ZIP 49507
Is your rent fair?
Compare your rent to the local median.
Rent by unit size
Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 49507 usually run 1.4% below trend in January and 1.5% above it in August, about $49 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 49507 is at its highest level since Zillow's records here began in January 2015.
Rent in ZIP 49507 changed +6.8% 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 49507 rose 47.2% while median household income rose 49.6% ($41,089 to $61,461). Income kept ahead of rent.
Rent in ZIP 49507 is 62.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 9 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($61,461) is $1,537 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,530); a 3-bedroom is $1,980.
3rd cheapest of 5 ZIP codes in Grand Rapids.
ZIP 49503, 2 miles away, rents for 11% less ($1,506/mo), about $2,200 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 49507. 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 49507 (Grand Rapids, MI) is majority owner-occupied, has a large share of families with children, has a median income below the national average, 27.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 49507 in Grand Rapids, MI has changed in 5 years
Compared with 2021, rent in ZIP 49507 in Grand Rapids, MI has climbed by $539 per month, settling near $1,690 after starting the period at $1,151. Median household income grew from $47,216 to $61,461 between 2021 and 2024, a 30.2% shift. Rent outpaced income growth by roughly 16.6 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 39,203 to 38,487 between 2021 and 2024, a 1.8% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 23.5% to 27.5%. Taken together, the five-year picture in ZIP 49507 in Grand Rapids, MI reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
Discussions about ZIP 49507
No discussions yet. Start the conversation.
Tips for renters in ZIP 49507
Last updated: October 17, 2026
ZIP code 49507 covers Grand Rapids, MI. The median rent here is $1,690/mo as of October 2026. A 1-bedroom rents for a median of $1,280/mo. A 2-bedroom rents for a median of $1,530/mo.
At 33% of local median household income ($61,461/yr), ZIP 49507 ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.8% over the past year.
Frequently asked questions
How much income do you need to rent in ZIP 49507?
Is rent going up or down in ZIP 49507?
When is the cheapest time to rent in ZIP 49507?
Has rent outpaced income in ZIP 49507?
How does ZIP 49507 compare to other ZIPs in Michigan?
How does ZIP 49507 compare to the rest of Grand Rapids?
At $1,690/mo, rent takes ~33% of ZIP 49507's median household income ($61,461/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Be the first to submit your rent for this ZIP.
No discussions yet.