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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 $322,070, lower than the New York average of $610,895.
The average cost of rent is $1,121/mo in Ferndale, primarily driven by the current value of real estate in the Ferndale area. In Ferndale, 39.18% of households rent, and 52.15% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Ferndale is $6,582 per month. Households that rent pay about 17.03% of their income on rent here. Ferndale’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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Cities with Similar Populations
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