Department of Numbers

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 $794 in 2015 according to the Census ACS survey.1 Average gross rent in Grand Rapids was $834 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Grand Rapids median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Grand Rapids Michigan (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Michigan Median Gross Rent $803 +2.42% +7.07%
Grand Rapids, MI Median Gross Rent $794 +0.51% +8.47%

Grand Rapids, MI Real Gross Rent Trends

At $794, real median gross rent in Grand Rapids was at its highest level in 2015 since the series began in 2005. At $834, real average gross rent in Grand Rapids was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Grand Rapids: Grand Rapids MI Median, Grand Rapids MI Average, Michigan Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Grand Rapids

Date US
Median
Michigan
Median
Grand Rapids, MI
Median
Grand Rapids, MI
Average
2015 $959 $803 $794 $834
2014 $930 $784 $790 $801
2013 $898 $762 $755 $783
2012 $886 $750 $732 $754
2011 $887 $752 $728 $739
2010 $901 $769 $735 $748
2009 $905 $769 $736 $752
2008 $920 $788 $764 $794
2007 $874 $756 $717 $740
2006 $883 $781 $749 $747
2005 $858 $772 $720 $731

Grand Rapids Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Grand Rapids Michigan was 4.60% according to Census ACS data.

Rental Vacancy Rate in Grand Rapids Michigan

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Michigan 5.19% -0.69% -1.54%
Grand Rapids, MI 4.60% +0.70% -0.62%

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 4.94% to 4.60%. Data records for this series originated in 2005. From a 2014 post peak low of 3.90%, the rental vacancy rate has increased by 0.70%.

Rental Vacancy Rate: Grand Rapids MI, Michigan, US

Rental vacancy rate in Michigan

Historical Rental Vacancy Rate data for Grand Rapids

Date US Michigan Grand Rapids, MI
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%
2008 7.86% 9.73% 8.77%
2007 7.87% 9.66% 6.93%
2006 7.70% 10.42% 7.61%
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 17.18% in 2015 according to the ACS.

Grand Rapids Michigan Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Michigan 18.86% -0.11% -0.29%
Grand Rapids, MI 17.18% -0.34% -0.11%

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 0.63% to 17.18%.

Fraction of Income towards Rent: Grand Rapids MI, Michigan, US

Percent of median household income going towards median monthly gross rent in Grand Rapids Michigan

Historical Data for Annual Rent as a Fraction of Income in Grand Rapids Michigan

Date US Michigan Grand Rapids, MI
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%
2008 19.00% 17.44% 16.44%
2007 18.66% 17.09% 15.83%
2006 18.90% 17.17% 16.67%
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 2015 27.88% of households were renters according to Census ACS data.

Grand Rapids Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Michigan 29.58% -0.18% +0.64%
Grand Rapids, MI 27.88% -1.01% -0.86%

Trends in the Grand Rapids, MI Renter Fraction

The Grand Rapids household renter fraction peaked in in 2014 at 28.89% and is now 1.01% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Grand Rapids MI, Michigan, US

Fraction of renters in Grand Rapids

History of Grand Rapids Renter Fraction

Date US Michigan Grand Rapids, MI
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%
2008 33.36% 26.02% 25.34%
2007 32.80% 25.17% 25.94%
2006 32.73% 24.83% 25.82%
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.