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ZIP Code · MI

ZIP 48073

Pop. 33,106·Oakland County·22nd most expensive ZIP in Michigan
Median rent (all units)
$1,916/mo
Year-over-Year
+9.0%
Month-over-Month
+6.2%
vs US Median
-$49
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 48073 · $1,916
More expensive than 56% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,160
1 BR
$1,290
2 BR
$1,620
3 BR
$1,980
4 BR+
$2,140
Research median
$1,620/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$22,992/yr
At $1,916/mo median
Location
StateMI
CountyOakland County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 9.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+9.0% YoY, +6.2% MoM), not inventory.
Demographics

Who lives here

ZIP 48073 (Royal Oak, MI) is majority owner-occupied, has a median income above the national average, 60.7% of residents hold a bachelor's degree or higher.

Population
33,106
Median income
$91,627
Median age
38.7
Renters
31.6%
Age distribution
16.1%
29.1%
24.4%
13.8%
16.6%
Under 1816.1%
18–3429.1%
35–5424.4%
55–6413.8%
65+16.6%
Gender
50.2%
49.8%
Male50.2%
Female49.8%
Race & ethnicity
80.2%
White80.2%
Black8.2%
Hispanic2.7%
Asian3.8%
Other5.1%
Education (25+)
12.1%
24.2%
60.7%
No HS diploma3.1%
HS diploma12.1%
Some college24.2%
Bachelor's+60.7%
Housing tenure
68.4%
31.6%
Owner68.4%
Renter31.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 48073 in Royal Oak, MI has changed in 5 years

Rent
$1,341 → $1,916
up 42.9%
Income
$82,049 → $91,627
up 11.7%
Population
34,316 → 33,106
down 3.5%
Renter share
35.8% → 31.6%
-4.2 pts
Bachelor's+
56.7% → 60.7%
+4.0 pts
Median age
36.3 → 38.7
+2.4 yrs

Five years ago, renters in ZIP 48073 in Royal Oak, MI paid around $1,341 a month. That figure now sits near $1,916, up 42.9% from the 2021 baseline. Household income in the area moved from $82,049 to $91,627 across the same window, up 11.7% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 48073 in Royal Oak, MI losing about 1,210 residents over the five-year window, down 3.5% on net. The renter share has eased from 35.8% to 31.6%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 56.7% to 60.7% across the same window. Reading these numbers side by side helps frame whether current listings in ZIP 48073 in Royal Oak, MI look reasonable against where the market sat half a decade ago.

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Local insights

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About renting in ZIP 48073

Last updated: July 20, 2026

ZIP code 48073 covers Royal Oak, MI. The median rent here is $1,916/mo as of July 2026. A 1-bedroom rents for a median of $1,290/mo. A 2-bedroom rents for a median of $1,620/mo.

At 25% of local median household income ($91,627/yr), ZIP 48073 ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 48073?

As of July 20, 2026, the median monthly rent in ZIP 48073 (Royal Oak, MI) is $1,916. This is based on aggregated data from public sources and community submissions.

How does ZIP 48073 rent compare to the US average?

ZIP 48073's median rent of $1,916/mo is $49 (2%) below the US national median of $1,965/mo.

How does ZIP 48073 compare to other ZIPs in Michigan?

ZIP 48073 is one of the pricier ZIP codes in Michigan, ranking #22 out of 165 ZIPs tracked at $1,916/mo.

How much income do you need to rent in ZIP 48073?

To keep rent at or below 30% of gross income, you would need to earn at least $77,000/year (~$37/hour full-time) to afford the median rent of $1,916/mo in ZIP 48073. The local median household income is $91,627/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 48073?

Rent in ZIP 48073 has increased 9.0% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 48073 an affordable place to rent?

ZIP 48073 is considered affordable for renters. At $1,916/mo, rent takes approximately 25% of the local median household income ($91,627/yr). The standard benchmark is 30%. ZIP 48073 falls comfortably within that range.

What percentage of ZIP 48073 residents rent vs. own?

According to Census data, approximately 31.6% of ZIP 48073 households are renters, while 68.4% are owner-occupied. ZIP 48073 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 48073 compare to the rest of Royal Oak?

ZIP 48073 is more affordable than Royal Oak overall. At $1,916/mo, it's $234 below the Royal Oak citywide median of $2,150/mo.

When was rent data for ZIP 48073 last updated?

Rent data for ZIP 48073 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
25%
AFFORDABLE

At $1,916/mo, rent takes ~25% of ZIP 48073's median household income ($91,627/yr). The standard benchmark is 30%.

ZIP 48073 25%Benchmark 30%
State income tax4.25%
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Schools nearby

Public schools near ZIP 48073 (Royal Oak, MI)

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