housing

UPDATE 2023-09-19: Any proposed zoning reforms are now not expected to be heard until January, 2024. 🙄

UPDATE 2023-07-26: In comments related to the adoption of two city ordinances related to the unhoused population 2nd Ward Commissioner Knight made positive references to the zoning reforms; specifically to the number of unrelated persons allowed to live at a single address as well as more people being able to build accessory dwelling units.

UPDATE 2023-11-13: Related to 210 Fairbanks / 628 Coit Ave N - Resolution authorizing conditional approval of tax exemption and payment in lieu of taxes (PILOT) – Union Suites on Coit II, City Commission agenda, 2023-11-14

Time to check the data again.

ZORI (Observed Rents)

A 12 month increase of $157/mo (+9.2%).

The update of the Housing NEXT needs assessment has been released.

Document @ Housing Needs Assessment | Grand Rapids/Kent County, MI 2022 [PDF, 172 pages]

Starting to see a few headlines like "Rents Slide by Largest Amount in at Least 7 Years"! So is it here? Despite all other indicators - low vacancy, high employment, etc... - is the zenith of rents behind us? Let's check the data.

Some maps flew around social media of housing costs by county. Those maps used the Median MLS Listing Price divided by the county's median income to calculate the years-to-buy metric. The years-to-buy metric is a common way to correlate housing prices to regional income. Unfortunately the low granularity of county level data hides a great deal of variability.

UPDATE 2025-01-18: See updated (2025) housing affordability tables @ Affordability Tables 2025

Related:

• Where rent is most, least affordable in Michigan, MLIVE 2023-06-24