49505Grand Rapids, MI Housing Market
$286,500median sale price
The 49505 zip code, located in Grand Rapids, MI, is currently classified as a balanced market. The median sale price stands at $286,500, representing a +1.6% change year over year. Homes in this area spend an average of 11 days on the market before going under contract. There are currently 19 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 49505 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
99
Last 12 weeks
Days on market
11
Fast-moving
Active listings
19
Sale-to-list
99.2%
Below asking
Market trends
Market analysis for 49505
The 49505 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 99.2% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 49505 have increased +1.6% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 49505 stands at $293,906, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,677 per month. This gives a price-to-rent ratio of approximately 14.6, which suggests that buying may be more cost-effective than renting in this area over the long term. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
32,325
Median income
$67,838/yr
Median age
34.6 years
Owner-occupied
63.4%
College grads
39.6%
Avg commute
20.7 min
Living in 49505
Zip code 49505 is home to approximately 32,325 residents. The median household income is $67,838 per year, which shapes the types of homes and amenities available in the area. With a median age of 34.6 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 63.4% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 39.6% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 20.7 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 49505.
Frequently asked questions about 49505
What is the median home price in 49505?
The current median sale price in 49505 is $286,500, based on recent Redfin transaction data. Prices have changed +1.6% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 49505 a buyer's or seller's market?
The 49505 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 49505?
Zip code 49505 has a population of approximately 32,325 residents. The median household income is $67,838 per year. About 63.4% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 49505?
Properties Incorporated provides comprehensive data for 49505 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 49505 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually. Visit our data sources page to learn more about our data methodology and update schedules.
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