ZIP Code · MI

ZIP 48331

Part of Farmington Hills, MI

Pop. 21,562·Oakland County·42nd most expensive ZIP in Michigan

Median rent (all units)

$1,735/mo

Year-over-Year

+9.4%

Month-over-Month

+1.4%

vs US Median

-$197

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 48331 · $1,735

More affordable than 55% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,520

1 BR

$1,690

2 BR

$2,120

3 BR

$2,590

4 BR+

$2,810

Research median

$2,120/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: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Michigan

Rent in ZIP 48331 changed +9.4% over the year to September 2026. Across the 134 Michigan ZIP codes Zillow tracks, the typical change was +4.4%.

Recent direction

Rent has risen 4 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($127,633) is $3,191 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,810).

Cheaper nearby

ZIP 48335, 3 miles away, rents for 31% less ($1,199/mo), about $6,400 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 48331. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,820/yr

At $1,735/mo median

Location

CityFarmington Hills

StateMI

CountyOakland County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 9.4% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+9.4% YoY, +1.4% MoM), not inventory.

Demographics

Who lives here

ZIP 48331 (Farmington Hills, MI) is majority owner-occupied, has a large retiree population, has a median income above the national average, 66.5% of residents hold a bachelor's degree or higher.

Population

21,562

Median income

$127,633

Median age

47.6

Renters

21.2%

Age distribution

16.7%

19.9%

24%

15%

24.4%

Under 1816.7%

18–3419.9%

35–5424%

55–6415%

65+24.4%

Gender

48.6%

51.4%

Male48.6%

Female51.4%

Race & ethnicity

66.3%

14.4%

12.8%

White66.3%

Black14.4%

Hispanic2.8%

Asian12.8%

Other3.7%

Education (25+)

19.2%

66.5%

No HS diploma2.8%

HS diploma11.4%

Some college19.2%

Bachelor's+66.5%

Housing tenure

78.8%

21.2%

Owner78.8%

Renter21.2%

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

2021 vs 2026

How ZIP 48331 in Farmington Hills, MI has changed in 5 years

Income

$111,471 → $127,633

up 14.5%

Population

22,000 → 21,562

down 2.0%

Renter share

23.4% → 21.2%

-2.2 pts

Bachelor's+

67.2% → 66.5%

-0.7 pts

Median age

48.2 → 47.6

-0.6 yrs

Census figures show median household income at $127,633 today, compared with $111,471 five years earlier. Census counts show ZIP 48331 in Farmington Hills, MI losing about 438 residents over the five-year window, down 2.0% on net. The renter share has eased from 23.4% to 21.2%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

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About renting in ZIP 48331

Last updated: October 17, 2026

ZIP code 48331 covers Farmington Hills, MI. The median rent here is $1,735/mo as of October 2026. A 1-bedroom rents for a median of $1,690/mo. A 2-bedroom rents for a median of $2,120/mo.

At 16% of local median household income ($127,633/yr), ZIP 48331 ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 48331?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (about $33/hour full-time) to afford the median rent of $1,735/mo in ZIP 48331. The local median household income is $127,633/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 48331?

Rent in ZIP 48331 has risen 9.4% over the past year.

How does ZIP 48331 compare to other ZIPs in Michigan?

ZIP 48331 is one of the pricier among Michigan ZIP codes for rent, ranking #42 of 168 at $1,735/mo. Over the year to September 2026, rent in ZIP 48331 changed +9.4%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.