Grand Rapids, MN housing market
The typical Grand Rapids home is worth about $283,000, up 2.5% in a year, 19% below the Minnesota typical home. Homes typically sell in 41 days, a little above asking.
Home values, sales, trends and how Grand Rapids compares with the towns next door — updated as new data is published.
Grand Rapids at a glance
A seller's market
Supply is tight — about 2.8 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Grand Rapids | Minnesota |
|---|---|---|
| 2017 | $169,000 | $217,000 |
| 2018 | $174,000 | $232,000 |
| 2019 | $182,000 | $246,000 |
| 2020 | $190,000 | $259,000 |
| 2021 | $204,000 | $282,000 |
| 2022 | $236,000 | $313,000 |
| 2023 | $249,000 | $325,000 |
| 2024 | $256,000 | $331,000 |
| 2025 | $271,000 | $341,000 |
| 2026 | $280,000 | $349,000 |
| August 2026 | $283,000 | $351,000 |
145 new homes permitted in 2025
Builders were permitted 145 new homes in Grand Rapids in 2025: 13 single-family houses and 132 in buildings with two or more homes, worth about $25.6 million to build. That's 13 per 1,000 residents, faster than across Minnesota (3.8). Over the past 10 years, Grand Rapids has permitted 412 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Grand Rapids gained 257 residents while 388 new homes were permitted: about 0.7 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across Minnesota: 2.2 new residents per new home.
How Grand Rapids ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 8 | 8 | 0 | $1.7 million |
| 2025 | 145 | 13 | 132 | $25.6 million |
| 2024 | 2 | 2 | 0 | $650,000 |
| 2023 | 10 | 10 | 0 | $3 million |
| 2022 | 5 | 5 | 0 | $1 million |
| 2021 | 6 | 6 | 0 | $1.7 million |
| 2020 | 126 | 14 | 112 | $16.4 million |
| 2019 | 8 | 6 | 2 | $1.2 million |
| 2018 | 12 | 10 | 2 | $1.8 million |
| 2017 | 10 | 8 | 2 | $2.3 million |
| 2016 | 88 | 9 | 79 | $10 million |
| 2015 | 96 | 8 | 88 | $10.8 million |
| 2014 | 53 | 18 | 35 | $5.2 million |
| 2013 | 76 | 11 | 65 | $7.6 million |
| 2012 | 16 | 16 | 0 | $2.5 million |
| 2011 | 14 | 14 | 0 | $2.2 million |
| 2010 | 15 | 15 | 0 | $2.3 million |
| 2009 | 28 | 10 | 18 | $3.3 million |
| 2008 | 21 | 21 | 0 | $2.2 million |
| 2007 | 29 | 29 | 0 | $3.1 million |
| 2006 | 127 | 25 | 102 | $10.6 million |
| 2005 | 24 | 24 | 0 | $3.2 million |
| 2004 | 60 | 34 | 26 | $6.1 million |
| 2003 | 13 | 7 | 6 | $1.6 million |
| 2002 | 24 | 24 | 0 | $2.4 million |
| 2001 | 19 | 17 | 2 | $1.9 million |
| 2000 | 10 | 10 | 0 | $1.6 million |
How Grand Rapids ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Grand Rapids and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Grand Rapids | $283K | +2.5% | $1,130 | 145 | $61,029 |
| Coleraine | $213K | +2% | $1,110 | 4 | $74,716 |
| La Prairie | $258K | 0% | $1,130 | — | $69,375 |
| Harris | — | +5.5%† | $1,130 | — | $79,243 |
| Cohasset | $347K | +1.8% | $980 | 10 | $92,692 |
| Arbo | — | +5.5%† | $1,130 | — | $70,893 |
† FHFA price index change, where Zillow has no home value for the town.
4.6 years of income
The typical Grand Rapids home costs about 4.6 years of the town's median household income, more than across Minnesota (3.9 years).
How Grand Rapids ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,130
HUD's Fair Market Rent for a two-bedroom in Grand Rapids is $1,130 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Grand Rapids pay a median of $1,090. A two-bedroom takes about 22% of the town's median household income.
Studio $790 · 4 bedrooms $1,600
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55744; Itasca County, MN), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.