ZIP 49503
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12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in ZIP 49503 usually run 0.9% below trend in February and 1.4% above it in June, about $35 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 49503 is at its highest level since Zillow's records here began in January 2015.
Rent in ZIP 49503 changed +4.8% over the year to September 2026. Across the 134 Michigan ZIP codes Zillow tracks, the typical change was +4.4%.
From 2019 to 2024, rent in ZIP 49503 rose 32.8% while median household income rose 35.1% ($47,844 to $64,661). Income kept ahead of rent.
Rent in ZIP 49503 is 37% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 5 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($64,661) is $1,617 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,610); a 3-bedroom is $2,080.
2nd cheapest of 5 ZIP codes in Grand Rapids.
From Zillow's monthly rent index (ZORI) for ZIP 49503. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 49503 (Grand Rapids, MI) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 44.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 49503 in Grand Rapids, MI has changed in 5 years
Five years ago, renters in ZIP 49503 in Grand Rapids, MI paid around $1,159 a month. That figure now sits near $1,506, up 29.9% from the 2021 baseline. On the earnings side, the typical household in ZIP 49503 in Grand Rapids, MI now reports about $64,661, up from $52,441 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 49503 in Grand Rapids, MI adding about 2,484 residents over the five-year window, up 6.7% on net. The renter share has risen from 60.9% to 63.8%, with owner-occupied housing accounting for the remainder. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 49503 in Grand Rapids, MI reflects that arc in its own way.
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Tips for renters in ZIP 49503
Last updated: October 17, 2026
ZIP code 49503 covers Grand Rapids, MI. The median rent here is $1,506/mo as of October 2026. A 1-bedroom rents for a median of $1,340/mo. A 2-bedroom rents for a median of $1,610/mo.
At 28% of local median household income ($64,661/yr), ZIP 49503 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.8% over the past year.
Frequently asked questions
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How does ZIP 49503 compare to the rest of Grand Rapids?
At $1,506/mo, rent takes ~28% of ZIP 49503's median household income ($64,661/yr). The standard benchmark is 30%.
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