Zip 48237 (Oak Park, MI) Housing

Housing in 48237 Oak Park, MI has a median value of $193,400 which is significantly lower than the US median value of $338,100. The house appreciation rate for the US is 8.27%, while the house appreciation rate in 48237 Oak Park, MI is 4.30%. This indicates that housing prices are not increasing at quite the same rate in Oak Park as they are nationally. Despite this slower appreciation rate, Oak Park remains an attractive housing market due to its affordability and location close to Detroit.

The median home cost in Oak Park (zip 48237) is $193,400. Home appreciation the last 10 years has been 130.9%. Home Appreciation in Oak Park (zip 48237) is up 9.7%.

Average Age of Homes

- The median age of Oak Park (zip 48237) real estate is 60 years old

The Rental Market in Oak Park (zip 48237)

- Renters make up 37.9% of the Oak Park (zip 48237) population
- 1.9% of houses and apartments in Oak Park (zip 48237), 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	Oak Park, Michigan	United States
	12,847.0	139,647,020.0
	64	42
	$193,400	$338,100
	9.7%	16.6%
	52.6%	57.0%
	130.9%	101.1%
	$17.25	$10.98
	$2,479	$2,690
	56.0%	57.4%
	4.6%	11.2%
	39.4%	31.4%
Vacant Housing
	1.9%	1.9%
	0.2%	0.4%
	0.3%	0.7%
	0.2%	0.4%
	0.0%	3.6%
	1.9%	4.1%
Value of Owner-Occupied Housing
	2.1%	2.6%
	1.1%	2.4%
	2.3%	2.8%
	3.9%	3.9%
	8.7%	4.5%
	36.7%	11.3%
	27.3%	13.0%
	14.9%	20.1%
	2.5%	13.6%
	0.0%	8.3%
	0.4%	9.7%
	0.0%	3.9%
	0.0%	2.2%
	0.2%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	1.3%	13.6%
	1.3%	13.6%
	1.9%	13.6%
	3.8%	13.2%
	11.1%	14.8%
	1.9%	13.6%
	49.9%	10.0%
	12.1%	4.7%
	1.4%	12.2%

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