Supply, demand and rent?

In Grand Rapids, 98% of apartments are occupied, which is up 1.2% from last year and 1.7% higher than the national average. The Grand Rapids area economy experienced a near 10% loss of employment growth in 2020, but that has rebounded with the most recent job growth reported by the Bureau of Labor Statistics in May, which showed 15.5% growth in jobs. More than 70% of all existing mortgage originations on single-family homes have been to a borrower with a credit score over 760, while less than 2% have been to a borrower with a credit score less than 620, according to Equifax.

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