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Farmington Hills city, MI

ZIP 48331 — Housing & Real Estate

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

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 48331

Median Home Value
$383,200
Median Rent
$1,675
Affordability Snapshot
$106,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,462/mo PITI).

17%
Rent-to-Income Ratio

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

3.2x
Home Price-to-Income Ratio

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

19.1 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 48331 in Farmington Hills city, MI, a household would need roughly $106,000 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 $2,462. That sits below the local median household income ($121,101), 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

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
76.4%+17% vs US avg
x
Vacancy Rate
3.8%-63% vs US avg
x
Broadband Access
94.6%+9% vs US avg
x
4+ Bedrooms
5.2%-65% vs US avg
x
Built Pre-1939
0.5%-96% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
31.2%-37% vs US avg
x
Mortgage-Free
36.1%-5% vs US avg
x
$383,200
Home Value
$1,675
Rent
1984
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

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

  • 1-unit detached66.9%
  • 1-unit attached11.5%
  • 2-9 units9.9%
  • 10+ units10.9%
  • Mobile home & other0.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$383,200
Median rent$1,675
Owner-occupied76.4%
Vacant3.8%
Price-to-income3.2x
Est. income to buy$106,000