Hey, that is where I live!
First off, much will depend on which area of GR you want to live in. It is a pretty large city, especially when you take into account all of the suburbs.
Unfortunately, the Grand Rapids Public schools themselves are not the best. But we do have school of choice, you can live in one neighborhood yet send your kids to a different school district.
I am more familiar with the area I live in, which is the west side. I actually live in Wyoming, Mi, and it is a nice area. The city kind of grew to the west, so this area is newer. By newer my parents moved here 35 years ago, and the whole area was fields and trees.
But further west where my sister lives (Hudsonville) has been developed fairly recently. She had her house built there 15 years ago, and the area was mostly farmland at the time. Even now if you drive 5 minutes you will be by fields and farms. The schools are top notch too.
South of us is Byron Center, and while it has newer schools, I wouldn't recommend moving there. Unless you have a super conservative view point.
Depending on the area you pick, you can get a nice house for just over $100,000. Spend $200,000 and you can get a really nice house.
I hope this helps a little. I know our economy isn't the best, but this side of the state has much to recommend it. There are many parks, and I am live only about 45 minutes from Lake Michigan. If you have any specific questions, feel free to PM me.