Ferndale, MI 48220 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Ferndale, MI—48220

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$249,000

0.7% YoY Growth

Household Income

$86,100

38.7% YoY Growth

Days on Market

0.0% Longer YoY

Home Price Forecast

-0.1%

Median Rent

$1,680

4.1% YoY Growth

1-Bed Rent

$1,220

6.7% YoY Growth

2-Bed Rent

$1,600

10.0% YoY Growth

3-Bed Rent

$1,900

1.5% YoY Growth

Home Price Trends — Ferndale, MI

As of May '26, the median home price in Ferndale, MI is $249,000, with a year-over-year change of -0.7%. This indicates that home prices in Ferndale, MI are flat. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$249,000	-0.7%
Single Family	$249,000	-1.2%
Condos	$242,000	1.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Ferndale, MI

As of July '25, Rentcast reports the average rent in Ferndale, MI is $1,760, with a year-over-year rent change of 4.1%. Per bedroom, the median rent as of July '25 in Ferndale, MI is studios: $725, 1-bedrooms: $1,440, 2-bedrooms: $1,760, 3-bedrooms: $1,970, 4-bedrooms: $2,750. The most common rental property sizes in Ferndale, MI are 2-bedroom and 1-bedroom, accounting for 41.1% and 30.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,680	$1,760
Studio Rent	$725	$725
1 Bed Rent	$1,220	$1,440
2 Bed Rent	$1,600	$1,760
3 Bed Rent	$1,900	$1,970
4 Bed Rent	$2,450	$2,750

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% of Rental Stock

Studio

2.2%

1 Bedroom

30.3%

2 Bedrooms

41.1%

3 Bedrooms

24.3%

4 Bedrooms

2.1%

Property Listings — Ferndale, MI

As of May '26, Realtor.com reports that the median days on market for a home in Ferndale, MI is 30. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$250,000	-5.0%
Listing Count	134	12.0%
Listings as % of Homes	0.5%	12.0%
Days on Market	30	0.0%

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Demographics — Ferndale, MI

As of the latest ACS Survey released in 2023, Ferndale, MI has a population of 21,500, which has decreased by -5.7% over the past 5 years. Ferndale, MI is a less popular place for families, as children make up 13.2% of the population. The area has a highly educated workforce, with 52.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	21,500	-5.7%
% Under 18	13.2%	4.8%
% Seniors	11.8%	8.3%
% WFH	24.8%	451.1%
% w/ College Degree	52.7%	24.0%

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As of the latest ACS Survey released in 2023, Ferndale, MI is a predominantly white area, with 72.4% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Ferndale, MI is black, making up 15.4% of the population. Foreign-born residents account for 4.5% of the population in Ferndale, MI, and this percentage has increased by 40.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	72.4%	-4.1%
% Black	15.4%	-2.5%
% Hispanic	4.5%	87.5%
% Asian	2.6%	160.0%
% Foreign Born	4.5%	40.6%

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Mortgage and Risk — Ferndale, MI

According to HUD data as of 2023, there were 572 mortgage originations in Ferndale, MI, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Ferndale, MI. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	572
% Conventional Loans	90.0%
% Government Loans	10.0%
% Investor Loans	2.0%
% Second Loans	1.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Ferndale, MI

As of 2024, the percent of homes in Ferndale, MI under the Section 8 program is 4.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Ferndale, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD	495
Total Units Section 8	197
% Rentals under Section 8	4.2%
% Occupied Section 8	91.4%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$50	$1,220	$1,170
2 Bedroom	-$120	$1,600	$1,480
3 Bedroom	-$90	$1,900	$1,810
4 Bedroom	-$490	$2,450	$1,960

Ferndale, MI—48220

Key Metrics at a Glance

Home Price Trends — Ferndale, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Ferndale, MI

% of Rental Stock

Property Listings — Ferndale, MI

Demographics — Ferndale, MI

Race and Ethnicity

Mortgage and Risk — Ferndale, MI

Mortgages

Rentals and Section 8 — Ferndale, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Ferndale, MI

Home Price to Income Ratio

Ferndale, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Pleasant Ridge, MI

Royal Oak, MI

University District, Detroit, MI

Hazel Park, MI

Huntington Woods, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.7
Median Home Price	$249,000
Median Household Income	$86,100

Ferndale, MI—48220

Key Metrics at a Glance

Home Price Trends — Ferndale, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Ferndale, MI

% of Rental Stock

Property Listings — Ferndale, MI

Demographics — Ferndale, MI

Race and Ethnicity

Mortgage and Risk — Ferndale, MI

Mortgages

Rentals and Section 8 — Ferndale, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Ferndale, MI

Home Price to Income Ratio

Ferndale, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Pleasant Ridge, MI

Royal Oak, MI

University District, Detroit, MI

Hazel Park, MI

Huntington Woods, MI

Frequently Asked Questions

What is the average home price in Ferndale, MI 48220?

How have home prices in Ferndale, MI 48220 changed over the past year?

What is the home price projection for Ferndale, MI 48220?

What are the demographics of Ferndale, MI 48220?

How long does it take homes to sell in Ferndale, MI 48220?

What is the average rent price in Ferndale, MI 48220?