Counties / Michigan / Oakland County

Oakland County, MI

FIPS 26125 · population 1,279,825 · part of Detroit, MI

$376k
Zillow home value · 2026-06
Direct county rent answer

What does rent cost in Oakland County, MI?

The latest county-level Zillow ZORI is $1,733 per month in 2026-06. It is a typical asking-rent index across rental types—not an arithmetic average, signed lease or quote for one property.

County Zillow ZORI$1,7332026-06 · up 2.4% year over year
County ACS gross rent$1,376ACS 2024 5-year · occupied-renter survey
HUD two-bedroom FMR$1,411FY2026 · administrative standard
HUD Fair Market Rent by bedroom count in Oakland County
BedroomsHUD monthly FMRGeographyMeasurement boundary
Studio$1,009Oakland County, MIHUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent.
1 bedroom$1,122Oakland County, MIHUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent.
2 bedrooms$1,411Oakland County, MIHUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent.
3 bedrooms$1,724Oakland County, MIHUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent.
4 bedrooms$1,868Oakland County, MIHUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent.

Zillow asking rent, ACS gross rent and HUD FMR describe different housing universes. They remain separate and no metro, city or neighboring-county value replaces missing county evidence.Zillow pulled 2026-07-26 · HUD pulled 2026-07-26

The numbers

What this county costs and earns

Everything here joins on the county FIPS code, so each figure comes from the agency that publishes it with no name matching in between.

Zillow home value
$376k
▲ 2.9% year over year
Zillow ZHVI · direct
Median asking rent
$1,733
▲ 2.4% year over year
Zillow ZORI · direct
Gross yield
5.5%
annual rent ÷ price, before costs
derived: rent × 12 ÷ price ✓
HUD 2-bed standard
$1,411
market rent is 1.23x the standard
HUD Fair Market Rent · direct
Independent price check

Do two methods point the same way?

Zillow estimates a current home value. FHFA tracks repeat mortgage transactions. Their growth rates should be read side by side, not averaged.

Both annual signals move in the same direction
FHFA five-year cumulative+44.8%not annualized · through 2025
0%ZILLOW ZHVI2026-06+2.9%FHFA HPI2025+4.2%
Annual changes use different methods and may use different periods. The comparison checks direction and magnitude; it does not create a blended estimate. Zillow county ZHVI pulled 2026-07-26; FHFA annual county HPI pulled 2026-08-02.
Owner-reported value$344k
Surveyed gross rent$1,376
Rent burden 30%+44.8%
Median year built1975
Housing composition

Who occupies the stock—and what it is

ACS 2024 5-year
5.5%vacant
561,348estimated housing units
Occupied tenure27.3% renter
owner 72.7%renter 27.3%
Structure mix74.2% single-family
Single-family 74.2%20+ units 7.7%Mobile home 2.8%Other 15.3%
ACS estimates describe the standing housing stock and occupied tenure. They do not measure current listings, transaction prices or asking rents.

Survey source: Census ACS 5-year — county housing value, tenure and stock · ACS 2024 5-year · pulled 2026-07-30. These values describe different housing universes and are not combined into gross yield.

Annual average covered jobs720,246▼ 0.5% from the prior annual release
Covered establishments44,642annual average reporting locations
Average weekly wage$1,543▲ 3.0% from the prior annual release
Largest private supersectorProfessional and business services22.7% of disclosed private covered jobs
Local labor base

Jobs, pay and private-sector concentration

2025
0%COVERED JOBS−0.5%WEEKLY WAGE+3.0%Professional and business services22.7%
Annual QCEW counts cover jobs located at reporting establishments. The industry share uses disclosed private covered employment; it is not a resident-employment measure or a forecast.

Workplace source: BLS QCEW — county employment and wages · annual county employment and wages 2021-2025; latest 2025 vs 2024 · pulled 2026-08-02. QCEW counts covered jobs located in the county, not employed residents or the metro score’s CES/LAUS series.

Resident income

How local income has compounded

BEA per-capita personal income divides all personal income by the county population. It is broader than wages, but it is not household income or a measure of what renters can afford.

Per-capita personal income19692024
Per-capita personal income history for Oakland CountyA line chart of annual BEA per-capita personal income from 1969 through 2024.$0k$50k$100k196919972024$6k$94k
Nominal annual dollars; not adjusted for inflation. A rising line can reflect wage, business-income, transfer-income and investment-income changes together.
Renter affordability

Who carries the heaviest rent burden

HUD CHAS separates renter households by income relative to local HAMFI. Moderate burden means housing costs above 30% through 50% of income; severe burden means more than 50%.

Share of renter households in each income band2018-2022
Renter cost burden by HAMFI income band in Oakland CountyFive horizontal bars show moderate and severe housing cost burden shares among renter households in each HUD income band.0%25%50%75%100%At or below 30% HAMFI27,32074.1% burdened30–50% HAMFI20,55583.7% burdened50–80% HAMFI27,29052.2% burdened80–100% HAMFI15,41516.9% burdenedAbove 100% HAMFI56,8155.3% burdened
Moderate: >30% to 50%Severe: >50%
Each percentage uses HUD’s published subtotal for that income band. For disclosure, HUD keeps 0 as 0, publishes 1–7 households as 4 and rounds 8 or more to the nearest 5. Independently rounded categories can differ from their displayed sum and are not forced into a percentage.
Direct local rental evidence

Recent leases and rental-market liquidity in Oakland County, MI

These Apartment List observations match the exact county Census code 26125. They are kept separate from Zillow asking rent, Census occupied-home rent and wider metro measures.

Direct recent-lease rent history

Monthly overall-rent index; missing observations are not filled from another geography.

$1,445$1,381$1,3162021-082026-07
Recent-lease rent$1,4452026-07 · +1.5% year over year
Rental vacancy4.5%2026-07 · -0.5 percentage points year over year
Time on marketn/an/a
County brief

What the local evidence says

01Decision frame

Oakland County's tension is income potential against softening visible seller conditions and carrying-risk unknowns, not a simple appreciation thesis. Zillow's 2026-06 county home-value measure increased, while the separate FHFA annual HPI observation for 2025 increased 4.15%. The FHFA result is a repeat-transaction index, not a dollar home value; its vintage and method cannot be averaged with Zillow's. Investors underwriting stabilized rent should investigate costs and location exposure, while resale-led buyers should be cautious.

02Housing economics

The record publishes a $1,733 monthly median asking rent, which supports the stated 5.52% gross yield before operating costs. This is market rent, not HUD's $1,411 two-bedroom Fair Market Rent: FMR is a payment standard rather than an asking-rent estimate. An effective property-tax rate of 1.27% reduces the room between gross yield and net return. Insurance, debt service, maintenance, utilities, vacancy and property-specific taxes are not published, so net yield and cash flow cannot be underwritten from this record.

03Demand & competition

Realtor.com MLS evidence shows active listings rose 15.56% and median listing prices declined. That is visible asking-price supply, not closed-sale pricing or proof of buyer demand. Annual QCEW covered employment at county workplaces fell 0.50%; Professional and business services is the largest disclosed private supersector, not the whole economy. Net tax-return migration was -2,989, with arrivals' average AGI $6,256 below departures. Investors accounted for 818 of 14,351 purchase mortgages, or 5.70%, indicating a measurable but mortgage-only competitor segment.

04Risk & next checks

Modeled climate loss equals 0.08% of building value per year and aligns with inland flood as the dominant hazard, but it is a county-level modeled ratio, not parcel loss or insurance cost. Flood maps, elevation, drainage, prior claims, replacement coverage and quotes are not published; their absence prevents flood-specific net-cash-flow underwriting. Also missing are submarket rents, lease-up and vacancy evidence, closed sales, financing terms and property condition, preventing a conclusion on achievable rent, exit value or asset-level return.

County ZIP rental landscape

How asking rent and renter pressure vary inside Oakland County, MI

This view uses 12 direct Zillow ZIP markets matched to Census ZCTAs. Each ZIP is assigned by its largest HUD residential county share; this is not an exhaustive county inventory.

Selected ZIP range$1,188$2,266Zillow asking-rent index
Monthly spread$1,078highest minus lowest selected ZIP
Observed burden range28.5%49.7%ACS renter households paying 30%+
Renter households covered62,609across the selected ZCTAs
01 · ASKING RENT LADDERDirect ZIP ZORI
Horizontal bars compare Zillow asking-rent indexes across the selected direct-evidence ZIP set.48067$2,26648073$1,91648377$1,86848220$1,75648326$1,75448307$1,72348071$1,49648237$1,44548034$1,38348340$1,27048335$1,24148393$1,188
02 · PRESSURE MATRIXRent × observed burden
Each point is one selected ZIP and ZCTA match. Horizontal position is Zillow asking rent and vertical position is the ACS renter cost-burden share.52.2%45.7%39.1%32.6%26.0%483354830748340480344832648073483934837748071482374806748220Zillow asking-rent index →ACS burden share →
03 · BENCHMARK GAPZORI vs HUD 2BR
Bars show the percentage difference between the Zillow blended asking-rent index and the local HUD two-bedroom standard. Their housing universes differ.48067+128.0%48377+120.5%48073+118.3%48220+114.0%48071+108.4%48326+107.0%48393+105.1%48340+96.2%48307+95.2%48237+87.0%48034+85.4%48335+65.7%
WHAT THE LOCAL DISTRIBUTION SAYS

Within the selected direct-evidence set, the practical question is not whether Oakland County has one rent level, but which ZIP/ZCTA reading fits a household’s price screen and availability tolerance. Zillow’s June 2026 ZORI—a typical observed asking-rent index—runs from $1,188 in ZIP 48393 to $2,266 in ZIP 48067, a $1,078 spread around a $1,609.50 median. The county’s $1,733 ZORI sits above that selected-set median. The range makes a county figure a starting point rather than a substitute for a location-specific search; it does not rank ZIPs by suitability or predict future rents.

Zillow, ACS, and HUD answer different questions and should remain separate. ACS five-year estimates place county median gross rent at $1,376, versus $1,733 for county ZORI; the $357 difference is a contrast in measure, time frame, and coverage, not a rent trend. HUD’s $1,411 two-bedroom FMR is instead an administrative program standard, not an asking rent. In the displayed records, ZORI is 65.7% of HUD’s two-bedroom level in ZIP 48335 and 128.0% at the high-ZORI endpoint. Those ratios compare unlike measures and do not establish a unit’s payment standard, asking rent, or tenant eligibility.

Affordability and availability call for a second screen. ACS estimates put the share of renter households spending 30% or more of income on rent between 28.5% at the high-ZORI endpoint and 49.7% in ZIP 48340, against 44.8% countywide. For that ZIP, its $1,270 ZORI implies $50,800 of annual income under that budget screen, while ACS reports $47,891 median household income. This juxtaposition is not a measure of any renter’s actual burden. Vacancy is also an ACS five-year estimate: the lowest-ZORI record shows 1.7% vacancy, while the highest-vacancy displayed record shows 10.4%. Low index rent alone therefore does not indicate an easier current unit search.

Coverage and geography limit how far this comparison can travel. Only 12 of 37 eligible direct-ZORI ZIP/ZCTA matches are shown, covering 62,609 renter households; they are a selected comparison set, not a countywide inventory. Display assignment follows the largest HUD residential-address share; every displayed record’s primary share is 100%, yet Census ZCTAs are statistical areas rather than USPS delivery ZIPs. Before choosing a property, verify its current advertised effective rent, bedroom count and floor area, utilities and fees, lease term, availability, screening terms, and program eligibility. Also confirm the exact address, whether the advertised figure excludes parking, deposits, utilities, or concessions, and which costs are due at application, move-in, and renewal. Use a HUD benchmark only when the actual bedroom configuration and applicable program rules match the property. Inspect the unit-specific gross rent rather than relying on an index or program benchmark as the lease amount.

Selected ZIP evidence

Keep each source universe visible

37 ZIP profiles passed the county gate; the 12 with the most renter households are shown.

ZIP / ZCTAZillow asking rentACS gross rentHUD 2BRBurden 30%+VacancyIncome screenHUD county share
48335$1,241$1,502$1,89032.4%8.6%$50k100.0%
48307$1,723$1,562$1,81036.9%4.8%$69k100.0%
48340$1,270$1,135$1,32049.7%8.7%$51k100.0%
48034$1,383$1,299$1,62049.7%10.4%$55k100.0%
48326$1,754$1,477$1,64039.7%7.3%$70k100.0%
48073$1,916$1,283$1,62035.5%6.5%$77k100.0%
48393$1,188$1,036$1,13042.7%1.7%$48k100.0%
48377$1,868$1,579$1,55044.5%8.1%$75k100.0%
48071$1,496$1,176$1,38039.1%8.4%$60k100.0%
48237$1,445$1,396$1,66045.4%4.9%$58k100.0%
48067$2,266$1,489$1,77028.5%6.4%$91k100.0%
48220$1,756$1,272$1,54038.4%5.3%$70k100.0%
READ BEFORE USING

The displayed records are a selected direct-evidence subset rather than an exhaustive county inventory. ZIPs can cross county borders, and report assignment uses the largest HUD residential-address share; that crosswalk method does not make a geographic label equivalent to an exclusively county-contained delivery area.

ACS county and ZCTA figures are five-year survey estimates, and ZCTAs are statistical areas rather than USPS delivery ZIPs. Zillow ZORI and HUD FMR differ in timing, unit concepts, and purpose, so neither replaces a property-specific lease quote, available-unit search, or eligibility determination.

SOURCE LEDGERCensus ACS 5-year — county housing value, tenure and stockACS 2024 5-year · pulled 2026-07-30Census ACS five-year — ZCTA housing and incomeACS 2024 5-year ZCTA · pulled 2026-08-08HUD Fair Market Rents — Section 8 standardFY2026 FMR · pulled 2026-07-26HUD-USPS ZIP-to-county residential-address crosswalkHUD-USPS 2026Q1 · pulled 2026-08-09Zillow ZHVI and ZORI — county values and rentscounty ZHVI/ZORI 2026-06 · pulled 2026-07-26Zillow ZORI — ZIP market rentsZORI ZIP 2026-06 · pulled 2026-08-08
Cities & communities

Where people live within Oakland County

Census-recognized incorporated places and CDPs that intersect this county. The list does not pretend to include every neighborhood or informal community.

Population scale

Largest Census places

ACS 2024 5-year
Troy city87.9KFarmington Hills city83.5KRochester Hills city77.1KSouthfield city76.2KNovi city66.7KPontiac city62.1KRoyal Oak city58KOak Park city29.3K
Bars use total place population, not a county-share estimate. An asterisk marks a place that crosses a county line.
Official directory

41 Census places

Population
  1. 01
    Troy cityIncorporated place
    87,898
  2. 02
    Farmington Hills cityIncorporated place
    83,515
  3. 03
    Rochester Hills cityIncorporated place
    77,089
  4. 04
    Southfield cityIncorporated place
    76,236
  5. 05
    Novi cityIncorporated place
    66,717
  6. 06
    Pontiac cityIncorporated place
    62,104
  7. 07
    Royal Oak cityIncorporated place
    57,950
  8. 08
    Oak Park cityIncorporated place
    29,318
  9. 09
    Madison Heights cityIncorporated place
    28,419
  10. 10
    Auburn Hills cityIncorporated place
    25,105
  11. 11
    Birmingham cityIncorporated place
    21,763
  12. 12
    Ferndale cityIncorporated place
    19,190
Show 29 more places
  1. 13
    Wixom cityIncorporated place
    17,295
  2. 14
    Berkley cityIncorporated place
    15,149
  3. 15
    Hazel Park cityIncorporated place
    14,963
  4. 16
    Rochester cityIncorporated place
    12,934
  5. 17
    South Lyon cityIncorporated place
    11,950
  6. 18
    Fenton cityIncorporated place · spans 3 counties
    11,906
  7. 19
    Farmington cityIncorporated place
    11,504
  8. 20
    Clawson cityIncorporated place
    11,374
  9. 21
    Beverly Hills villageIncorporated place
    10,524
  10. 22
    Walled Lake cityIncorporated place
    7,299
  11. 23
    Milford villageIncorporated place
    6,487
  12. 24
    Huntington Woods cityIncorporated place
    6,328
  13. 25
    Northville cityIncorporated place · spans 2 counties
    6,069
  14. 26
    Holly villageIncorporated place
    5,964
  15. 27
    Wolverine Lake villageIncorporated place
    4,487
  16. 28
    Bloomfield Hills cityIncorporated place
    4,415
  17. 29
    Lathrup Village cityIncorporated place
    4,059
  18. 30
    Oxford villageIncorporated place
    3,474
  19. 31
    Lake Orion villageIncorporated place
    2,863
  20. 32
    Keego Harbor cityIncorporated place
    2,747
  21. 33
    Pleasant Ridge cityIncorporated place
    2,602
  22. 34
    Franklin villageIncorporated place
    2,554
  23. 35
    Orchard Lake Village cityIncorporated place
    2,238
  24. 36
    Sylvan Lake cityIncorporated place
    1,705
  25. 37
    Bingham Farms villageIncorporated place
    1,680
  26. 38
    Ortonville villageIncorporated place
    1,341
  27. 39
    Village of Clarkston cityIncorporated place
    874
  28. 40
    Leonard villageIncorporated place
    346
  29. 41
    Lake Angelus cityIncorporated place
    238

Population is the total place-wide ACS estimate, not an allocated county share. A place crossing a county line is labelled explicitly. Source: Census ACS 5-year — cities and communities · ACS 2024 5-year · pulled 2026-07-30.

Risk, demand and competition

The three things a price does not tell you

01
Risk & carrying costFEMA NRI + Census ACS
Dominant hazardinland flooding

0.081% of building value expected lost per year

Effective property tax1.27%

$4,371 median annual bill

02
DemandIRS SOI household flows
Net migration-2,989

30,539 in · 33,528 out

Arriving vs leaving income−$6,256

$80,079 arriving · $86,335 leaving

03
CompetitionHMDA financed purchases
Purchases by investors5.7%

818 of 14,351 mortgages

investorother financed
Current listing pressure

What sellers and visible supply are doing

Realtor.com® Economic Research · county inventory 2026-06 · pulled 2026-07-28
Active listings2,920▲ 15.6% year over year
Median days on market32▲ 6.7% year over year
Listings price-reduced16.5%seller-concession signal
Median listing pricen/a▼ 4.3% year over year

Listing price is an asking price, not a closed sale. Quality-flagged county rows are withheld instead of displayed.

Same metro

The other counties in Detroit, MI

A metro is an average of these. Which side of a county line a property sits on can change the tax bill, the hazard profile and the tenant pool.

CountyPopulationPriceRentYieldHazard
Oakland County1,279,825$376k$1,7335.5%inland flooding
Wayne County1,772,259$181k$1,4239.4%inland flooding
Macomb County879,853$275k$1,4126.2%inland flooding
Livingston County195,833$407k$2,0326.0%inland flooding
St. Clair County160,221$264k$1,0544.8%inland flooding
Lapeer County88,837$300k$1,3555.4%inland flooding
Bear case

What can break the county thesis

  1. Operating, insurance, financing and vacancy costs may make the gross-yield case inadequate on a net basis.
  2. Negative net migration, lower arriving AGI and falling covered employment may weaken renter or buyer depth.
  3. The county climate model may not reflect a property's flood exposure, claims history or obtainable coverage.
Underwriting questions

Before pricing a property

Can gross yield be calculated from market rent rather than HUD FMR?

Yes. The record publishes $1,733 median monthly asking rent and a stated 5.52% gross yield before costs. HUD's $1,411 two-bedroom FMR is a payment standard, not market asking rent.

What employment trend is actually measured?

QCEW measures annual average covered jobs located at county workplaces. It shows covered employment declined 0.50%; it is not resident employment or an unemployment measure.

How much investor mortgage activity is recorded?

Investors accounted for 818 of 14,351 purchase mortgages, equal to 5.70%. This measure covers non-occupant purchase mortgages, not all acquisition methods.