NAICS 52
Finance and Insurance in Grand Rapids-Wyoming-Kentwood, MI
Metro Market Score 47.8 (Moderate), ranked #158 of 331 metros. 1,647 establishments, 18,990 jobs.
Metro Market Assessment
Metro Market Score 47.8
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Moderate
Lower is better. Relative to national finance and insurance average.
Rapid Growth
Grand Rapids-Wyoming-Kentwood ranks in the upper half for finance and insurance market conditions, driven by above-average employment growth. With a market score of 47.8, conditions are relatively favorable compared to most metros.
Industry Concentration
72.8
LQ: 0.79
Rank #241 of 331 metros
Wage Competitiveness
67.4
$96,059 avg wage
Growth Trend
↑ 90.9
Employment growth index
Rank #31 of 331 metros
Wage Pressure
50.1
YoY wage change index
1,647 Finance and Insurance Firms in Grand Rapids-Wyoming-Kentwood
1,647
Establishments
+0.5% YoY
18,990
Total Employment
+5.6% YoY
$96,059
Average Annual Wage
+7.8% YoY
0.79
Location Quotient
Below national avg
Grand Rapids-Wyoming-Kentwood vs Michigan Statewide
How this metro's finance and insurance market compares to Michigan overall. The state ranks #23/51 for entry risk.
| Measure | Grand Rapids-Wyoming-Kentwood | MI Statewide |
|---|---|---|
| Overall Score | 47.8 Moderate | 49.8 Elevated |
| Score Type | Metro Market Score | Entry Risk Score |
| Rank | #158 of 331 metros | #23 of 51 states |
Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.
Other Industries in Grand Rapids-Wyoming-Kentwood
Finance and Insurance in Other Michigan Metros
Data Sources
- Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Grand Rapids-Wyoming-Kentwood, MI MSA area.
Data period: 2024. Last updated: April 2026.