Latest available · Census ACS 5-Year (2024)
What Is the Average Rent in ZCTA5 48331, Michigan?
ZIP code · Census ACS 5-Year estimates
The median gross rent in ZCTA5 48331, Michigan (ZIP 48331) is $1,828/month (±$62), based on Census ACS 5-Year estimates (2024). The median home value is $410,000 (±$12,531), and the median household income is $127,633/year. The unemployment rate in Oakland County, Michigan was 3.5% as of April 2026 (preliminary). Source: U.S. Census Bureau, American Community Survey, 2024 5-Year Estimates.
Housing Metrics for ZIP 48331
| Metric | Value |
|---|---|
| Median Gross Rent | $1,828 |
| Median Home Value | $410,000 |
| Median Household Income | $127,633 |
| Total Housing Units | 8,786 |
| Renter-Occupied Units | 1,860 |
| Renter-Occupied Share | 21% |
| Households Paying 50%+ Income | 589 households |
| Unemployment Rate(April 2026) | 3.5% |
How does ZIP 48331 compare?
Median gross rent ranked against all ZIP codes in Michigan.
Higher rent than 99% of ZIP codes in Michigan · 14th of 852
| # | ZIP code | Value |
|---|---|---|
| 1 | ZCTA5 48085 | $2,620 |
| 2 | ZCTA5 48374 | $2,548 |
| 3 | ZCTA5 48070 | $2,493 |
| … 10 more … | ||
| 14 | ZCTA5 48331(you are here) | $1,828 |
| … 835 more … | ||
| 850 | ZCTA5 48157 | $395 |
| 851 | ZCTA5 49060 | $347 |
| 852 | ZCTA5 49820 | $342 |
Geography
ZIP 48331 is in Oakland County, Michigan.
It covers part of Farmington Hills city, Michigan.
More data for ZCTA5 48331
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Frequently asked questions
What is the average rent in ZCTA5 48331, Michigan?
The median gross rent in ZCTA5 48331, Michigan (ZIP 48331) is $1,828/month, based on Census ACS 5-Year estimates (2024). Gross rent includes contract rent plus utilities. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024.
What is the average rent for a 2-bedroom in ZCTA5 48331, Michigan?
The median rent for a 2-bedroom in ZCTA5 48331, Michigan is not available based on Census ACS 5-Year estimates (2024). Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024.
What is the median home value in ZCTA5 48331, Michigan?
The median home value in ZCTA5 48331, Michigan (ZIP 48331) is $410,000 according to Census ACS 5-Year estimates (2024).
What percentage of renters in ZCTA5 48331 are rent-burdened?
In ZCTA5 48331, Michigan, 589 households pay 50% or more of their income for rent. A household is considered rent-burdened when it spends more than 30% of income on housing costs.
What is the median household income in ZCTA5 48331, Michigan?
The median household income in ZCTA5 48331, Michigan is $127,633/year according to Census ACS 5-Year estimates (2024).
How reliable is Census ACS data for small areas?
The ACS 5-Year estimates combine 60 months of data for more reliable figures in smaller geographies. Each estimate has a margin of error (MOE). For example, the median rent of $1,828 has a margin of error of ±$62. In very small areas, MOEs can be large relative to the estimate.
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