Grand Rapids, Michigan has an overall cost of living index of 94.1, which is 5.9 points below the US average of 100 — making it more affordable than most American cities. Renters pay a median of $1,191 per month, while the typical home is valued around $225,500. Households earn a median of $65,526 per year, leaving rent at a manageable share of income for many residents. Air quality is good, with an average AQI of 34. The figures below cover housing, local wages by occupation, demographics, and air quality, all drawn from the US Census Bureau, BEA, HUD, and EPA.
Median Household Income
$65,526
Annual · Census ACS
Median Gross Rent
$1,191
Per month · Census ACS
Median Home Value
$225,500
Census ACS
Cost of Living Index
94.1
BEA RPP · US avg = 100
Studio FMR
$1,232
HUD Fair Market Rent
1BR Fair Market Rent
$1,278
HUD FMR
2BR Fair Market Rent
$1,531
HUD FMR
3BR Fair Market Rent
$1,980
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
Each category is indexed to the US average of 100. Below 100 = cheaper than average.
Overall
94.1
Goods
92.1
Rents / Housing
85.8
Services
93.5
Source: BEA Regional Price Parities (metro-level)
State Income Tax
4.25%
Top marginal rate
State Sales Tax
6.00%
Statewide base rate (local add-ons may apply)
Source: Tax Foundation (2024)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | $102,490 |
| 🏥Registered Nurse | $82,140 |
| 📚Elementary Teacher | $67,170 |
| ⚡Electrician | $61,860 |
| 📊Accountant | $80,840 |
Source: BLS OEWS 2023 (metro-level data)
Population
197,768
Latest estimate
Median Age
32.1 yrs
Census ACS
Average AQI
34.0
Source: EPA AirNow
What is the cost of living index for Grand Rapids?
Grand Rapids has a Regional Price Parity (RPP) index of 94.1. The US national average is 100, so Grand Rapids is 5.9 points below the national average.
What is the median rent in Grand Rapids?
The median gross rent in Grand Rapids is $1,191 per month according to US Census ACS data.
What is the median household income in Grand Rapids?
The median household income in Grand Rapids is $65,526 per year.
What is the median home value in Grand Rapids?
The median home value in Grand Rapids is $225,500 based on the latest Census ACS survey.
How is the air quality in Grand Rapids?
Grand Rapids has an average Air Quality Index (AQI) of 34.0, which is rated "Good" by the EPA. Lower AQI values indicate cleaner air.
What are the taxes like in Grand Rapids?
Michigan has a top state income tax rate of 4.25% and a statewide sales tax of 6.00% (local rates may add to this). Source: Tax Foundation, 2024.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology