Grand Rapids, MI 49508 Real Estate Market Report

ZIP Code: 49508
Report Date: June 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Grand Rapids, MI are 6.69% compared to the 2026 year-to-date average of 6.40%, reflecting a slight increase in borrowing costs for property owners in this market.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary market indicator, the median sold price of $365,000, shows recent transaction-level pricing that is higher than the median listing price of $319,900, suggesting a pricing gap where completed sales reflect stronger realized values than current asking levels.

2. The lengthy median days on market of 270 indicates slower sales velocity and may reflect pricing friction or buyer selectivity; combined with a neutral market temperature, this suggests a balanced market that slightly favors sellers when properties are correctly priced.

3. Pricing density at a median price per square foot of $205 and a median market rent of $1,450 indicate rental rates are rising (rent up), supporting interest from investor buyers where cashflow metrics are acceptable, though investors should validate yields independently.

4. Macro pressures include elevated interest rate pressure and reported mortgage rates near 6.69% versus a 2026 year-to-date average of 6.40%, which may dampen buyer purchasing power and lengthen time-to-contract despite the sample's characterization of relatively constrained active supply.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Grand Rapids, MI 49508 Real Estate Market Report

ZIP Code: 49508
Report Date: June 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Grand Rapids, MI are 6.69% compared to the 2026 year-to-date average of 6.40%, reflecting a slight increase in borrowing costs for property owners in this market.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary market-value signal is the median sold price of 250,000, which, together with recent transaction activity, suggests a modestly appreciating market with up price momentum.

2. The median days on market is 313, indicating notably slower sales velocity that may reflect longer decision cycles or pricing friction rather than outright market weakness; this slower pace suggests moderate liquidity and the need for targeted pricing strategies to accelerate closings.

3. Pricing context shows a median price per square foot of 225 alongside a median market rent of 1,600; stable-to-rising rents and the price per square foot profile imply opportunities for owners considering hold-versus-sell scenarios, with rental demand trending up.

4. Borrowing-cost pressure is a headwind: interest rate pressure is characterized as elevated, and Current 30-year fixed mortgage rates in Grand Rapids, MI are 6.69% compared to the 2026 year-to-date average of 6.40%, which may suppress some buyer purchasing power and suggests cautious underwriting and pricing discipline are prudent; this is a elevated interest rate pressure signal.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.