Royal Oak, MI has a population of 58,973, while the median age is 36. The household income in Royal Oak, MI is around $74,140. The homeownership rate among the residents is 66%. The median residential property value in Royal Oak, MI that you should keep in mind is $191,700.
Population | 58,973 |
Median Age | 36.2 |
Poverty Rate | 7% |
Household Income | $74,140 |
Number Of Employees | 36,068 |
Median Property Value | $191,700 |
Rent Price |
May | vs Last Month |
---|---|---|
Studio apartments | $1,850 | -80.3% |
1-bed apartments | $1,358 | -48.3% |
2-bed apartments | $2,522 | -25.5% |
3-bed apartments | $2,327 | -54.2% |
4+ bed apartments | $5,630 | -47% |
Over the May 2023, the average rent for an apartment in/near Royal Oak, MI decreased by 50.8% to $2,514.
Compared to the last month, the average price for a rental studio in Royal Oak, MI has decreased by 80.3%. You can expect to rent the studio for $1,850 on average this month. Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 48.3% to $1,358. Pricing for 2-bed apartment also decreased by 25.5% and a place of this size will now cost you $2,522. 3-bed apartment rent pricing starts at $2,327, it decreased by 54.2% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 47% and made it down to $5,630.
Rent Type Price |
May | vs Last Month |
---|---|---|
Rooms for rent | $911 | +17.5% |
Houses for rent | $3,502 | -45% |
Condos for rent | $1,890 | -28.9% |
Apartments for rent | $2,056 | -8.7% |
The median rent for an apartment in Royal Oak, MI decreased by 8.7% to $2,056. Statistics show that house rent price decreased by 45% this month making it up to $3,502. Condos faced an upward trend these days. The median rent for a condo decreased by 28.9%, it’s now available for $1,890. An average room will now go for $911, the median rent price for a room increased by 17.5%.