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Oak Park city, MI

ZIP 48237 — 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 48237

Median Home Value
$198,500
Median Rent
$1,107
Affordability Snapshot
$55,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,275/mo PITI).

20%
Rent-to-Income Ratio

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

3.0x
Home Price-to-Income Ratio

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

14.9 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 48237 in Oak Park city, MI, a household would need roughly $55,000 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 $1,275. That sits below the local median household income ($65,882), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
59.3%-9% vs US avg
x
Vacancy Rate
2.4%-77% vs US avg
x
Broadband Access
93.1%+7% vs US avg
x
4+ Bedrooms
0.9%-94% vs US avg
x
Built Pre-1939
11.8%-8% vs US avg
x
Built Post-2014
0.1%-99% vs US avg
x
Rent Burden >30%
22.7%-54% vs US avg
x
Mortgage-Free
29.8%-22% vs US avg
x
$198,500
Home Value
$1,107
Rent
1958
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

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

  • 1-unit detached73.6%
  • 1-unit attached7.6%
  • 2-9 units7.7%
  • 10+ units11.1%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$198,500
Median rent$1,107
Owner-occupied59.3%
Vacant2.4%
Price-to-income3.0x
Est. income to buy$55,000