ZIP Code · MI

ZIP 49504

Part of Grand Rapids, MI

Pop. 40,036·Kent County·98th most expensive ZIP in Michigan

Median rent (all units)

$1,384/mo

Year-over-Year

+4.5%

Month-over-Month

+0.6%

vs US Median

-$548

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 49504 · $1,384

More affordable than 81% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,150

1 BR

$1,190

2 BR

$1,430

3 BR

$1,850

4 BR+

$2,040

Research median

$1,430/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 49504 usually run 1.3% below trend in January and 1.5% above it in July, about $39 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 49504 is at its highest level since Zillow's records here began in January 2015.

Past year vs. the rest of Michigan

Rent in ZIP 49504 changed +4.5% over the year to September 2026. Across the 134 Michigan ZIP codes Zillow tracks, the typical change was +4.4%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 49504 rose 42.5% while median household income rose 37.4% ($51,048 to $70,119). Rent outpaced income.

Since before the pandemic

Rent in ZIP 49504 is 51.1% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 7 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($70,119) is $1,753 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,430); a 3-bedroom is $1,850.

Rank in Grand Rapids

1st cheapest of 5 ZIP codes in Grand Rapids.

From Zillow's monthly rent index (ZORI) for ZIP 49504. 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.

Annual cost

$16,608/yr

At $1,384/mo median

Location

CityGrand Rapids

StateMI

CountyKent County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.5% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 49504 (Grand Rapids, MI) is majority owner-occupied, skews toward younger working-age adults, 39.9% of residents hold a bachelor's degree or higher.

Population

40,036

Median income

$70,119

Median age

32.4

Renters

43.1%

Age distribution

17.7%

36.1%

22%

14.1%

Under 1817.7%

18–3436.1%

35–5422%

55–6410.1%

65+14.1%

Gender

48.8%

51.2%

Male48.8%

Female51.2%

Race & ethnicity

73.4%

15.3%

White73.4%

Black8.7%

Hispanic15.3%

Asian1.7%

Other0.8%

Education (25+)

23.2%

27.1%

39.9%

No HS diploma9.8%

HS diploma23.2%

Some college27.1%

Bachelor's+39.9%

Housing tenure

56.9%

43.1%

Owner56.9%

Renter43.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 49504 in Grand Rapids, MI has changed in 5 years

Rent

$988 → $1,384

up 40.1%

Income

$57,413 → $70,119

up 22.1%

Population

40,516 → 40,036

down 1.2%

Renter share

40.8% → 43.1%

+2.3 pts

Bachelor's+

35.7% → 39.9%

+4.2 pts

Rent in ZIP 49504 in Grand Rapids, MI has increased 40.1% since 2021, going from about $988 per month to roughly $1,384 today. Census figures show median household income at $70,119 today, compared with $57,413 five years earlier. Rent outpaced income growth by roughly 18.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 40,516 to 40,036 between 2021 and 2024, a 1.2% change. About 43.1% of households rent today, against 40.8% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 35.7% to 39.9%. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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About renting in ZIP 49504

Last updated: October 17, 2026

ZIP code 49504 covers Grand Rapids, MI. The median rent here is $1,384/mo as of October 2026. A 1-bedroom rents for a median of $1,190/mo. A 2-bedroom rents for a median of $1,430/mo.

At 24% of local median household income ($70,119/yr), ZIP 49504 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 49504?

To keep rent at or below 30% of gross income, you would need to earn at least $55,000/year (about $26/hour full-time) to afford the median rent of $1,384/mo in ZIP 49504. The local median household income is $70,119/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 49504?

Rent in ZIP 49504 has risen 4.5% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2015.

When is the cheapest time to rent in ZIP 49504?

Asking rents in ZIP 49504 are usually lowest in January, about 1.3% below their yearly trend, and highest in July, about 1.5% above it. At today's median that is a gap of roughly $39 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 49504?

Yes. From 2019 to 2024, rent in ZIP 49504 rose 42.5% while median household income rose 37.4%, from $51,048 to $70,119. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 49504 compare to other ZIPs in Michigan?

ZIP 49504 is in the middle among Michigan ZIP codes for rent, ranking #98 of 168 at $1,384/mo. Over the year to September 2026, rent in ZIP 49504 changed +4.5%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.