Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroomSaved on this device

Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroom

Grand Rapids, MI

Housing in Grand Rapids, MI: Rent, Home Prices & Property Tax

$1,252/mo (1 bd) in Grand Rapids. Median home $261,600. Property tax 1.31%.

Compare vs Chicago Rank metros from Grand RapidsHow we figure this

Rent (1 bd): $1,252; /mo
Buy: $1,848; Mortgage, tax, insurance
Buying costs more: $596; /mo

State tax and rent

To buy

20% down payment$52,320
Mortgage at 6.5%$1,323
Property tax (1.31% of value)$286/mo · $3,427/yr
Insurance and upkeep$240
Monthly total$1,848

45.3% of renters spend 30% or more of income on rent. Census ACS 2023.

Months to 20% down

$2,403 left each month. About 22 months (1.8 years) to save $52,320.

Asking rent. Census median home price. 30-year fixed, 6.5%, 20% down. Not lending advice.

Moving from Grand Rapids

Grand Rapids → Detroit · $101 more

Compare Grand Rapids