ZIP Code Market Report
49503 — Grand Rapids, MI
Data through February 2026 · Updated monthly
Avg Home Value
$279,094
▲ 1.5% year-over-year
Month-over-Month
-0.1%
▼ 0.1%
Single Family
$277,320
Condo / Co-op
$290,507
The average home value in the 49503 ZIP code (Grand Rapids, Michigan) is $279,094 as of February 2026. Home prices are rising, up 1.5% compared to last year.
A 3-bedroom home in 49503 is valued at $275,574. 1-bedroom units start around $238,157. Single-family homes average $277,320, while condos average $290,507.
The market in 49503 has a $222,286 spread between bottom-tier homes at $205,621 and top-tier homes at $427,907. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 49503 ZIP code will decrease 0.1% over the next 12 months, bringing the projected average to approximately $278,815. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Montcalm County market area in Michigan. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Montcalm County report.
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Market Snapshot
49503 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $281,111 | $279,367 | $279,094 | ▼ 0.7% |
| Single Family Value | $274,876 | $275,998 | $277,320 | ▲ 0.9% |
Home Values
49503 Home Value Trend
Historical home values for ZIP code 49503. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 49503
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 1 Bedroom | $238,157 |
| 2 Bedrooms | $268,874 |
| 3 Bedrooms | $275,574 |
| 4 Bedrooms | $297,066 |
Property Types
Home Values by Property Type in 49503
How different property types compare in this ZIP code.
All Homes
$279,094
Single Family
$277,320
Condo / Co-op
$290,507
Bottom Tier
$205,621
Top Tier
$427,907
Forecast
12-Month Home Value Forecast for 49503
Zillow projects home values in 49503 will decrease 0.1% over the next year, reaching approximately $278,815.
Current Value
$279,094
Projected Change
-0.1%
▼ 0.1%
Projected Value
$278,815
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 49503 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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