Grand Rapids, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Grand Rapids Neighborhoods Since 2000




Grand Rapids, OH Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Grand Rapids Housing Market Information

With a population of 999, 406 total housing units (homes and apartments), and a median house value of $183,732, Grand Rapids real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Grand Rapids, accounting for 72.81% of the village's housing units. Other types of housing that are prevalent in Grand Rapids include duplexes, homes converted to apartments or other small apartment buildings ( 12.67%), mobile homes or trailers ( 9.68%), and a few row houses and other attached homes ( 4.84%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grand Rapids. Owner-occupied housing accounts for 73.73% of Grand Rapids's homes, and 67.51% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Grand Rapids built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Grand Rapids built before 1939 ( 32.49%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.27%). There's also some housing in Grand Rapids built between 2000 and later ( 5.76%).

Grand Rapids Home Appreciation Rates

Real estate appreciation rates in Grand Rapids's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.72% during the period.

Over the last year, Grand Rapids appreciation rates have trailed the rest of the nation. In the last twelve months, Grand Rapids's appreciation rate has been 2.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grand Rapids were at 0.12%, which equates to an annual appreciation rate of 0.47%.

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

Average Home Values

 

Median Home Value:
$183,732

Grand Rapids, OH HOME PRICES

Value Range
> $1,081,000 0.9
$811,001 - $1,081,000 0.0
$540,001 - $811,000 1.3
$432,001 - $540,000 0.7
$325,001 - $432,000 5.3
$216,001 - $325,000 29.2
$108,001 - $216,000 41.0
$54,001 - $108,000 17.1
$0 - $54,000 4.6

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
36.8276104535333 19.6850393700787

Number Of Homes And Apartments:
406

Grand Rapids Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
11.42% 0.63% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$904 / per month

Homeownership Rate

Homeownership
Owners 73.73
Renters 26.27
Vacant 6.45

Housing Market Details

 

Age of Homes

AGE OF Grand Rapids HOMES
2000 or Newer 5.8
1970 - 1999 35.5
1940 - 1969 26.3
1939 or Older 32.5

Types of Homes

TYPE OF Grand Rapids HOMES
Single-Family 72.8
Townhomes 4.8
Small Apt. Buildings 12.7
Apt. Complexes 0.0
Mobile Homes 9.7
Other 0.0

Home Size

SIZE OF Grand Rapids HOMES
No Bedroom 0.00
1 Bedroom 3.23
2 Bedrooms 26.27
3 Bedrooms 50.46
4 Bedrooms 17.05
5 or more bedrooms 3.00

Popular Neighborhoods in Grand Rapids

Zip Codes in Grand Rapids, OH