Welcome to our 48237 real estate data hub, tailored for investors in Oak Park, MI. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.
Explore essential data such as home prices, rental rates, and appreciation trends specific to 48237 in Oak Park, MI. Discover Section 8 housing opportunities and challenges to maximize your investment potential in OAKLAND COUNTY.
Leverage our comprehensive, zip code-specific data to excel in Oak Park, MI real estate investing. Uncover the wealth of information available, and position yourself for success in the Oak Park property market.
-
Location Overview
- Zip Code: 48237
- City: Oak Park
- State: MI
- Metro Area: Detroit-Warren-Dearborn, MI
- County Name: OAKLAND COUNTY
-
Real Estate Market Snapshot
- Average Home Price (All Types): $209,280
- Average Home Price (Single Family Homes): $209,488
- Average Monthly Rental Price (All Types): $1,496
- Price-to-Rent Ratio: 12
- Zillow Projected % appreciation from 4/2023-4/2024: 0.6%
-
Section 8 Housing Insights
- Average 2 Bedroom Section 8 Rental Rates: $1,420
- Average 3 Bedroom Section 8 Rental Rates: $1,770
- Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 12.28
- Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 9.85
- Number of Units Offered in Section 8 in the County: 6085
- Number of Occupied Units in Section 8 in the County: 5730
- Percentage of Section 8 Units Occupied in the County: 94.19999695%
-
Historical & Recent Price Appreciation Rates
- Total % Appreciation since 1990 (Government Data): 284.37
- Total % Appreciation since 2000 (Government Data): 66.53
- YTD Appreciation (Backwards from 4/2023, Realtor Data): -0.8%
- 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 3.36%
- 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 30.86%
- 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 62.06%
- 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 285.26%
- 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 108.07%
- 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 90.9%
-
Historical & Recent Rent Appreciation Rates
- YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): 5.34%
- 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 1.64%
- 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%