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  4. /East Grand Rapids, MI - 49506

East Grand Rapids, MI—49506

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$442,000
4.2% YoY Growth
Household Income
$112,000
45.8% YoY Growth
Days on Market
24
9.0% Longer YoY
Home Price Forecast
2.7%
Median Rent
$1,650
1.1% YoY Growth
1-Bed Rent
$1,200
1.6% YoY Growth
2-Bed Rent
$1,450
0.7% YoY Growth
3-Bed Rent
$2,350
13.2% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — East Grand Rapids, MI

As of May '26, the median home price in East Grand Rapids, MI is $442,000, with a year-over-year change of 4.2%. This indicates that home prices in East Grand Rapids, MI are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$442,0004.2%
Single Family $453,0004.9%
Condos $256,0003.2%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$300,0003.8%
    3 Bed
    		$415,0004.3%
    4 Bed
    		$604,0006.5%
    5 Bed $877,6787.2%
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    % of Housing Stock

    Studio
    2.1%
    1 Bedroom
    5.8%
    2 Bedrooms
    18.9%
    3 Bedrooms
    37.1%
    4 Bedrooms
    28.8%
    5+ Bedrooms
    7.4%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    3.5%
    1 Bedroom
    20.6%
    2 Bedrooms
    39.7%
    3 Bedrooms
    25.2%
    4 Bedrooms
    9.4%
    5+ Bedrooms
    1.6%

    Property Listings — East Grand Rapids, MI

    As of May '26, Realtor.com reports that the median days on market for a home in East Grand Rapids, MI is 24. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$515,000-4.0%
    Listing Count
    		120-8.0%
    Listings as % of Homes0.4%-8.0%
    Days on Market
    		249.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		35,0004.1%
    % Under 18
    		24.7%6.9%
    % Seniors
    		11.0%-16.0%
    % WFH
    		17.8%161.8%
    % w/ College Degree
    		67.0%7.0%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio3.3
    Median Home Price$442,000
    Median Household Income$112,000

    East Grand Rapids, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    49507

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    Frequently Asked Questions