The Grand Rapids housing market continues to exhibit steady growth, characterized by rising home values and active development projects. As of March 2026, the median sale price of homes in Grand Rapids reached $304,000, marking a 10% increase from the previous year. Homes are selling swiftly, averaging nine days on the market, with a median sale price per square foot of $215, up 10.8% year-over-year.
Market Trends
According to Zillow, the average home value in Grand Rapids stands at $303,298, reflecting a 2.9% increase over the past year. Homes typically go pending in around 10 days, indicating a competitive market.
Realtor.com reports a median listing price of $322,000, with active listings totaling 703. The median days on market is 33 days, showing a slight increase year-over-year.
New Developments
Several new housing projects are underway to meet the growing demand. The Boston Square Together project, approved in January 2026, plans to add 22 to 25 affordable townhomes in the 1100 block of Adams Street Southeast. This initiative is part of a larger $11 million development aiming to provide up to 270 housing units, along with office and community spaces.
Additionally, the Knapp Hills Townhomes project received approval in February 2026. Located in the Creston neighborhood along the 2000 block of Dean Lake Avenue Northeast, this development will feature 38 townhome units, with eight reserved for households earning 100% of the area median income or less. Construction is expected to be completed in early 2027.
Rental Market
The rental market in Grand Rapids remains robust. Zillow reports an average rent of $1,619 as of March 2026, with a year-over-year increase of 3.3%.
Realtor.com indicates a median rent of $1,800 per month, with 443 rental properties available. The year-over-year change in rent prices is 2.86%, reflecting gradual rent growth.
Conclusion
Grand Rapids’ housing market demonstrates resilience and growth, with rising home values and active development projects. Both buyers and renters should stay informed about these trends to make well-informed decisions in this dynamic market.