Zip 48067 (Royal Oak, MI) Housing

The housing market in 48067 Royal Oak, MI is quite robust. The median value of a house in this area is $307,700, which is lower than the US median value of $338,100. However, the one-year appreciation rate for the area is 7.58%, just short of the national average of 8.27%. This indicates that Royal Oak's housing market has been steadily appreciating and remains a desirable place to buy or invest in a home.

The median home cost in Royal Oak (zip 48067) is $307,700. Home appreciation the last 10 years has been 116.4%. Home Appreciation in Royal Oak (zip 48067) is up 10.8%.

Average Age of Homes

- The median age of Royal Oak (zip 48067) real estate is 66 years old

The Rental Market in Royal Oak (zip 48067)

- Renters make up 34.3% of the Royal Oak (zip 48067) population
- 2.9% of houses and apartments in Royal Oak (zip 48067), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Royal Oak, Michigan	United States
	13,523.0	139,647,020.0
	69	42
	$307,700	$338,100
	10.8%	16.6%
	47.2%	57.0%
	116.4%	101.1%
	$14.35	$10.98
	$3,624	$2,690
	63.0%	57.4%
	7.2%	11.2%
	29.8%	31.4%
Vacant Housing
	2.9%	1.9%
	0.6%	0.4%
	1.1%	0.7%
	0.4%	0.4%
	0.5%	3.6%
	1.6%	4.1%
Value of Owner-Occupied Housing
	1.0%	2.6%
	0.4%	2.4%
	0.1%	2.8%
	0.0%	3.9%
	0.6%	4.5%
	5.9%	11.3%
	13.7%	13.0%
	45.4%	20.1%
	18.3%	13.6%
	6.6%	8.3%
	6.1%	9.7%
	1.1%	3.9%
	0.6%	2.2%
	0.0%	0.8%
	0.3%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	5.7%	13.6%
	5.7%	13.6%
	4.9%	13.6%
	3.5%	13.2%
	7.0%	14.8%
	4.9%	13.6%
	21.8%	10.0%
	18.0%	4.7%
	28.7%	12.2%