West Bloomfield, MI—48324
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in West Bloomfield, MI
Home Price Trends — West Bloomfield, MI
As of Oct '25, the median home price in West Bloomfield, MI is $463,000, with a year-over-year change of 4.0%. This indicates that home prices in West Bloomfield, MI are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $463,000 | 4.1% |
| Single Family | $468,000 | 4.0% |
| Condos | $363,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $282,000 | 3.3% |
3 Bed | $379,000 | 2.7% |
4 Bed | $530,000 | 5.0% |
| 5 Bed | $897,000 | 3.8% |
% of Housing Stock
Rental Trends — West Bloomfield, MI
As of July '25, Rentcast reports the average rent in West Bloomfield, MI is $3,570, with a year-over-year rent change of 13.0%. Per bedroom, the median rent as of July '25 in West Bloomfield, MI is 1-bedrooms: $1,020, 2-bedrooms: $2,100, 3-bedrooms: $3,950, 4-bedrooms: $3,480. The most common rental property sizes in West Bloomfield, MI are 4-bedroom and 2-bedroom, accounting for 30.8% and 23.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,570 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,020 | $1,020 |
| 2 Bed Rent | $2,000 | $2,100 |
| 3 Bed Rent | $3,000 | $3,950 |
| 4 Bed Rent | $3,500 | $3,480 |
% of Rental Stock
Property Listings — West Bloomfield, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in West Bloomfield, MI is 42. This is a increase of 1.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $497,000 | -13.0% |
Listing Count | 80 | 31.0% |
| Listings as % of Homes | 0.5% | 31.0% |
Days on Market | 42 | 1.0% |
Demographics — West Bloomfield, MI
As of the latest ACS Survey released in 2023, West Bloomfield, MI has a population of 16,600, which has decreased by -8.0% over the past 5 years. West Bloomfield, MI is a moderately popular place for families, as children make up 17.6% of the population. The area has a highly educated workforce, with 56.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,600 | -8.0% |
% Under 18 | 17.6% | -21.8% |
% Seniors | 19.3% | 17.0% |
% WFH | 22.5% | 129.6% |
% w/ College Degree | 56.9% | 0.5% |
As of the latest ACS Survey released in 2023, West Bloomfield, MI is a predominantly white area, with 76.7% of the population identifying as white. The white population has shrunk by 7.7% in the last 5 years. The second most common race or ethnicity in West Bloomfield, MI is black, making up 6.8% of the population. Foreign-born residents account for 14.5% of the population in West Bloomfield, MI, and this percentage has decreased by 7.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 76.7% | -7.7% |
% Black | 6.8% | 30.8% |
% Hispanic | 4.0% | 48.1% |
% Asian | 6.7% | 0.0% |
% Foreign Born | 14.5% | -7.6% |
Mortgage and Risk — West Bloomfield, MI
According to HUD data as of 2023, there were 333 mortgage originations in West Bloomfield, MI, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in West Bloomfield, 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 | 333 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — West Bloomfield, MI
As of 2024, the percent of homes in West Bloomfield, 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 units appear to be good home sizes to consider for Section 8 housing in West Bloomfield, MI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% 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 | $320 | $1,020 | $1,340 |
| 2 Bedroom | -$310 | $2,000 | $1,690 |
| 3 Bedroom | -$930 | $3,000 | $2,070 |
| 4 Bedroom | -$1,260 | $3,500 | $2,240 |
Affordability — West Bloomfield, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $463,000 |
| Median Household Income | $149,000 |