Ferndale, MI has a population of 20,159, while the median age is 35. The household income in Ferndale, MI is around $61,060. The homeownership rate among the residents is 64%. The median residential property value in Ferndale, MI that you should keep in mind is $131,100.
|Number Of Employees||13,097|
|Median Property Value||$131,100|
|Rent Price||Jul||vs Last Month|
|1 bed rentals||$793||-25.6%|
|2 bed rentals||$1,700||+11.3%|
|3 bed rentals||$2,152||+21.1%|
|4+ bed rentals||$2,000||-20%|
Over the Jul 2022, the average rent for an apartment in/near Ferndale, MI increased by 1% to $1,688.
Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 25.6% to $793. Pricing for 2-bed apartment also increased by 11.3% and a place of this size will now cost you $1,700. 3-bed apartment rent pricing starts at $2,152, it increased by 21.1% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 20% and made it down to $2,000.
|Rent Type Price||Jul||vs Last Month|
Looking at the median rent price for an apartment in Ferndale, MI, you can note that it remains flat with a price tag of $550. Statistics show that house rent price increased by 18.7% this month making it up to $1,984. If you’re looking for a room, the price tag still starts at $775. The median price did not change this time.