How much is a home worth in ZIP code 49506?

The typical home in 49506 is worth $434,027, based on the Zillow Home Value Index.

Are home values rising in 49506?

Home values in 49506 are up 4.1% over the past year, and up 6.6% a year over five years.

What is the typical rent in 49506?

A typical home in 49506 rents for about $1,881 a month, a gross rental yield of 5.2%.

What is the property tax rate in 49506?

The effective property tax rate in 49506 is 1.2% — roughly $5,395 a year on a typical home.

ZIP code 49506 has a population of 34,673 and a median household income of $118,131.

HousingHandbookReference data

…

U.S. ZIP Code · MI49506

Kent County · Grand Rapids-Wyoming-Kentwood, MI

Typical home value

$434,027^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +4.1%
5-year / yr: +6.6%
10-year / yr: +7.6%

Relative price

vs U.S.: +52.8%
vs metro: +41.6%
vs state: +81.5%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 49506 is worth $434,027 — 41.6% above the Grand Rapids-Wyoming-Kentwood, MI median. Over the past year, values have risen 4.1%. Homes here rent for a typical $1,881 a month — a 5.2% gross rental yield. The effective property tax rate is 1.2%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,881^[2]
Gross yield: 5.2%^[2]
Cap rate: 3.1%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.2%^[3]
Typical annual tax: $5,395^[3]

#Climate risk

FEMA National Risk Index ratings for Kent County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Moderate
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 34,673^[3]
Median household income: $118,131^[3]

#Migration

Household moves in and out of Kent County over a year, from IRS tax-return data.

Net migration: -268^[5]
Moved in: 15,196
Moved out: 15,464

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 11
Elementary: 6
Middle: 1
High: 3

East Grand Rapids High School
High · Grades 9–12 · East Grand Rapids Public Schools
874 students
East Grand Rapids Middle School
Middle · Grades 6–8 · East Grand Rapids Public Schools
662 students
Breton Downs School
Elementary · Grades PK–5 · East Grand Rapids Public Schools
466 students
Wealthy School
Elementary · Grades K–5 · East Grand Rapids Public Schools
466 students
Lakeside School
Elementary · Grades K–5 · East Grand Rapids Public Schools
461 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.2%

Net yield (after ~40% expenses)3.1%

Annual rent$22,568

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,195

Loan principal$347,222

Down payment$86,805

Total interest paid$442,862

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.60

Monthly cost to own$3,005

Monthly rent$1,881

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 84th percentile^[1]
Rental yield: 25th percentile^[2]
Property tax: 99th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 49506?: The typical home in 49506 is worth $434,027, based on the Zillow Home Value Index.
Are home values rising in 49506?: Home values in 49506 are up 4.1% over the past year, and up 6.6% a year over five years.
What is the typical rent in 49506?: A typical home in 49506 rents for about $1,881 a month, a gross rental yield of 5.2%.
What is the property tax rate in 49506?: The effective property tax rate in 49506 is 1.2% — roughly $5,395 a year on a typical home.
Who lives in 49506?: ZIP code 49506 has a population of 34,673 and a median household income of $118,131.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

49316 vs 49506 →
Caledonia, MI
Typical home
$440,039
Gross yield
—
49426 vs 49506 →
Hudsonville, MI
Typical home
$427,070
Gross yield
5.9%
49435
Lamont CDP, MI
Typical home
$423,101
Gross yield
—
49456
Ferrysburg, MI
Typical home
$420,301
Gross yield
5.2%
49401
Allendale CDP, MI
Typical home
$415,170
Gross yield
—
49341
Rockford, MI
Typical home
$457,417
Gross yield
5.2%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

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Pit ZIP 49506 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · MI49506

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