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Grand Rapids Mi Homes - Buying Grand Rapids, MI Homes

city economy median housing

Grand Rapids is the second-largest city in Michigan, having a population of 197,800. It is the seat of Kent County and is positioned on the Grand River. The city known for its beautiful downtown skyline and is nicknamed “Furniture City” because that was once the primary source of the city’s economy. The city was first settled in 1825, and the following year, the official founder built a blacksmith shop and trading post stocked with supplies from Detroit. The village of Grand Rapids was officially incorporated in 1838. The furniture business in the city died in the 1960s and since, it has developed a diversified economy.

The city officially has 73,217 households occupying 77,960 total housing units. This leaves about 3,000 to 3,500 Grand Rapids, MI homes on the market at any given time. Like many areas in the Midwest, housing is inexpensive, but in-line with the income and cost-of-living for the area. The median price of homes for sale stays between $100,000 and $125,000. In addition to the homes for sale, the housing glut keeps 1,500 to 2,000 foreclosures on the market. Foreclosure properties sell at a median price of $80,000. The median household income for the city is $37,224.

Transportation to and from Grand Rapids, MI homes is provided by I-96, running along the northern part of the city, and I-196, running east-west through the city. US-131 provides a north-south freeway, and a large number of state highways go through the city. Bus service is provided for public transportation. The city also has an Amtrak station and is home to Gerald R. Ford International Airport.

Although a few furniture manufacturers remain in the city, recently Grand Rapids has turned to health sciences for their economy. The Van Andel Research Institute is one of the top cancer research centers in the country. Other institutions include the Cook-DeVos Center for Health Sciences and the Michigan State University Medical School. Besides medicine, a number of other businesses are headquartered in the city, including Amway, Spartan Stores, Meijer, and GE Aviation.

Education for those who reside in Grand Rapids, MI homes is served by Grand Rapids Public Schools, as well as a number of charter schools and Catholic institutions.

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