The story of this market
The typical home in ZIP 49506 sells for about $399,000, or $215 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 39 days to sell. HUD's fair market rent for a two-bedroom is $1,359 a month.
ZIP 49506 — Grand Rapids
The 49506 housing market is characterized by high demand and limited inventory, leading to competitive bidding and steady price appreciation. Buyers are prioritizing well-maintained homes in established neighborhoods, supported by the area's strong school reputation and economic stability.
This area is ideal for families seeking high-quality schools, professionals commuting to Grand Rapids, and those who value a mix of historic charm and modern amenities.
Median prices moved up 4.2% year over year.
Homes spend a median of 39 days on market with 2.4 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 100.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.1% · poverty 7.7% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 49506, Kent County MI
Crime rates in the 49506 area are generally considered moderate, with property crime being the primary concern compared to regional averages in Kent County.
The area is served by highly regarded public school districts, including East Grand Rapids Public Schools, which consistently receive top-tier ratings for academic performance.
The region faces standard Midwestern climate risks, including seasonal severe thunderstorms and winter weather; flood risk is localized to specific low-lying areas near water bodies.
Economic momentum is driven by the proximity to the Grand Rapids medical and educational hubs, with ongoing residential infill and commercial revitalization projects.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Michigan) — Disabled Veterans Homestead Exemption: Provides an exemption from property taxes levied for school operating purposes and potentially other local taxes depending on eligibility. State (Michigan) — General Property Tax Act: Property is assessed at 50% of true cash value (State Equalized Value). Taxable value is capped at the lesser of the state equalized value or the previous year's taxable value adjusted by the consumer price index (up to 5%), unless a transfer of ownership occurs.
Residents benefit from direct access to major thoroughfares like I-196 and I-96, providing efficient transit to downtown Grand Rapids and surrounding employment centers.
The ZIP code features extensive access to Reeds Lake, numerous community parks, and the vibrant shopping and dining districts of Gaslight Village.
The rental market is competitive with low vacancy rates, driven by demand from students and young professionals seeking proximity to the city center.
The economy is anchored by healthcare, education, and manufacturing sectors in the greater Grand Rapids area, providing a stable employment base.
The area is well-served by regional highway networks and local bus transit, facilitating easy access to the broader metropolitan area.
Development is focused on sustainable infill projects and the modernization of existing commercial corridors.
The Kent County Bureau of Equalization oversees property assessments, ensuring compliance with state-mandated valuation standards.
Parcels are subject to local school district taxes and county-wide service levies.
Property insurance premiums are stable, reflecting the area's moderate risk profile for natural disasters.
The state continues to see modest net domestic migration, with urban centers like Grand Rapids attracting new residents.
Michigan operates as a judicial foreclosure state, providing specific notice and redemption periods for homeowners.
Sellers are required to provide a comprehensive property disclosure statement detailing the condition of the home.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Craig's Cruisers - Grand Rapids4.46.6 mi
- Dave & Buster's Kentwood4.12.7 mi
- Sky Zone Grand Rapids4.22.8 mi
- Main Event Grand Rapids4.22 mi
- Rebounderz Grand Rapids - Indoor Trampoline and Adventure Park4.49.5 mi
- Frederik Meijer Gardens & Sculpture Park4.83 mi
- Van Andel Arena4.53.4 mi
- DeVos Place4.53.7 mi
- Grand Rapids Downtown Market4.63.2 mi
- Founders Brewing Co4.33.4 mi
- Frederik Meijer Gardens & Sculpture Park4.83 mi
- John Ball Zoo4.64.9 mi
- Millennium Park4.77.1 mi
- Celebration! Cinema4.54.2 mi
- Grand Rapids Public Museum4.73.8 mi
- Frederik Meijer Gardens & Sculpture Park4.83 mi
- Grand Rapids Public Museum4.73.8 mi
- Grand Rapids Children's Museum4.63.3 mi
- Grand Rapids Art Museum4.63.5 mi
- The Gerald R. Ford Presidential Museum4.73.9 mi
- Frederik Meijer Gardens & Sculpture Park4.83 mi
- Millennium Park4.77.1 mi
- Riverside Park4.65.7 mi
- Belknap Park4.64 mi
- Rosa Parks Circle4.63.5 mi
- Murray Lake Marina4.413.4 mi
- Reeds Lake4.70.8 mi
- Reeds Lake4.70.8 mi
- Mines Golf Club4.35.5 mi
- Thornapple Pointe Golf Club4.57.6 mi
- Watermark Country Club4.63.9 mi
- Quail Ridge Golf Club48 mi
- Gimme's Par and Grill4.83.5 mi
- Woodland Mall4.32.1 mi
- Tanger Outlets Grand Rapids4.49.6 mi
- RiverTown Crossings4.48.5 mi
- Grand Rapids Downtown Market4.63.2 mi
- Horrocks Market4.64.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A popular destination for boating, fishing, and walking trails.
A central hub for local retail and restaurants.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.