zori

Data Point: 2025-11, The ZORI (Sept 2025)

Recent data (up through September 2025) demonstrates a softening of rent growths. Rents increased 3% in 2024 - 2025 after a growth of 4% in 2023 - 2024 and a growth of 3% in 2022 - 2023; this is significant decline in growth from the inflationary years of 2020 - 2022 with growth rates of 12% and 10% respectively.

Year 2015-09 2016-09 2017-09 2018-09 2019-09 2020-09 2021-09 2022-09 2023-09 2024-09 2025-09
Rent $891 $960 $1,036 $1,081 $1,129 $1,182 $1,321 $1,448 $1,497 $1,562 $1,606
Increase $ - +$69 +$76 +$45 +$48 +$53 +$139 +$127 +$49 +$65 +$44
Increase % - +8% +8% +4% +4% +5% +12% +10% +3% +4% +3%

% Change
Rents

Data Point: ZORI 2025-06 (City vs. MSA)

It has been roughly six months since we last looked at the ZORI (Zillow Observed Rent Index) 👉here👈 where we compared across the cities of the Midwest. Here is a chart from the current data showing the value for the City of Grand Rapids vs. the Census Bureau's "Metropolitan Statistical Area" (MSA).

Data Point: zORI In 2024 (Midwest)

2015 - 2024

How as Grand Rapids' rent changed in the last ten years?

Data Point: 2024-10-29, Revisting The ZORI

The ZORI is the Zillow Observed Rent Index from, you guessed it, Zillow, Zillow provides a variety of data at their Data page. We periodically check in on the ZORI to see what it says about rents in Grand Rapids.

Data Point: 2023-08, The ZORI & For-Sale

Time to check the data again.


Rents

ZORI (Observed Rents)

A 12 month increase (July 2022 - 2023), for Grand Rapids, of $91/mo (+6.24%). The observed rent for Grand Rapids in July 2023 was $1460/mo.

Data Point: 2023-01, The ZORI & For-Sale

Time to check the data again.


ZORI (Observed Rents)

A 12 month increase of $157/mo (+9.2%).

Data Point: 2022-12-19, The ZORI (Nov 2022)

Starting to see a few headlines like "Rents Slide by Largest Amount in at Least 7 Years"! So is it here? Despite all other indicators - low vacancy, high employment, etc... - is the zenith of rents behind us? Let's check the data.

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