Aug 2026
$308K
+2.7% year-over-year
How it’s calculated
Rolling 3-month median sale price vs. same 3 months one year prior.
Grand Rapids, MI housing market
Grand Rapids, MI median sale price $308K in Aug 2026, up 2.7% year over year. Also days on market, price cuts, affordability and ZIP-code figures.
The median sale price in Grand Rapids, MI is $308K as of Aug 2026, up 2.7% from a year earlier. That change sits near the middle of the 195 U.S. metros Pecan Street ranks on this measure. FHFA's repeat-sales index for the metro agrees within 1.8 points (up 4.5% through Q2 2026).
On median sale price, Grand Rapids ($308K) ranks 2nd of the four Michigan metros Pecan Street tracks, between Ann Arbor ($483K) and Lansing ($157K). Grand Rapids has the fewest median days on market of the four Michigan metros (42 days); Detroit (43 days) is next. Grand Rapids has the highest share of listings with a price cut of the four Michigan metros (46%), ahead of Lansing (42%).
Listings spent a median 42 days on market in Sep 2026, fewer than in most of the 195 metros. 46% of active listings carry a price cut, 0.2 points more than a year earlier. That share is higher than in most of the 195 metros. Building permits authorized 301 new housing units in Aug 2026.
At the 7.45% 30-year fixed rate with 20% down, principal and interest on a median-priced home come to $1,714 a month; at 28% of gross income, that takes about $73K a year. The median sale price equals about 12 years of HUD Fair Market Rent, a ratio down 3.8% from a year earlier. That ratio is lower than in most of the 195 metros. Active listings ask a median $215 per square foot, up 3.2% from a year earlier.
In nine of the 12 ZIP codes in the table below, median list prices are higher than a year earlier; three are lower.
Headline
Oct 6, 2026
7.45%
30-year fixed
Where it comes from
National benchmark: Optimal Blue OBMMI 30-year conforming, via FRED. An average of rates borrowers have actually locked, updated daily.
The same rate appears on every market page.
Principal & interest
$1,714/mo
$73K/yr income needed
How it’s calculated
Payment — this market’s median sale price with 20% down, on a 30-year fixed loan at the rate shown. Principal and interest only — no property tax, insurance, PMI or HOA.
Income needed — that payment at 28% of gross income. A rule of thumb, not a lending decision.
How Grand Rapids compares to other U.S. metros
| Days on market | ↓172nd of 195 |
|---|---|
| Price cuts | ↑31st of 195 (top 16%) |
| Price-to-rent | ↓144th of 195 |
| Home-price growth | 82nd of 195 (top 43%) |
Rank across the U.S. metros Pecan Street tracks, on market data alone — a higher rank means more of that measure (more price cuts, faster price growth, a wider asking-vs-sale gap, a higher price-to-rent ratio, or more days on market). The bar shows where this metro sits within that metric’s own cohort (left is more, right is less); ↑ and ↓ mark the positions furthest from the middle, and rows are ordered the same way. Metrics without data for this metro are omitted.
Affordability
| Price-to-rent ratio | ≈ 12 -3.8% YoY ↓144th of 195 |
|---|---|
| Asking price / sq ft | $215 +3.2% YoY |
Price-to-rent divides the median sale price by the annual HUD Fair Market Rent (a 3-bedroom, 40th-percentile benchmark), so it is a directional rent-vs-buy read, not a cap rate; its year-over-year change is directional in the same way. Asking price per square foot is the median across active for-sale listings (Realtor.com), as of Sep 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.
Market pressure
| Listings with a price cut | ≈ 46% +0.2 pts YoY ↑31st of 195 (top 16%) |
|---|---|
| New housing units permitted | 301 |
Price-cut share is the portion of active for-sale listings that have taken a price reduction (Realtor.com), as of Sep 2026. New housing units authorized by residential building permits in the metro that month — new supply in the pipeline, which counts of existing listings don't capture (US Census Bureau, Building Permits Survey), as of Aug 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.
Market facts
| ZIPs with listing data | 12 shown of 75 |
|---|---|
| MLS board of record | — |
| Price methodology | Redfin vs FHFA HPI |
| Data as of | Aug 2026 |
Recent signals
No signals flagged for this market right now.
Price reconciliation
normal · 1.8ppRedfin (city) +2.7% | FHFA HPI · Q2 2026 +4.5% |
Year-over-year home-price change from two independent methods — Redfin (monthly sold price) and FHFA (quarterly repeat-sales index). When they diverge, the market is mid-shift; cite the figure with that in mind.
More markets in MI
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Try it freeZIP-level data
| ZIP | Median list price | Active listings | New listings | Price reductions | Days on market | Home value |
|---|---|---|---|---|---|---|
| 48838 | $330K↑ | 61↑ | 48↑ | 30↑ | 36↓ | $276K↑ |
| 49315 | $624K↑ | 63↑ | 36↑ | 28↑ | 41↓ | $464K↑ |
| 49316 | $555K↑ | 64↑ | 34↑ | 24↑ | 53↑ | $447K↑ |
| 49341 | $532K↑ | 90↑ | 52↑ | 48↑ | 42↑ | $462K↑ |
| 49417 | $483K↑ | 95↑ | 42↓ | 30↓ | 51↑ | $404K↑ |
| 49424 | $454K↓ | 88↑ | 52↑ | 26↑ | 46↓ | $394K↑ |
| 49456 | $479K↑ | 93↑ | 30↑ | 40↑ | 60↑ | $423K↑ |
| 49503 | $300K↓ | 90↑ | 38↓ | 36↑ | 47↑ | $289K↑ |
| 49504 | $310K↑ | 74↓ | 50↑ | 50↑ | 27↓ | $291K↑ |
| 49506 | $382K↓ | 79↑ | 44↓ | 36↑ | 42↓ | $437K↑ |
| 49507 | $252K↑ | 72↓ | 50↓ | 28↑ | 44↓ | $243K↑ |
| 49525 | $518K↑ | 62↑ | 36↑ | 24 | 45↑ | $388K↑ |
ZIP figures from Realtor.com listing data; home value from Zillow ZHVI. ZIP codes shown have the most complete listing-data history and active for-sale inventory in this metro; the latest available month is shown per ZIP. Arrows show the direction of each figure against the same three months a year earlier; no arrow means the change rounds to zero or the comparison isn't available.