Real Estate

Grand Rapids housing market is third 'healthiest' among 'big cities'

April 18, 2017
| By Pat Evans |
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Nation's fifth-largest CU mortgage
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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

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.

On the index, Grand Rapids scored 93.84, one of three markets to score above 90.

Top 10

1.   Plano, Texas
2.   Arlington, Texas
3.   Grand Rapids
4.   Pittsburgh
5.   Fremont, California
6.   Grand Prairie, Texas
7.   Vancouver, Washington
8.   Irving, Texas
9.   Denver
10. Huntington Beach, California

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