Market Overview
Home Prices in Grand Rapids, MN
The median home value in Grand Rapids, MN is $284,617 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.7% compared to a year ago and up 4.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Grand Rapids are priced31% below average. Grand Rapids is part of the Grand Rapids, MN metro area.
Over the past five years, Grand Rapids home values have risen by approximately29.4%, reflecting strong long-term appreciation in this market.
Price History
Grand Rapids Home Price Trend
City Comparison
Grand Rapids vs. National Median
At $284,617, homes in Grand Rapids cost 31% below the national median of $410,000. This makes Grand Rapids a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Grand Rapids?
20% Down Payment
$56,923
on $284,617
Monthly P&I
$1,484/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,885/mo
incl. taxes & insurance
Income Needed
$75,400
gross annual (30% rule)
10% Down Option
$28,462
+ PMI applies
Loan Amount (20% dn)
$227,694
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Grand Rapids, MN?
The median home value in Grand Rapids is $284,617 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.7% year-over-year.
How much have home prices changed in Grand Rapids?
Over the past year, home values in Grand Rapids have increased by 2.7%. Over five years, prices have risen approximately 29.4%.
How much do I need to earn to buy a home in Grand Rapids?
To comfortably afford the median home price of $284,617 with a 20% down payment ($56,923) at today's rates (6.8%), you'd need a gross annual income of approximately $75,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Grand Rapids compare to the national average home price?
The national median home value is approximately $410,000. At $284,617, homes in Grand Rapids are 31% below the national average.
What metro area is Grand Rapids part of?
Grand Rapids is part of the Grand Rapids, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.