Zip 49503 (Grand Rapids, MI) Economy


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Grand Rapids, MI, with a zip code of 49503, is an affordable city for people looking to rent. The average 2 bedroom apartment in Grand Rapids is $1,220 a month as opposed to the national US average of $1,430. Grocery costs in Grand Rapids are also lower than the national average; coming in at 94 compared to 100.
The city is full of local businesses that offer something for everyone. Whether you're looking for a restaurant with delicious food or retail outlets that offer unique items, Grand Rapids has it all. From Meijer and Target which specialize in groceries and general goods to smaller shops like The Sovengard - an urban eatery- and Lyon Street Cafe - a cozy diner- there is plenty to explore.
For those looking for a great place to live while saving money on rent and groceries, Grand Rapids is an ideal choice with its low cost of living yet high quality lifestyle options.

Grand Rapids (zip 49503) has an unemployment rate of 6.3%. The US average is 6.0%.

Grand Rapids (zip 49503) has seen the job market decrease by -6.2% over the last year. Future job growth over the next ten years is predicted to be 35.8%, which is higher than the US average of 33.5%.

Tax Rates for Grand Rapids (zip 49503)
- The Sales Tax Rate for Grand Rapids (zip 49503) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Grand Rapids (zip 49503) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Grand Rapids (zip 49503)
- The average income of a Grand Rapids (zip 49503) resident is $32,043 a year. The US average is $37,638 a year.
- The Median household income of a Grand Rapids (zip 49503) resident is $52,441 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyGrand Rapids, MichiganUnited States
  6.36
  -6.2%-6.2%
  35.8%33.5%
  6.0%6.2%
  5.8%4.6%
  $32,043$37,638
  $52,441$69,021
  $62,962$85,028
  Population by Occupation
  1.2%1.2%
  0.1%0.5%
  5.4%6.8%
  16.9%10.0%
  3.2%2.5%
  9.5%11.0%
  3.3%4.8%
  0.2%0.8%
  1.9%1.9%
  5.3%4.7%
  1.1%1.9%
  8.8%7.6%
  0.1%0.1%
  4.0%4.2%
  6.5%9.3%
  15.9%14.0%
  2.1%2.1%
  8.7%7.0%
  4.0%4.8%
  1.6%4.7%
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