Farmington Hills, MI 48336 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Farmington Hills, MI—48336

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$291,000

2.9% YoY Growth

Household Income

$85,300

37.6% YoY Growth

Days on Market

45

34.0% Longer YoY

Home Price Forecast

1.9%

Median Rent

$1,380

3.7% YoY Growth

1-Bed Rent

$1,150

17.0% YoY Growth

2-Bed Rent

$1,350

0.0% YoY Growth

3-Bed Rent

$2,200

18.2% YoY Growth

Other Zip Codes in Farmington Hills, MI

Home Price Trends — Farmington Hills, MI

As of Nov '25, the median home price in Farmington Hills, MI is $291,000, with a year-over-year change of 2.9%. This indicates that home prices in Farmington Hills, MI are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$291,000	2.9%
Single Family	$302,000	3.1%
Condos	$188,000	1.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Farmington Hills, MI

As of July '25, Rentcast reports the average rent in Farmington Hills, MI is $1,690, with a year-over-year rent change of 3.7%. Per bedroom, the median rent as of July '25 in Farmington Hills, MI is 1-bedrooms: $1,170, 2-bedrooms: $1,420, 3-bedrooms: $2,270, 4-bedrooms: $2,730. The most common rental property sizes in Farmington Hills, MI are 2-bedroom and 1-bedroom, accounting for 44.3% and 34.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,380	$1,690
Studio Rent	N/A	N/A
1 Bed Rent	$1,150	$1,170
2 Bed Rent	$1,350	$1,420
3 Bed Rent	$2,200	$2,270
4 Bed Rent	$2,850	$2,730

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% of Rental Stock

Studio

4.0%

1 Bedroom

34.8%

2 Bedrooms

44.3%

3 Bedrooms

11.4%

4 Bedrooms

4.0%

5+ Bedrooms

1.5%

Property Listings — Farmington Hills, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Farmington Hills, MI is 45. This is a increase of 34.0% 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	$300,000	2.0%
Listing Count	101	38.0%
Listings as % of Homes	0.3%	38.0%
Days on Market	45	34.0%

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Demographics — Farmington Hills, MI

As of the latest ACS Survey released in 2023, Farmington Hills, MI has a population of 26,900, which has increased by 4.0% over the past 5 years. Farmington Hills, MI is a moderately popular place for families, as children make up 18.6% of the population. The area has a moderately educated workforce, with 43.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	26,900	4.0%
% Under 18	18.6%	-11.8%
% Seniors	18.7%	16.9%
% WFH	16.0%	384.8%
% w/ College Degree	43.8%	10.3%

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As of the latest ACS Survey released in 2023, Farmington Hills, MI is a predominantly white area, with 70.9% of the population identifying as white. The white population has grown by 1.9% in the last 5 years. The second most common race or ethnicity in Farmington Hills, MI is black, making up 13.5% of the population. Foreign-born residents account for 11.7% of the population in Farmington Hills, MI, and this percentage has decreased by 4.1% 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	70.9%	1.9%
% Black	13.5%	-29.7%
% Hispanic	3.9%	34.5%
% Asian	7.1%	29.1%
% Foreign Born	11.7%	-4.1%

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Mortgage and Risk — Farmington Hills, MI

According to HUD data as of 2023, there were 577 mortgage originations in Farmington Hills, MI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Farmington Hills, MI. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	577
% Conventional Loans	88.0%
% Government Loans	12.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	15.0%

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Rentals and Section 8 — Farmington Hills, MI

As of 2024, the percent of homes in Farmington Hills, MI under the Section 8 program is 5.7%. 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 Farmington Hills, 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	186
Total Units Section 8	180
% Rentals under Section 8	5.7%
% Occupied Section 8	96.8%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$110	$1,150	$1,040
2 Bedroom	-$30	$1,350	$1,320
3 Bedroom	-$580	$2,200	$1,620
4 Bedroom	-$1,100	$2,850	$1,750