Bloomfield Hills, MI—48304
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bloomfield Hills, MI
As of Oct '25, the median home price in Bloomfield Hills, MI is $532,000, with a year-over-year change of 4.6%. This indicates that home prices in Bloomfield Hills, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $532,000 | 4.6% |
| Single Family | $664,000 | 4.7% |
| Condos | $329,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $142,000 | 2.2% |
2 Bed | $247,000 | 3.3% |
3 Bed | $466,000 | 4.3% |
4 Bed | $669,000 | 4.7% |
| 5 Bed | $1,328,000 | 5.4% |
% of Housing Stock
Rental Trends — Bloomfield Hills, MI
As of July '25, Rentcast reports the average rent in Bloomfield Hills, MI is $2,520, with a year-over-year rent change of -15.4%. Per bedroom, the median rent as of July '25 in Bloomfield Hills, MI is 1-bedrooms: $1,360, 2-bedrooms: $1,920, 3-bedrooms: $3,670, 4-bedrooms: $4,940. The most common rental property sizes in Bloomfield Hills, MI are 2-bedroom and 1-bedroom, accounting for 53.7% and 15.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $2,520 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,280 | $1,360 |
| 2 Bed Rent | $1,500 | $1,920 |
| 3 Bed Rent | $2,900 | $3,670 |
| 4 Bed Rent | $3,400 | $4,940 |
% of Rental Stock
Property Listings — Bloomfield Hills, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Bloomfield Hills, MI is 36. This is a increase of 4.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $607,000 | -17.0% |
Listing Count | 101 | 19.0% |
| Listings as % of Homes | 0.8% | 19.0% |
Days on Market | 36 | 4.0% |
Demographics — Bloomfield Hills, MI
As of the latest ACS Survey released in 2023, Bloomfield Hills, MI has a population of 17,400, which has increased by 8.3% over the past 5 years. Bloomfield Hills, MI is a moderately popular place for families, as children make up 20.8% of the population. The area has a highly educated workforce, with 74.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,400 | 8.3% |
% Under 18 | 20.8% | 5.1% |
% Seniors | 26.0% | -9.7% |
% WFH | 28.8% | 343.1% |
% w/ College Degree | 74.5% | 8.8% |
As of the latest ACS Survey released in 2023, Bloomfield Hills, MI is a predominantly white area, with 79.1% of the population identifying as white. The white population has remained stable in the last 5 years. The second most common race or ethnicity in Bloomfield Hills, MI is asian, making up 10.5% of the population. Foreign-born residents account for 17.4% of the population in Bloomfield Hills, MI, and this percentage has increased by 3.0% 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 | 79.1% | 0.0% |
% Black | 3.9% | -40.9% |
% Hispanic | 1.8% | -14.3% |
% Asian | 10.5% | 19.3% |
% Foreign Born | 17.4% | 3.0% |
Mortgage and Risk — Bloomfield Hills, MI
According to HUD data as of 2023, there were 329 mortgage originations in Bloomfield Hills, MI, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Bloomfield Hills, MI. Investor activity is low, as 0.0% 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 | 329 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Bloomfield Hills, MI
As of 2024, the percent of homes in Bloomfield Hills, MI under the Section 8 program is 0.6%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Bloomfield Hills, MI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $210 | $1,280 | $1,490 |
| 2 Bedroom | $380 | $1,500 | $1,880 |
| 3 Bedroom | -$600 | $2,900 | $2,300 |
| 4 Bedroom | -$910 | $3,400 | $2,490 |
Affordability — Bloomfield Hills, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $532,000 |
| Median Household Income | $141,000 |