Grand Rapids, MI Real Estate
According to census data in the year 2000 there were 78,003 housing units in Grand Rapids.
This represents a 5.8% growth from 73,716 in 1990.
Of those housing units, 78,003 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Grand Rapids is about 59.8%.
Grand Rapids's vacancy rate, including seasonal lodging, is about 6%.
Average household size is 2.57 people.
The majority of houses, apartments or condos in Grand Rapids were built after 1951.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.60% |
| One Bedroom | 14.80% |
| Two Bedrooms | 30.20% |
| Three Bedrooms | 37% |
| Four Bedrooms | 12.60% |
| Five Bedrooms or more | 2.80% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.73 |
| Median year structure was built | 1950 |
| Median Value of occupied units | $91,400 |
| Median Price asked for vacant units | $76,200 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.33 |
| Median year structure was built | 1954 |
| Median Monthly Rent asked for vacant units | $453 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.40% |
| Second Mortgage | 4.90% |
| Home Equity Loan | 8.60% |
| Simple Mortgage | 56% |
| Debt Free | 30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.9% |
