Zip 48331 (Farmington Hills, MI) Housing

The housing market in 48331 Farmington Hills, MI is highly desirable and competitive. The median value of a house is $381,500, which is above the US median value of $338,100. Additionally, the house appreciation rate in Farmington Hills has been 8.00%, just slightly lower than the US 1 year House Appreciation rate of 8.27%. With its higher median value and steady appreciation rate, it's no wonder why so many people aspire to own property in Farmington Hills.

The median home cost in Farmington Hills (zip 48331) is $381,500. Home appreciation the last 10 years has been 110.3%. Home Appreciation in Farmington Hills (zip 48331) is up 11.2%.

Average Age of Homes

- The median age of Farmington Hills (zip 48331) real estate is 33 years old

The Rental Market in Farmington Hills (zip 48331)

- Renters make up 23.7% of the Farmington Hills (zip 48331) population
- 0.9% of houses and apartments in Farmington Hills (zip 48331), 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	Farmington Hills, Michigan	United States
	9,394.0	139,647,020.0
	37	42
	$381,500	$338,100
	11.2%	16.6%
	45.5%	57.0%
	110.3%	101.1%
	$17.24	$10.98
	$5,718	$2,690
	74.6%	57.4%
	2.6%	11.2%
	22.8%	31.4%
Vacant Housing
	0.9%	1.9%
	0.3%	0.4%
	0.2%	0.7%
	0.3%	0.4%
	0.8%	3.6%
	0.0%	4.1%
Value of Owner-Occupied Housing
	1.0%	2.6%
	1.3%	2.4%
	0.0%	2.8%
	0.5%	3.9%
	0.2%	4.5%
	3.5%	11.3%
	6.8%	13.0%
	25.3%	20.1%
	36.2%	13.6%
	16.8%	8.3%
	6.2%	9.7%
	1.3%	3.9%
	0.6%	2.2%
	0.0%	0.8%
	0.3%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	2.9%	13.6%
	2.9%	13.6%
	24.8%	13.6%
	33.3%	13.2%
	21.0%	14.8%
	24.8%	13.6%
	7.4%	10.0%
	0.6%	4.7%
	0.6%	12.2%

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