menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



East Grand Rapids, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

East Grand Rapids, MI Housing Market Trends

With 11,402 people, 3,850 houses or apartments, and a median cost of homes of $656,609, East Grand Rapids house prices are not only among the most expensive in Michigan, East Grand Rapids real estate also is some of the most expensive in all of America.

East Grand Rapids is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in East Grand Rapids than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in East Grand Rapids. Owner-occupied housing accounts for 94.81% of East Grand Rapids's homes, and 76.01% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. East Grand Rapids's housing was primarily built during this period, from the '40s through the '60s. A full 57.95% of the city's housing hails from this era. Other housing ages represented in East Grand Rapids include homes built before 1939 ( 26.00%) and housing constructed between 1970-1999 ( 9.81%). There's also some housing in East Grand Rapids built between 2000 and later ( 6.24%).

East Grand Rapids Home Appreciation Rates

In the last 10 years, East Grand Rapids has experienced some of the highest home appreciation rates of any community in the nation. East Grand Rapids real estate appreciated 128.52% over the last ten years, which is an average annual home appreciation rate of 8.62%, putting East Grand Rapids in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, East Grand Rapids definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in East Grand Rapids that despite a nationwide downturn in the housing market, East Grand Rapids real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Grand Rapids appreciation rates continue to be some of the highest in America, at 6.66%, which is higher than appreciation rates in 70.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Grand Rapids. East Grand Rapids appreciation rates in the latest quarter were at -1.60%, which equates to an annual appreciation rate of -6.24%.

Notably, East Grand Rapids's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that East Grand Rapids's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$656,609

East Grand Rapids, MI Home Prices
> $1,311,000
$984,001 - $1,311,000
$656,001 - $984,000
$524,001 - $656,000
$393,001 - $524,000
$262,001 - $393,000
$131,001 - $262,000
$65,001 - $131,000
$0 - $65,000
9.7%
9.7%
9.7%
9.7%
18.4%
18.4%
25.6%
25.6%
17.7%
17.7%
13.2%
13.2%
3.2%
3.2%
0.5%
0.5%
2.1%
2.1%
0% 100.0%
% of Homes
Very High

for Michigan

Very High

for nation

Number of Homes And Apartments:

3,850

East Grand Rapids Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,016 / per month

Homeownership Rate

Owners
Renters
94.8%
94.8%
5.2%
5.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.1%
1.1%
98.9%
98.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.2%
6.2%
9.8%
9.8%
58.0%
58.0%
26.0%
26.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
96.5%
96.5%
0.6%
0.6%
1.5%
1.5%
1.4%
1.4%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
1.1%
1.1%
10.9%
10.9%
36.5%
36.5%
39.5%
39.5%
12.0%
12.0%
0% 100.0%
% of Homes

Popular Neighborhoods in East Grand Rapids

Zip Codes in East Grand Rapids, MI