Michigan's second-largest city and one of the most economically vibrant metros in the Midwest. Amway Corporation, Meijer, Spectrum Health, and Mercy Health Systems are among the largest employers, supplemented by a thriving craft brewing industry, furniture manufacturing sector, and growing tech scene. The city consistently ranks among the top Midwest markets for quality of life and is attracting significant population growth from young professionals.
Get a rent estimate for an address in Grand RapidsAverage Rent in Grand Rapids, MI
$1,250
per month · 2026-06
Market Score
Key Facts — Grand Rapids, MI Rental Market
- Average rent in Grand Rapids, MI:$1,250/mo
- Median rent:$1,150/mo
- Rent range:$625 – $2,750/mo
- Most common rental (2 bedrooms):$1,100/mo
- Active listings:1,100
- Avg days to lease:30 days
- Year-over-year change:+3.5%
- Median home value:$230,000
- Est. gross annual yield:6.5%
- Data as of:2026-06
Rent by Bedroom in Grand Rapids, MI
Average monthly rent for each bedroom type based on current active listings in Grand Rapids.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $900/mo |
2 Bedrooms | $1,100/mo |
3 Bedrooms | $1,400/mo |
4 Bedrooms | $1,725/mo |
5 Bedrooms | $1,975/mo |
Grand Rapids Rental Market Statistics
Key indicators from the current Grand Rapids, MI rental market.
1,100
Available now in Grand Rapids
30
From list to lease
$0.98
Average across listings
1,275 sq ft
Typical rental size
$625 – $2,750
Min to max active listings
+3.5%
Avg rent vs. prior year
Investing in Grand Rapids, MI Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$230,000
Typical purchase price in Grand Rapids
Est. Gross Annual Yield
6.5%
Before expenses & vacancy
Avg Monthly Income
$1,250
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Grand Rapids for a full cash-flow breakdown including all costs.
Grand Rapids, MI Rental Market FAQ
Common questions about renting and investing in Grand Rapids, MI.
What is the average rent in Grand Rapids, MI?
The average rent in Grand Rapids, MI is $1,250 per month as of 2026. One-bedroom apartments average $900/mo, two-bedrooms $1,100/mo, and three-bedroom homes $1,400/mo. The Heritage Hill, East Hills, and Eastown neighborhoods command above-average rents.
Is Grand Rapids, MI a good place to invest in rental property?
Grand Rapids offers an estimated 6.5% gross annual yield with consistent 3.5% year-over-year rent growth. The city's diverse economy, strong healthcare and education employers, and in-migration from Chicago and Detroit make it a top-tier investment market in Michigan. Moderate home values (~$230,000) allow accessible entry.
How competitive is the Grand Rapids, MI rental market?
Grand Rapids averages 30 days on market with approximately 1,100 active listings. The East Hills, Heritage Hill, and near-downtown neighborhoods are highly competitive, with properties often leasing within 2–3 weeks. The broader market remains active with consistent absorption throughout the year.
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