The story of this market
The typical home in ZIP 49507 sells for about $274,000, or $205 per square foot.
Prices are up +16.5% from a year ago, so sellers still have some momentum. Homes take about 27 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,108 a month.
ZIP 49507 — Grand Rapids
The 49507 housing market is experiencing steady growth with a 16.5% year-over-year increase in median home prices, reflecting high demand for entry-level urban housing. While inventory remains tight, the market is somewhat competitive, driven by buyers seeking affordability within the Grand Rapids metro area. Current conditions suggest a stable outlook as the area continues to benefit from regional economic stability.
This ZIP is well-suited for first-time homebuyers and investors seeking entry-level housing in an urban environment, as well as renters looking for proximity to the city center.
Median prices moved up 16.5% year over year.
Homes spend a median of 27 days on market with 2.1 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.5% · poverty 22.6% — a mixed stability 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 12.0%/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 11.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 49507, Kent County MI
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the 49507 area are generally higher than the national average, with property and violent crime trends remaining a primary focus for local law enforcement in the Grand Rapids metro region.
The area is served by Grand Rapids Public Schools, which faces ongoing challenges with academic performance metrics and resource allocation compared to suburban districts in Kent County.
The region is primarily at risk for severe winter weather and occasional wind damage, with standard flood risks associated with the Grand River watershed; insurance premiums are generally stable but sensitive to regional weather patterns.
Economic momentum is driven by the broader Grand Rapids manufacturing and healthcare sectors, with ongoing urban infill projects and residential renovations occurring throughout the Southeast End.
Property taxes are assessed by Kent County and the City of Grand Rapids, utilizing a millage-based system that includes local school district levies and municipal service assessments.
Residents benefit from proximity to US-131 and I-196, providing direct access to the downtown Grand Rapids employment core, typically within a 10-15 minute drive.
The area features several local parks including Mulick Park and proximity to the larger green spaces of the Grand Rapids park system, with neighborhood-level shopping and dining corridors along Eastern and Burton Streets.
The rental market is characterized by high demand and low vacancy rates, driven by a mix of long-term residents and students, with steady upward pressure on monthly asking rents.
The economy is anchored by the Grand Rapids metro area's diverse industrial base, including healthcare, manufacturing, and education sectors.
The area is served by The Rapid bus system, providing connectivity to the broader Grand Rapids transit network and major employment hubs.
Development is focused on urban revitalization and the rehabilitation of existing housing stock rather than large-scale new construction.
The Kent County Bureau of Equalization oversees property assessments, ensuring compliance with state-mandated valuation standards.
Parcels are subject to Grand Rapids Public Schools district taxes and municipal service districts for water, sewer, and waste management.
Property insurance remains stable, though homeowners should account for regional risks related to severe weather events common in West Michigan.
Data retrieved from Census Reporter and ACS 5-year summary 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 Rapids4.44.9 mi
- Dave & Buster's Kentwood4.14.1 mi
- Sky Zone Grand Rapids4.24.1 mi
- Main Event Grand Rapids4.23.3 mi
- Rebounderz Grand Rapids - Indoor Trampoline and Adventure Park4.47.1 mi
- Frederik Meijer Gardens & Sculpture Park4.85 mi
- Van Andel Arena4.52.6 mi
- DeVos Place4.53 mi
- Grand Rapids Downtown Market4.62.1 mi
- Founders Brewing Co4.32.4 mi
- Frederik Meijer Gardens & Sculpture Park4.85 mi
- John Ball Zoo4.63.4 mi
- Millennium Park4.74.9 mi
- Celebration! Cinema4.55.9 mi
- Grand Rapids Public Museum4.72.9 mi
- Frederik Meijer Gardens & Sculpture Park4.85 mi
- Grand Rapids Public Museum4.72.9 mi
- Grand Rapids Children's Museum4.62.6 mi
- Grand Rapids Art Museum4.62.7 mi
- The Gerald R. Ford Presidential Museum4.73.1 mi
- Frederik Meijer Gardens & Sculpture Park4.85 mi
- Millennium Park4.74.9 mi
- Riverside Park4.65.9 mi
- Belknap Park4.63.8 mi
- Rosa Parks Circle4.62.8 mi
- Murray Lake Marina4.415.8 mi
- Reeds Lake4.73.1 mi
- Mines Golf Club4.33.8 mi
- Thornapple Pointe Golf Club4.59.1 mi
- Watermark Country Club4.66.1 mi
- Quail Ridge Golf Club410 mi
- Gimme's Par and Grill4.82.7 mi
- Woodland Mall4.33.4 mi
- Tanger Outlets Grand Rapids4.48.2 mi
- RiverTown Crossings4.46.2 mi
- Grand Rapids Downtown Market4.62.1 mi
- Horrocks Market4.64 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A central neighborhood park providing green space and recreational facilities.
A primary commercial artery featuring local businesses and dining options.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.