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Royal Oak city, MI

ZIP 48073 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 48073

Median Home Value
$302,800
Median Rent
$1,142
Affordability Snapshot
$83,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,945/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.5x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

22.1 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 48073 in Royal Oak city, MI, a household would need roughly $83,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,945. That is roughly in line with the local median household income ($86,426). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
65.6%+0% vs US avg
x
Vacancy Rate
6.2%-40% vs US avg
x
Broadband Access
94.2%+8% vs US avg
x
4+ Bedrooms
1.3%-92% vs US avg
x
Built Pre-1939
14.5%+14% vs US avg
x
Built Post-2014
0.2%-97% vs US avg
x
Rent Burden >30%
13.4%-73% vs US avg
x
Mortgage-Free
35.7%-6% vs US avg
x
$302,800
Home Value
$1,142
Rent
1959
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached62.9%
  • 1-unit attached6.5%
  • 2-9 units17.2%
  • 10+ units13.3%
  • Mobile home & other0.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$302,800
Median rent$1,142
Owner-occupied65.6%
Vacant6.2%
Price-to-income3.5x
Est. income to buy$83,000