Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Ferndale area can be challenging. Home prices in Ferndale are now at a median cost of $187,873, lower than the Michigan average of $196,062.
The average cost of rent is $1,084/mo in Ferndale, primarily driven by the current value of real estate in the Ferndale area. While nearly 26.63% of residents own their homes outright in Ferndale, 35.90% rent.
Housing affordability isn’t just about home prices, though. The average household income in Ferndale is $6,323 per month. Households that rent pay about 17.14% of their income on rent here. Ferndale's most expensive areas are in the western regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Pleasant Ridge, MI: higher priced homes
- Hazel Park, MI: less expensive homes
- Huntington Woods, MI: higher priced homes
- Oak Park, MI: less expensive homes
- Highland Park, MI: less expensive homes
- Royal Oak, MI: higher priced homes
- Madison Heights, MI: less expensive homes
- Berkley, MI: higher priced homes
- Detroit, MI: higher priced homes
- Lathrup Village, MI: higher priced homes
Cities with Similar Populations
- Sharpsburg, GA: higher priced homes
- Manheim, PA: higher priced homes
- Mill Creek, WA: higher priced homes
- Millersville, MD: higher priced homes
- Milwaukie, OR: higher priced homes
- Mineola, NY: higher priced homes
- Oregon, OH: less expensive homes
- Salem, OH: less expensive homes
- Salmon Creek, WA: higher priced homes
- Sartell, MN: higher priced homes
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