Preforeclosure Homes in Grand Rapids, MI

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Home Value Estimator For Grand Rapids, MI

There are currently 94,436 real estate properties in Grand Rapids, MI, with a median automated valuation model (AVM) price of $284,435.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Grand Rapids, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Grand Rapids, MI, is $336,352.00, with the most expensive house in Grand Rapids, MI, topping out at $10,482,100.00 and the cheapest home in Grand Rapids, MI, clocking in at $16,262.00. In other words, there’s something for every potential homebuyer or savvy investor in Grand Rapids, MI!

Rent Prices In Grand Rapids, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Grand Rapids, MI, is on a rollercoaster ride. The average rent price in Grand Rapids, MI, is $1,735.00. Indeed, when looking to rent in Grand Rapids, MI, you can expect to pay as little as $530.00 or as much as $3,820.00, with the average rent median estimated to be $1,650.00. The good news is that finding an affordable and desirable property to rent in Grand Rapids, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Grand Rapids, MI In 2024

Grand Rapids is located in Kent, Michigan, with an estimated municipal population of 201,013 residents. All of the best foreclosed homes for sale in Grand Rapids are located in the following zip code areas on 49546 49507 49506 49505 49504 49503 49508 49501 49502 49514 49515 49523 49555 49588 49599. The estimated population per square kilometer (.62 miles) in Grand Rapids is 1,734.

Cost Of Living In Grand Rapids, MI

So, about how much do homes cost in Grand Rapids? The most recent median value of resident-owned homes in Grand Rapids is 142,966. An estimated 55.4 percent of households in Grand Rapids own their homes, with an average family size of 3.25. The median household income in Grand Rapids is 50,103, with18.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Grand Rapids, the median commute time of resident workers (in minutes) is 19.1. And last, but certainly not least, are you looking for homes to rent in Grand Rapids? If so, the average rent price paid by renters in Grand Rapids is 925, according to recent statistics.

Diversity And Demographics In Grand Rapids, Michigan

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Grand Rapids, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Grand Rapids is 31.4, split between 49.4 percent male versus 50.6 female. The percentage of residents who report being married in Grand Rapids is 36.9, with an average family size of 3.25.

The percentage of residents who report their race in Grand Rapids is as follows:

White 67.2%
Black / African American 18.6%
Asian 2.4%
American Indian / Alaskan Native 0.4%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 5.6%
Other 5.7%

Looking for family-friendly neighborhoods in and/or near Grand Rapids? Or maybe you are searching for 55+ active adult communities in and/or near Grand Rapids?

The percentage of residents who report their age in Grand Rapids is as follows:

Under 10 13%
Aged 10-19 12.5%
20s 21.4%
30s 15.1%
40s 9.9%
50s 10.8%
60s 8.8%
70s 4.7%
80+ 3.6%

Best Schools In Grand Rapids, Michigan

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Grand Rapids with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Grand Rapids.

Pros And Cons Of Living In Grand Rapids, Michigan

How do you know that living in -- or moving to -- Grand Rapids is right where you need to be? Perhaps you grew up in Grand Rapids or already live nearby; therefore, the decision to buy a home in Grand Rapids is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Grand Rapids for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Grand Rapids:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Grand Rapids.

Reasons To Move To Grand Rapids, Michigan, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Grand Rapids can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Grand Rapids, meanwhile, can field multiple offers from more qualified buyers.

Grand Rapids, MI Preforeclosure Homes


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