Kent County · Michigan · Midwest · 199k residents
Grand Rapids, MI: economy, jobs & business costs
The site-selection read on Grand Rapids: labor costs, talent, corporate tax, energy, and business activity, with the Michigan median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
Average weekly wages in the surrounding labor market run $1,246/wk. Michigan's corporate income tax rate is 6%. Commercial electricity averages 14.0¢/kWh.
Compare Grand Rapids side by side
Avg. weekly wage
$1,246/wk
Corporate income tax
6%
Bachelor's degree or higher
41.6%
Commercial electricity
14.0¢/kWh
Economic momentum
How fast Grand Rapids's economy is moving, ranked against the US cities we track.
50/100
Steady
Ranks Grand Rapids's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| Median home value | $290,000 |
| Price per sq. ft. | $185 |
| Property tax rate | 1.6% |
| 1-bedroom rent | $1,250/mo |
| 2-bedroom rent | $1,500/mo |
| State & local income tax | 5.75% |
| Sales tax | 6% |
| Corporate income tax | 6% |
| Avg. weekly wage | $1,246/wk |
| Bachelor's degree or higher | 41.6% |
| Commercial electricity | 14.0¢/kWh |
| Businesses per 1k residents | 27.5/1k |
| Wage: Software developer | $107,520 |
| Wage: Registered nurse | $83,920 |
| Wage: General manager | $101,720 |
| Wage: Customer service | $44,990 |
| Wage: Warehouse worker | $35,840 |
| Wage: Heavy truck driver | $58,270 |
| Wage: Electrician | $62,240 |
| Wage: Retail salesperson | $34,800 |
| Cost of living index | 92 |
| Groceries index | 96 |
| Utilities | $160/mo |
| Transit pass | $50/mo |
| Gas price | $3.15/gal |
| Healthcare index | 97 |
| Childcare (per child) | $1,200/mo |
| Median household income | $65,000 |
| Unemployment rate | 3.5% |
| Population | 199k |
| Crime index | 44/100 |
| School rating | 6.0/10 |
| Walkability | 48/100 |
| Disaster risk | 92/100 |
| Avg. commute | 21 min |
| Sunny days / year | 158 days |
| July high | 82°F |
| January low | 17°F |
| Annual snowfall | 75 in |
| Home price YoY | +2.7% |
| Home price MoM | -0.1% |
| Rent YoY | +2.5% |
| Rent MoM | +0.2% |
| Employment (jobs) YoY | +0.4% |
| Building permits YoY | -6.8% |
| Ocean coast | 626 mi |
| Big lake | 30 mi |
| Mountains | 436 mi |
| Major airport | 10 mi |
| Ski resort | 108 mi |
Popular comparisons
Nearby
- Walker, MI · 25k
- Wyoming, MI · 77k
- Northview, MI · 15k
- Grandville, MI · 16k
- Kentwood, MI · 54k
Similar size
- Warren, MI · 138k
- Sterling Heights, MI · 134k
- Ann Arbor, MI · 122k
- Lansing, MI · 113k
- Dearborn, MI · 107k
Real listings in Grand Rapids
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Grand Rapids a good place to run a business?
- Michigan's corporate income tax rate is 6%; average weekly wages in the surrounding labor market run $1,246/wk; commercial electricity averages 14.0¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Grand Rapids, MI?
- Grand Rapids indexes at 92 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,500/mo and a median home value of $290,000.
- How much does a house cost in Grand Rapids?
- The median home value in Grand Rapids is $290,000 (compiled estimate; individual listings vary).
- How much is rent in Grand Rapids?
- A two-bedroom in Grand Rapids rents for about $1,500/mo.