49506, Grand Rapids, MI

Home equity is the difference between what a homeowner owes on their home and the value of their home. Home prices are the amount that someone is willing to pay for a property. The 49506 zip code of Grand Rapids, MI has seen an increase in home equity and home prices over the past few years.

In 2016, the median home value in the 49506 zip code was $151,000. This was an increase from 2015 when the median home value was $144,000. In 2017, the median home value increased to $158,000 which is a 9% increase from 2016.

The reason for this increase in home values may be due to several factors including an improving economy and low interest rates. Additionally, Grand Rapids has been experiencing growth which could lead to more people wanting to purchase or invest in homes here.

While there are many benefits to owning a home in Grand Rapids, there are also some risks associated with it. If you are considering buying or investing in a property in this area, it is important to do your research and understand all of your options before making any decisions.