Is Renting In Grand Rapids As Hard As In New York City?
As a 25-year-old working his first big-boy job here in Downtown Grand Rapids after graduating from college, I know firsthand that finding a place to live downtown can be difficult, and finding an affordable place can be even harder.
Then, if you do find a great place, getting put on a waiting list with many other people also looking for that spot can be demoralizing. If you've had these struggles, it seems you're not alone. A new report has found that Grand Rapids is one of the worst cities for renters in the country, ranking just behind two of New York City's most iconic cities.
A Little For A Lot
New York City is notoriously known for being one of the hardest places for renters in the country. With a population density of 29,302/sq miles, finding adequate housing can be very difficult. Grand Rapids, according to this report by the New York Times, is the 11th worst city for renters behind Brooklyn (10) and Manhattan (9).
What Makes GR A Bad City For Renters?
RentCafe found the Top 20 Most Competitive Rental Markets in 2024 using the following five metrics to determine their list of cities:
- Occupancy and lease renewal rates
- Average days vacant
- Prospective renters per vacant units
- Share of newly constructed units.
The number of prospective renters per vacant unit brought Michigan so high up on this list. Grand Rapids and Detroit (12) both have an average of 10 people waiting for a vacant unit at any given time. Grand Rapids also has an estimated 95.3% of all apartments occupied, creating a supply and demand issue for housing. Lansing-Ann Arbor (17) also appeared on this list with 8 people. That's three Michigan cities in the top 20.
What City Is The Worst
After many years of holding the title "Worst City For Renters," Miami (2) has been surpassed by a different Midwest city: Chicago. Suburban Chicago (1) and Chicago (5) rank the highest out of 137 cities studied, with 16 and 14 potential renters per unit each.
You can read the entire Top 20 Most Competitive Rental Markets Peak Season 2024 report detailing more about Grand Rapids' rental metrics as well as the other top 19 cities here.
Grand Rapids Former Fire Station Remodeled into Modern Apartments Has Hit Market
Gallery Credit: Janna
