ZIP Code Market Report
49505 — Grand Rapids, MI
Data through February 2026 · Updated monthly
Avg Home Value
$292,715
▲ 2.5% year-over-year
Month-over-Month
-0.1%
▼ 0.1%
Single Family
$288,314
Condo / Co-op
$351,106
The average home value in the 49505 ZIP code (Grand Rapids, MICHIGAN) is $292,715 as of February 2026. Home prices are rising, up 2.5% compared to last year.
A 3-bedroom home in 49505 is valued at $298,438. Single-family homes average $288,314, while condos average $351,106.
The market in 49505 has a $132,349 spread between bottom-tier homes at $239,843 and top-tier homes at $372,192. 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 49505 ZIP code will increase 0.0% over the next 12 months. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Ottawa County market area in MICHIGAN. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Ottawa County report.
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Market Snapshot
49505 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 | $294,900 | $293,113 | $292,715 | ▼ 0.7% |
| Single Family Value | $284,906 | $286,733 | $288,314 | ▲ 1.2% |
Home Values
49505 Home Value Trend
Historical home values for ZIP code 49505. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 49505
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 2 Bedrooms | $259,696 |
| 3 Bedrooms | $298,438 |
| 4 Bedrooms | $336,938 |
Property Types
Home Values by Property Type in 49505
How different property types compare in this ZIP code.
All Homes
$292,715
Single Family
$288,314
Condo / Co-op
$351,106
Bottom Tier
$239,843
Top Tier
$372,192
Forecast
12-Month Home Value Forecast for 49505
Zillow projects home values in 49505 will increase 0.0% over the next year.
Current Value
$292,715
Projected Change
0.0%
▲ 0.0%
Projected Value
--
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 49505 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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