Zip 48073 (Royal Oak, MI) Housing

The housing market in Royal Oak, MI (zip code 48073) is thriving. The median value of a house in this area is $272,100, which is significantly lower than the US median of $338,100. Furthermore, the appreciation rate for houses in this area has grown by 7.58% over the last year - slightly lower than the US average at 8.27%. Despite this slight difference, it appears that the real estate market in Royal Oak is strong and growing steadily.

The median home cost in Royal Oak (zip 48073) is $272,100. Home appreciation the last 10 years has been 116.4%. Home Appreciation in Royal Oak (zip 48073) is up 10.8%.

Average Age of Homes

- The median age of Royal Oak (zip 48073) real estate is 60 years old

The Rental Market in Royal Oak (zip 48073)

- Renters make up 28.4% of the Royal Oak (zip 48073) population
- 1.4% of houses and apartments in Royal Oak (zip 48073), 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
	17,719.0	139,647,020.0
	63	42
	$272,100	$338,100
	10.8%	16.6%
	47.2%	57.0%
	116.4%	101.1%
	$15.07	$10.98
	$3,738	$2,690
	59.7%	57.4%
	7.1%	11.2%
	33.2%	31.4%
Vacant Housing
	1.4%	1.9%
	0.6%	0.4%
	0.7%	0.7%
	0.2%	0.4%
	0.6%	3.6%
	3.8%	4.1%
Value of Owner-Occupied Housing
	0.4%	2.6%
	0.8%	2.4%
	1.0%	2.8%
	2.6%	3.9%
	0.9%	4.5%
	5.3%	11.3%
	14.6%	13.0%
	41.4%	20.1%
	20.6%	13.6%
	7.7%	8.3%
	4.1%	9.7%
	0.3%	3.9%
	0.1%	2.2%
	0.0%	0.8%
	0.1%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	1.2%	13.6%
	1.2%	13.6%
	3.0%	13.6%
	4.2%	13.2%
	13.5%	14.8%
	3.0%	13.6%
	35.3%	10.0%
	14.3%	4.7%
	7.2%	12.2%

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