Oakland County, Michigan Housing Market Prices
Oakland County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 87% above the Michigan median More expensive than 87% of counties in Michigan$259,162
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Median rent 22% above the Michigan median Among the 3 most expensive counties in Michigan$1,375
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Oakland County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,162 | $138,713 | $248,835 |
| Price Trend (Annual %) | 10.0% | 8.6% | 7.5% |
| Median Gross Rent | $1,375 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oakland County is about 87% higher than in Michigan. Rent is about 22% higher than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Oakland County, up about 10.0% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Oakland County rose about 46.1% between 2015 and 2024, from $941 to $1,375. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Oakland County.
Buying the median-priced home in Oakland County costs roughly 15.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Oakland County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Oakland County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,162 | $138,713 | $248,835 |
| Median Household Income | $98,107 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.6 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Oakland County rose about 124.3%, while median household income rose about 41.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Oakland County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.7% | 64.6% | 58.5% |
| Rental Rate | 25.8% | 23.6% | 31.2% |
| Vacancy Rate | 5.5% | 11.8% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Oakland County has a homeownership rate of 68.7%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 5.5%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Oakland County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1974 | 1972 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Oakland County was built around 1974. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 16.0 years on average.
Oakland County, MI Housing Compared With Nearby Counties
Oakland County, MI is the 2nd largest of the 6 counties compared here, 1,277,811 residents against a local median of 403,150. The measure that sets Oakland County, MI apart most is median home price: $259,162, 58% above the local median of $164,261.
Median rent tells the same story from another angle: $1,375 against a local median of $1,132, 22% above it. The counties themselves spread $145,616 on median home price, so Oakland County, MI sits at one end of an already wide local range rather than apart from it. Oakland County, MI has the highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Oakland County, MI | 1,277,811 | $259,162 #1/6 | $1,375 #1/6 | 72.7% #4/6 |
| Wayne County, MI | 1,771,784 | $56,306 | $1,132 | 64.7% |
| Lapeer County, MI | 88,837 | $169,473 | $987 | 86.0% |
| Macomb County, MI | 879,566 | $201,923 | $1,210 | 75.0% |
| Genesee County, MI | 403,150 | $96,479 | $988 | 70.8% |
| Livingston County, MI | 195,818 | $164,261 | $1,287 | 86.9% |
Frequently Asked Questions
Common questions about the housing market in Oakland County, Michigan.
What is the median home price in Oakland County, Michigan?
The median home price in Oakland County, Michigan is $259,162, higher than the Michigan average of $138,713.
What is the average home price in Oakland County, Michigan?
The typical home price in Oakland County, Michigan, reported as the median sale price, is $259,162. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Oakland County, Michigan?
The median gross rent in Oakland County, Michigan is $1,375 per month, higher than the Michigan average of $1,129.
What was the median gross rent in Oakland County in 2020?
In 2020, the median gross rent in Oakland County, Michigan was $1,099 per month.
What is the price-to-rent ratio in Oakland County, Michigan?
The price-to-rent ratio in Oakland County, Michigan is about 15.7, meaning it would take roughly 15.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Oakland County.
Are home prices or rent rising faster in Oakland County, Michigan?
Both home prices and rent are rising in Oakland County, up about 10.0% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Oakland County, Michigan?
68.7% of households in Oakland County, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Oakland County, Michigan?
The housing vacancy rate in Oakland County, Michigan is 5.5%, lower than the Michigan average of 11.8%.
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