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Grand Rapids city, MI

ZIP 49506 — Housing & Real Estate

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

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 49506

Median Home Value
$338,600
Median Rent
$1,159
Affordability Snapshot
$93,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,175/mo PITI).

12%
Rent-to-Income Ratio

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

3.0x
Home Price-to-Income Ratio

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

24.3 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 49506 in Grand Rapids city, MI, a household would need roughly $93,000 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 $2,175. That sits below the local median household income ($112,287), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
75.9%+16% vs US avg
x
Vacancy Rate
4.4%-57% vs US avg
x
Broadband Access
92.5%+6% vs US avg
x
4+ Bedrooms
7.3%-50% vs US avg
x
Built Pre-1939
8.8%-31% vs US avg
x
Built Post-2014
0.2%-98% vs US avg
x
Rent Burden >30%
13.2%-73% vs US avg
x
Mortgage-Free
29.2%-23% vs US avg
x
$338,600
Home Value
$1,159
Rent
1953
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

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

  • 1-unit detached75.8%
  • 1-unit attached3.9%
  • 2-9 units10.3%
  • 10+ units9.7%
  • Mobile home & other0.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$338,600
Median rent$1,159
Owner-occupied75.9%
Vacant4.4%
Price-to-income3.0x
Est. income to buy$93,000