Farmington Hills, MI has a population of 81,235, while the median age is 44. The household income in Farmington Hills, MI is around $76,637. The homeownership rate among the residents is 62%. The median residential property value in Farmington Hills, MI that you should keep in mind is $230,000.
Population | 81,235 |
Median Age | 43.7 |
Poverty Rate | 7% |
Household Income | $76,637 |
Number Of Employees | 42,218 |
Median Property Value | $230,000 |
Rent Price |
Apr | vs Last Month |
---|---|---|
1-bed apartments | $1,037 | +0% |
2-bed apartments | $1,687 | +18.9% |
3-bed apartments | $2,613 | +25.2% |
4+ bed apartments | $5,786 | +141.1% |
Over the April 2023, the average rent for an apartment in/near Farmington Hills, MI increased by 32% to $1,768.
Breaking it down in details, we now see that the average price for 1-bed apartment increased by 0% to $1,037. Pricing for 2-bed apartment also increased by 18.9% and a place of this size will now cost you $1,687. 3-bed apartment rent pricing starts at $2,613, it increased by 25.2% lately. We tend to note the rise of 4- and more bed apartment pricing. It increased by 141.1% and made it up to $5,786.
Rent Type Price |
Apr | vs Last Month |
---|---|---|
Condos for rent | $1,425 | -15.4% |
Houses for rent | $5,826 | +169% |
Apartments for rent | $1,370 | +5% |
The median rent for an apartment in Farmington Hills, MI increased by 5% to $1,370. Statistics show that house rent price increased by 169% this month making it up to $5,826. Condos faced an upward trend these days. The median rent for a condo decreased by 15.4%, it’s now available for $1,425. If you’re looking for a room, the price tag still starts at $900. The median price did not change this time.