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Grand Rapids city, MI

ZIP 49503 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 49503

Median Home Value
$224,100
Median Rent
$1,110
Affordability Snapshot
$62,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,440/mo PITI).

22%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.6x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

16.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 49503 in Grand Rapids city, MI, a household would need roughly $62,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,440. That is roughly in line with the local median household income ($61,734). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
37.5%-43% vs US avg
x
Vacancy Rate
8.8%-14% vs US avg
x
Broadband Access
89.0%+2% vs US avg
x
4+ Bedrooms
2.6%-83% vs US avg
x
Built Pre-1939
5.7%-56% vs US avg
x
Built Post-2014
0.5%-93% vs US avg
x
Rent Burden >30%
18.7%-62% vs US avg
x
Mortgage-Free
34.9%-9% vs US avg
x
$224,100
Home Value
$1,110
Rent
1938
Year Built
2018
Moved In

Residents have lived here since ~2018 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached38.7%
  • 1-unit attached3.5%
  • 2-9 units28.9%
  • 10+ units28.4%
  • Mobile home & other0.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$224,100
Median rent$1,110
Owner-occupied37.5%
Vacant8.8%
Price-to-income3.6x
Est. income to buy$62,000