Oakland, MI—48306
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Oakland, MI
Home Price Trends — Oakland, MI
As of Oct '25, the median home price in Oakland, MI is $579,000, with a year-over-year change of 2.8%. This indicates that home prices in Oakland, MI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $579,000 | 2.8% |
| Single Family | $612,000 | 2.9% |
| Condos | $360,000 | 4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $297,000 | 2.4% |
3 Bed | $472,000 | 4.0% |
4 Bed | $637,000 | 2.7% |
| 5 Bed | $884,000 | 2.7% |
% of Housing Stock
Rental Trends — Oakland, MI
As of July '25, Rentcast reports the average rent in Oakland, MI is $2,610, with a year-over-year rent change of -12.4%. Per bedroom, the median rent as of July '25 in Oakland, MI is 1-bedrooms: $1,950, 2-bedrooms: $2,150, 3-bedrooms: $2,600, 4-bedrooms: $3,490. The most common rental property sizes in Oakland, MI are 2-bedroom and 1-bedroom, accounting for 60.6% and 20.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,350 | $2,610 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,350 | $1,950 |
| 2 Bed Rent | $1,850 | $2,150 |
| 3 Bed Rent | $2,200 | $2,600 |
| 4 Bed Rent | $3,500 | $3,490 |
% of Rental Stock
Property Listings — Oakland, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Oakland, MI is 43. This is a decrease of -8.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $919,000 | 18.0% |
Listing Count | 84 | -8.0% |
| Listings as % of Homes | 0.4% | -8.0% |
Days on Market | 43 | -8.0% |
Demographics — Oakland, MI
As of the latest ACS Survey released in 2023, Oakland, MI has a population of 27,800, which has remained stable by 0.6% over the past 5 years. Oakland, MI is a popular place for families, as children make up 25.4% of the population. The area has a highly educated workforce, with 72.0% 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 | 27,800 | 0.6% |
% Under 18 | 25.4% | -5.2% |
% Seniors | 16.6% | 1.2% |
% WFH | 24.8% | 244.4% |
% w/ College Degree | 72.0% | 4.5% |
As of the latest ACS Survey released in 2023, Oakland, MI is a predominantly white area, with 77.1% of the population identifying as white. The white population has shrunk by 6.2% in the last 5 years. The second most common race or ethnicity in Oakland, MI is asian, making up 9.6% of the population. Foreign-born residents account for 15.7% of the population in Oakland, MI, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.1% | -6.2% |
% Black | 1.8% | -41.9% |
% Hispanic | 5.5% | 66.7% |
% Asian | 9.6% | 5.5% |
% Foreign Born | 15.7% | 0.0% |
Mortgage and Risk — Oakland, MI
According to HUD data as of 2023, there were 620 mortgage originations in Oakland, MI, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Oakland, MI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 620 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Oakland, MI
As of 2024, the percent of homes in Oakland, MI under the Section 8 program is 3.0%. 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 Oakland, 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 | 17 |
Total Units Section 8 | 17 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$1,110 | $2,350 | $1,240 |
| 2 Bedroom | -$280 | $1,850 | $1,570 |
| 3 Bedroom | -$280 | $2,200 | $1,920 |
| 4 Bedroom | -$1,420 | $3,500 | $2,080 |
Affordability — Oakland, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $579,000 |
| Median Household Income | $166,000 |