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  4. /Oakland, MI - 48306

Oakland, MI—48306

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$606,000
3.5% YoY Growth
Household Income
$166,000
12.4% YoY Growth
Days on Market
30
3.0% Longer YoY
Home Price Forecast
1.1%
Median Rent
$2,350
12.4% YoY Growth
1-Bed Rent
$2,350
85.7% YoY Growth
2-Bed Rent
$1,850
15.6% YoY Growth
3-Bed Rent
$2,200
3.0% YoY Growth

Other Zip Codes in Oakland, MI

48363
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Oakland, MI

As of May '26, the median home price in Oakland, MI is $606,000, with a year-over-year change of 3.5%. This indicates that home prices in Oakland, MI are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$606,0003.5%
Single Family $642,0003.5%
Condos $363,0003.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$301,0001.3%
    3 Bed
    		$495,0004.2%
    4 Bed
    		$667,0003.4%
    5 Bed $929,4944.0%
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    % of Housing Stock

    Studio
    0.4%
    1 Bedroom
    2.7%
    2 Bedrooms
    10.2%
    3 Bedrooms
    21.6%
    4 Bedrooms
    54.7%
    5+ Bedrooms
    10.4%

    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.

    TypeMedian RentAverage Rent
    Average Rent$2,350$2,610
    Studio Rent N/AN/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
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    % of Rental Stock

    1 Bedroom
    20.6%
    2 Bedrooms
    60.6%
    3 Bedrooms
    5.3%
    4 Bedrooms
    11.6%
    5+ Bedrooms
    1.9%

    Property Listings — Oakland, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Oakland, MI is 30. This is a increase of 3.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$932,00013.0%
    Listing Count
    		11326.0%
    Listings as % of Homes0.4%26.0%
    Days on Market
    		303.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		27,8000.6%
    % Under 18
    		25.4%-5.2%
    % Seniors
    		16.6%1.2%
    % WFH
    		24.8%244.4%
    % w/ College Degree
    		72.0%4.5%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio3.2
    Median Home Price$606,000
    Median Household Income$166,000

    Oakland, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Oakland, MI

    48363

    Rochester Hills, MI

    48307

    Rochester Hills, MI

    48309

    Shelby Township, MI

    48316

    Washington, MI

    48094

    Frequently Asked Questions