Oakland County, Michigan Housing Market
In Oakland County, Michigan, the median home value is $343,600, with a median monthly rent of $1,376. This places Oakland County at #447 nationally out of 3134 counties by median home value, and #4 within Michigan.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,558
- Establishments: 44,202
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,730
- Multi-family: 293
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 544,305 (avg $136,340)
- Outflow: 540,326 (avg $137,309)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Oakland County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 48357 | 239.9 | +27.72% | 2025 |
| 2 | 48034 | 158.4 | +9.72% | 2025 |
| 3 | 48340 | 181.8 | +6.74% | 2025 |
| 4 | 48370 | 199.9 | +22.21% | 2025 |
| 5 | 48025 | 203.5 | +7.72% | 2025 |
| 6 | 48342 | 190.2 | +7.69% | 2025 |
| 7 | 48377 | 185.3 | -4.98% | 2025 |
| 8 | 48374 | 177.8 | +4.90% | 2025 |
| 9 | 48326 | 188.5 | +6.46% | 2025 |
| 10 | 48084 | 206.4 | +1.41% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
How Oakland County Compares
| Metric | Oakland County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $343,600 | $197,292 | $227,706 |
| Median Gross Rent | $1,376 | $905 | $968 |
| Owner Occupancy Rate | 72.7% | 80.2% | 73.3% |
| Price/Rent Ratio | 20.8 | 17.9 | 18.7 |
Market Analysis
The median home value in Oakland County is 74.2% above the Michigan state average and 50.9% above the U.S. national average. The median rent of $1,376/month is 52.0% above the state average.
With a price-to-rent ratio of 20.8, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Oakland County has an owner-occupancy rate of 72.7%, compared to 80.2% in Michigan and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Cecil County | Maryland | $343,400 | $1,377 |
| Greene County | Virginia | $343,300 | $1,309 |
| Delta County | Colorado | $343,200 | $1,121 |
| Bryan County | Georgia | $343,200 | $1,618 |
| Burnet County | Texas | $344,000 | $1,319 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Grand Traverse County | $339,400 | $1,288 | 77.2% |
| Livingston County | $356,800 | $1,287 | 86.9% |
| Ottawa County | $323,400 | $1,211 | 79.3% |
| Emmet County | $315,700 | $1,112 | 77.0% |
| Washtenaw County | $374,100 | $1,463 | 61.6% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-13. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).