Grand Rapids Economic Update

Grand Rapids, Michigan is not your normal Midwestern city. It has more to offer local residents than almost any city in the state, or Indiana for that matter. With its close proximity to Lake Michigan, local ski resorts and Silver Lake Dunes, there is something for everyone who loves the outdoors. For those who like staying close to town, there is an abundance of activities that would take a small book in order to list them all. Add in the booming economy and projected economic growth and you have anything a new homeowner or entrepreneur would want.

Growing Industries

For the last several years, Grand Rapids has been steadily climbing when it comes to the numbers associated with economic growth and development. The last two years has found Grand Rapids firmly entrenched in the number 3 spot when it comes to solid economic growth. The health care and biotech industries are supplying most of the force, there is an extremely diverse manufacturing base that includes Steelcase and the Wolverine plant that is a few miles north in Cedar Springs.

Housing Affordability

According to Forbes , Grand Rapids ranks 7th out of the top 100 large metropolises in the country for housing affordability, with the Cost of Living ranking of 6th. The median household income for the Grand Rapids area is just under $42,000 per year. Commute times are also extremely low due to how well the city is laid out. There are only a few areas that see congestion on a regular basis and both are easily avoided. No matter where you choose to buy a home in the greater Grand Rapids area, your commute will not be a major issue.

Living the Life

Moving to Grand Rapids is the ideal choice for individuals and families who like to stay active and be part of the community. From the Annual Art Prize Festival to the Jazz Fest at Rosa Parks Circle, there is always something going on. The Griffins and the White Caps are also huge attractions for sporting fans. If education is what you are looking for, visit the John Ball Zoo and the Meijer Gardens. There is never a dull moment. All you have to do is venture out your front door and explore the city.

Benefits of Living in a Little Big Town

Many people who look to Grand Rapids as a possible place to buy a home, often do so because of all the city has to offer. Not only is it economically diverse and have the opportunity for continued growth, residents of the area are firm supporters of solid family values and a true sense of value within the communities.

All of this is why Grand Rapids has earned the number 3 ranking in the country. Keep your eyes open, because with all that the city has to offer it will continue to rise to the top.