The housing market in Farmington Hills, MI is doing quite well compared to the national average. The median value for homes in this city is $341,100, which is slightly higher than the US House Median Value of $338,100. In addition, the US 1 year House Appreciation rate is 8.27%, while the house 1 year appreciation rate in Farmington Hills, MI is 8.01%. This indicates that the housing market in Farmington Hills, MI is stable and thriving despite the challenging economic times.
The median home cost in Farmington Hills is $341,100. Home appreciation the last 10 years has been 110.3%. Home Appreciation in Farmington Hills is up 11.3%.
Average Age of Homes
- The median age of Farmington Hills real estate is 40 years old
The Rental Market in Farmington Hills
- Renters make up 35.3% of the Farmington Hills population
- 2.3% of houses and apartments in Farmington Hills, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.