Oakland County
Michigan · Pop. 1,274,395
Ranked #41 of 200 counties
52Moderate
Median Home Price
🏠$320K
4.5% YoY
Median Rent
🔑$1,450
Median Income
💰$75K
Rent Burden
📊27.0%
% of income to rent
Housing Shortage
🏗️14,000
estimated unit deficit
Building Permits (2024)
📋5,500
Price-to-Income Ratio
⚖️4.3x
Homeownership Rate
🏡72.0%
How Oakland County Compares
| Metric | Oakland County | Michigan | National |
|---|---|---|---|
| Home Price | $320K | $236K | $410K |
| Rent | $1,450 | $1,101 | $1,500 |
| Income | $75K | $69K | $75K |
| Rent Burden | 27.0% | 30.0% | 30.0% |
| Homeownership | 72.0% | 74.0% | 65.0% |
Key Takeaways
- • Home prices are 22% below the national average.
- • Rent is 3% below the national average.
- • The county has an estimated housing shortage of 14,000 units.
- • 5,500 building permits were issued in 2024.
- • Year-over-year home prices changed by 4.5%.