Median Home Price
$335,851.05
Median Rent
$1,746.16/mo
Price-to-Rent Ratio
16.0
Property Tax RateTIE
1.54%
Price Change (1Y)
+4.1%
Price Change (5Y)
+20.5%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$109,255
Median Home PriceBETTER
$216,047.91
Median RentBETTER
$1,303.21/mo
Price-to-Rent RatioBETTER
13.8
Property Tax RateTIE
1.54%
Price Change (1Y)BETTER
+4.7%
Price Change (5Y)BETTER
+23.3%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$35,166
Key Differences
Home Prices
Grand Rapids's median home price of $335,851.05 is higher than Lansing's $216,047.91 by 55%.
Monthly Rent
Renting in Grand Rapids costs $1,746.16/mo compared to $1,303.21/mo in Lansing—a difference of $442.95/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.