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Affordable
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These days, finding an affordable place to live in the Oak Park area can be challenging. Home prices in Oak Park are now at a median cost of $212,584, lower than the Michigan average of $250,415.
The average cost of rent is $1,578/mo in Oak Park, primarily driven by the current value of real estate in the Oak Park area. In Oak Park, 36.74% of households rent, and 33.32% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Oak Park is $6,402 per month. Households that rent pay about 24.64% of their income on rent here. Oak Park’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Huntington Woods, MI: higher priced homes
- Pleasant Ridge, MI: higher priced homes
- Berkley, MI: higher priced homes
- Ferndale, MI: higher priced homes
- Lathrup Village, MI: higher priced homes
- Royal Oak, MI: higher priced homes
- Southfield, MI: higher priced homes
- Hazel Park, MI: less expensive homes
- Beverly Hills, MI: higher priced homes
- Madison Heights, MI: equally priced homes
Cities with Similar Populations
- West Roxbury, MA: higher priced homes
- Dade City, FL: higher priced homes
- Davison, MI: equally priced homes
- Derby, KS: higher priced homes
- Dodge City, KS: less expensive homes
- East Haven, CT: higher priced homes
- East Northport, NY: higher priced homes
- Elizabethtown, PA: higher priced homes
- Englewood, NJ: higher priced homes
- Glen Cove, NY: higher priced homes
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