East Grand Rapids, MI—49506
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — East Grand Rapids, MI
As of Oct '25, the median home price in East Grand Rapids, MI is $409,000, with a year-over-year change of 2.9%. This indicates that home prices in East Grand Rapids, MI are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $409,000 | 2.9% |
| Single Family | $418,000 | 3.5% |
| Condos | $250,000 | 3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $284,000 | 2.5% |
3 Bed | $385,000 | 2.9% |
4 Bed | $557,000 | 4.9% |
| 5 Bed | $819,000 | 4.7% |
% of Housing Stock
Rental Trends — East Grand Rapids, MI
As of July '25, Rentcast reports the average rent in East Grand Rapids, MI is $1,860, with a year-over-year rent change of -1.1%. Per bedroom, the median rent as of July '25 in East Grand Rapids, MI is studios: $1,130, 1-bedrooms: $1,220, 2-bedrooms: $1,460, 3-bedrooms: $2,230, 4-bedrooms: $2,440. The most common rental property sizes in East Grand Rapids, MI are 2-bedroom and 3-bedroom, accounting for 39.7% and 25.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,860 |
| Studio Rent | $995 | $1,130 |
| 1 Bed Rent | $1,200 | $1,220 |
| 2 Bed Rent | $1,450 | $1,460 |
| 3 Bed Rent | $2,350 | $2,230 |
| 4 Bed Rent | $2,300 | $2,440 |
% of Rental Stock
Property Listings — East Grand Rapids, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in East Grand Rapids, MI is 33. This is a decrease of -17.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $443,000 | -14.0% |
Listing Count | 106 | 2.0% |
| Listings as % of Homes | 0.4% | 2.0% |
Days on Market | 33 | -17.0% |
Demographics — East Grand Rapids, MI
As of the latest ACS Survey released in 2023, East Grand Rapids, MI has a population of 35,000, which has increased by 4.1% over the past 5 years. East Grand Rapids, MI is a moderately popular place for families, as children make up 24.7% of the population. The area has a highly educated workforce, with 67.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,000 | 4.1% |
% Under 18 | 24.7% | 6.9% |
% Seniors | 11.0% | -16.0% |
% WFH | 17.8% | 161.8% |
% w/ College Degree | 67.0% | 7.0% |
As of the latest ACS Survey released in 2023, East Grand Rapids, MI is a predominantly white area, with 76.3% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in East Grand Rapids, MI is black, making up 11.0% of the population. Foreign-born residents account for 5.6% of the population in East Grand Rapids, MI, and this percentage has decreased by 9.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 76.3% | -2.4% |
% Black | 11.0% | -19.7% |
% Hispanic | 4.4% | 12.8% |
% Asian | 2.1% | 40.0% |
% Foreign Born | 5.6% | -9.7% |
Mortgage and Risk — East Grand Rapids, MI
According to HUD data as of 2023, there were 746 mortgage originations in East Grand Rapids, MI, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in East Grand Rapids, MI. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 746 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — East Grand Rapids, MI
As of 2024, the percent of homes in East Grand Rapids, MI under the Section 8 program is 9.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in East Grand Rapids, MI, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 324 |
Total Units Section 8 | 298 |
% Rentals under Section 8 | 9.9% |
% Occupied Section 8 | 93.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $1,200 | $1,360 |
| 2 Bedroom | $170 | $1,450 | $1,620 |
| 3 Bedroom | -$240 | $2,350 | $2,110 |
| 4 Bedroom | $10 | $2,300 | $2,310 |
Affordability — East Grand Rapids, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $409,000 |
| Median Household Income | $112,000 |