Grand Rapids housing market is third 'healthiest' among 'big cities'
April 19, 2017
Grand Rapids has the third-“healthiest” housing market when compared to the nation’s “big cities.”
A study by SmartAsset found Grand Rapids to have the No. 3 housing market in its class.
Grand Rapids ranks below Plano and Arlington, Texas.
The measures looked at by SmartAsset include stability, risk, ease of sale and affordability.
Grand Rapids was tops for average days on the market. Grand Rapids homes were on the market an average of 23.9 days, well below the national average of 60.1 days.
Home costs in Grand Rapids average 20.5 percent of a homeowner’s income.
Grand Rapidians spend an average of 12.8 years in their homes.
A little more than 7 percent of homes have negative equity, while 5.9 percent of homes are decreasing in value.