Ann Arbor, MI vs Grand Rapids-Wyoming, MI
A 2-bedroom in Grand Rapids-Wyoming costs $125 less per month than Ann Arbor ($1,531 vs $1,656). Median income is $87,156 in Ann Arbor and $80,296 in Grand Rapids-Wyoming. That's a difference of $1,500 per year in housing costs.
Side-by-Side Comparison
| Metric | Ann Arbor | Grand Rapids-Wyoming |
|---|---|---|
| Studio FMR | $1,365 | $1,232 |
| 1BR FMR | $1,387 | $1,278 |
| 2BR FMR | $1,656 | $1,531 |
| 3BR FMR | $1,986 | $1,980 |
| 4BR FMR | $2,193 | $2,189 |
| Median Income | $87,156 | $80,296 |
| Rent Burden | 22.8% | 22.9% |
| Actual Median Rent | $1,400 | $1,138 |
| Median Home Value | $353,000 | $261,600 |
| Population | 368K | 1.2M |
| Renter % | 38.4% | 25.7% |
| Vacancy Rate | 5.6% | 5.9% |
| Poverty Rate | 13.8% | 9.9% |
| YoY Change | +12.6% | +11.8% |
| Min Wage | $12.48/hr | $12.48/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Grand Rapids-Wyoming, MI is more affordable with a 2BR FMR of $1,531/mo, which is $125 less than Ann Arbor at $1,656/mo. However, when considering local incomes, Ann Arbor has a rent burden of 22.8% vs 22.9% in Grand Rapids-Wyoming.
A 2-bedroom in Ann Arbor, MI costs $1,656/mo at Fair Market Rent, while in Grand Rapids-Wyoming, MI it's $1,531/mo, a difference of $125/mo or $1,500/year.
To afford a 2BR without spending more than 30% of income on rent: Ann Arbor requires $66,240/year ($32/hr). Grand Rapids-Wyoming requires $61,240/year ($29/hr).