Berkley, MI 48072 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Berkley, MI—48072

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$302,000

2.5% YoY Growth

Household Income

$113,000

37.8% YoY Growth

Days on Market

25.0% Longer YoY

Home Price Forecast

1.7%

Median Rent

$2,300

6.9% YoY Growth

1-Bed Rent

$1,270

9.8% YoY Growth

2-Bed Rent

$1,850

2.8% YoY Growth

3-Bed Rent

$2,400

0.9% YoY Growth

Home Price Trends — Berkley, MI

As of Nov '25, the median home price in Berkley, MI is $302,000, with a year-over-year change of 2.5%. This indicates that home prices in Berkley, MI are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$302,000	2.5%
Single Family	$302,000	2.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Berkley, MI

As of July '25, Rentcast reports the average rent in Berkley, MI is $2,010, with a year-over-year rent change of -6.9%. Per bedroom, the median rent as of July '25 in Berkley, MI is studios: $800, 1-bedrooms: $1,190, 2-bedrooms: $1,840, 3-bedrooms: $2,320, 4-bedrooms: $2,450. The most common rental property sizes in Berkley, MI are 3-bedroom and 2-bedroom, accounting for 35.8% and 32.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,300	$2,010
Studio Rent	$800	$800
1 Bed Rent	$1,270	$1,190
2 Bed Rent	$1,850	$1,840
3 Bed Rent	$2,400	$2,320
4 Bed Rent	$2,340	$2,450

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% of Rental Stock

Studio

4.4%

1 Bedroom

24.0%

2 Bedrooms

32.8%

3 Bedrooms

35.8%

4 Bedrooms

0.9%

5+ Bedrooms

2.0%

Property Listings — Berkley, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Berkley, MI is 36. This is a increase of 25.0% 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 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	$334,000	-1.0%
Listing Count	62	16.0%
Listings as % of Homes	0.3%	16.0%
Days on Market	36	25.0%

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Demographics — Berkley, MI

As of the latest ACS Survey released in 2023, Berkley, MI has a population of 15,100, which has decreased by -1.8% over the past 5 years. Berkley, MI is a moderately popular place for families, as children make up 19.5% of the population. The area has a highly educated workforce, with 58.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	15,100	-1.8%
% Under 18	19.5%	-8.0%
% Seniors	14.0%	19.7%
% WFH	20.3%	351.1%
% w/ College Degree	58.1%	11.7%

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As of the latest ACS Survey released in 2023, Berkley, MI is a predominantly white area, with 85.9% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Berkley, MI is hispanic, making up 3.4% of the population. Foreign-born residents account for 2.7% of the population in Berkley, MI, and this percentage has decreased by 35.7% 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	85.9%	-2.8%
% Black	2.0%	-50.0%
% Hispanic	3.4%	-2.9%
% Asian	0.9%	-10.0%
% Foreign Born	2.7%	-35.7%

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Mortgage and Risk — Berkley, MI

According to HUD data as of 2023, there were 383 mortgage originations in Berkley, MI, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Berkley, MI. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	383
% Conventional Loans	93.0%
% Government Loans	7.0%
% Investor Loans	3.0%
% Second Loans	0.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — Berkley, MI

As of 2024, the percent of homes in Berkley, MI under the Section 8 program is 1.9%. 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 Berkley, 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	18
Total Units Section 8	18
% Rentals under Section 8	1.9%
% Occupied Section 8	89.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$20	$1,270	$1,290
2 Bedroom	-$220	$1,850	$1,630
3 Bedroom	-$400	$2,400	$2,000
4 Bedroom	-$180	$2,340	$2,160

Berkley, MI—48072

Key Metrics at a Glance

Home Price Trends — Berkley, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Berkley, MI

% of Rental Stock

Property Listings — Berkley, MI

Demographics — Berkley, MI

Race and Ethnicity

Mortgage and Risk — Berkley, MI

Mortgages

Rentals and Section 8 — Berkley, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Berkley, MI

Home Price to Income Ratio

Berkley, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Huntington Woods, MI

Royal Oak, MI

Oak Park, MI

Lathrup Village, MI

Royal Oak, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.4
Median Home Price	$302,000
Median Household Income	$113,000

Berkley, MI—48072

Key Metrics at a Glance

Home Price Trends — Berkley, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Berkley, MI

% of Rental Stock

Property Listings — Berkley, MI

Demographics — Berkley, MI

Race and Ethnicity

Mortgage and Risk — Berkley, MI

Mortgages

Rentals and Section 8 — Berkley, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Berkley, MI

Home Price to Income Ratio

Berkley, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Huntington Woods, MI

Royal Oak, MI

Oak Park, MI

Lathrup Village, MI

Royal Oak, MI

Frequently Asked Questions

What is the average home price in Berkley, MI 48072?

How have home prices in Berkley, MI 48072 changed over the past year?

What is the home price projection for Berkley, MI 48072?

What are the demographics of Berkley, MI 48072?

How long does it take homes to sell in Berkley, MI 48072?

What is the average rent price in Berkley, MI 48072?