KPI 2:
Rental Housing Affordability
Renters are spending $400 per month more than they can afford.
Source: Median Gross Rent (American Community Survey 1-Year Estimates, Kent County, MI) and Bureau of Labor Statistics’ Occupational Employment and Wage Statistics (Median Wage, Grand Rapids MSA)
A typical apartment costs
which requires an income of
The median annual wage is
Affordability has plummeted due to rent hikes.
Our Rental Affordability Index calculates the income needed to afford a typical apartment and compares it to the median annual wage. As of 2019, the median wage is no longer enough. Once an affordable alternative to homeownership, renting has become perilous—nearly half of Kent County renters (46%) are cost-burdened, paying more than 30% of their incomes toward housing.
Source: Median Wage (Bureau of Labor Statistics, Grand Rapids MSA) and consumer spending on utilities (US Energy Information Administration) / Median Gross Rent (American Community Survey 1-Year Estimates)
Affordable rent has nearly disappeared across the County
We’re applying our Rental Affordability Index to rental housing data across Kent County. Check back soon to explore affordability in your community.
Equity Analysis
Rapidly rising rents have had a greater impact on households of color. Stark differences in household incomes across racial and ethnic lines persist, forcing a larger share of Black and Hispanic or Latino renters to pay more than they can afford in rent.
About the data: Cost-burdened is defined as spending more than 30% of gross income on housing costs. Severely cost-burdened is defined as spending more than 50%.
Source: Housing Kent tabulations of American Community Survey Public Use Microdata Sample (2017-2021)
Why Do We Track Rental Housing Affordability?
See all the KPIs
KPI 1: Homeownership Affordability
It used to be that earning the median wage was more than enough to purchase a home. That’s no longer the case. KPI 1 digs deeper into this measure.
KPI 3: Homelessness
Eroding housing affordability has caused a spike in homelessness across Kent County. Explore the story with KPI 3.
The Metric Library
Browse the full list of housing metrics we track with the Housing Metric Library.