Rental market data · 2024 Census estimates

Grand Rapids, MI rental yield and cash flow

In the Grand Rapids-Wyoming-Kentwood, MI metro, the median owner-occupied home was valued at $316,600 and the median gross rent was $1,289 a month in 2024. That is a gross rent yield of 4.89%, rank 52 of the 100 largest metros we track.

$316,600Median home value (±$5,284)

$1,289Median gross rent / mo (±$36)

4.89%Gross rent yield

20.5Price-to-rent ratio

1.00%Median taxes ÷ median value

25%Renter-occupied homes

0.41%Monthly rent ÷ price (1% rule)

1.18MMetro population

Does the median home cash flow at today's rate?

We priced a hypothetical rental at the metro medians: $316,600 purchase, $1,289 rent, 25% down, a 30-year loan at 7.28% (Freddie Mac's 30-year average for the week of October 1, 2026), $3,180 in annual property taxes, insurance at 0.5% of price, and 5% vacancy, 10% repairs and 8% management.

At these assumptions the median-priced home runs about $1,029 a month short of covering its costs (DSCR 0.37). Rent would need to reach about $2,625, 104% above the median, to break even, or the price would need to be near $106,502 for a 1.25 DSCR. Net operating income is about $7,147 a year, a 2.26% cap rate, against $19,496 of annual debt service.

Investment-property loans usually price above the owner-occupant average this survey reports, and your insurance quote, tax bill and rent will differ from a metro median. Change any input below.

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How Grand Rapids compares

Metros with the nearest gross yields among the 100 we track. * Cash flow uses the same assumptions as above.

Rank	Metro	Median value	Median rent	Gross yield	Price-to-rent	Cash flow / mo*
49	Richmond, VA	$378,100	$1,546	4.91%	20.4	-$1,131
50	Des Moines, IA	$288,400	$1,178	4.90%	20.4	-$1,037
51	Miami, FL	$510,600	$2,083	4.90%	20.4	-$1,584
52	Grand Rapids, MI	$316,600	$1,289	4.89%	20.5	-$1,029
53	Winston, NC	$270,700	$1,102	4.89%	20.5	-$790
54	San Juan, PR	$152,300	$620	4.89%	20.5	-$424
55	Bakersfield, CA	$363,600	$1,479	4.88%	20.5	-$1,143

What these numbers leave out

Census gross rent includes utilities when the tenant pays them, so it can overstate what a landlord collects. Median value describes owner-occupied homes, not the rental stock, and a metro median hides wide neighborhood differences. Treat this page as a screen, then underwrite the specific property.

Sources

U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25064 (median gross rent)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25077 (median value, owner-occupied housing units)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25103 (median real estate taxes paid)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25003 (housing tenure)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B01003 (total population)
Freddie Mac Primary Mortgage Market Survey (30-year fixed average, week of October 1, 2026)

Data snapshot October 7, 2026. Methodology: all metros.