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ZIP Code · MI

ZIP 48331

Pop. 21,562·Oakland County·41st most expensive ZIP in Michigan
Median rent (all units)
$1,768/mo
Year-over-Year
+12.0%
Month-over-Month
+1.4%
vs US Median
-$197
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 48331 · $1,768
More affordable than 54% of US ZIP codes · National median $1,965/mo
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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: July 20, 2026

Annual cost
$21,216/yr
At $1,768/mo median
Location
StateMI
CountyOakland County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 12.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+12.0% 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.

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Local insights

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About renting in ZIP 48331

Last updated: July 20, 2026

ZIP code 48331 covers Farmington Hills, MI. The median rent here is $1,768/mo as of July 2026. A 1-bedroom rents for a median of $1,690/mo. A 2-bedroom rents for a median of $2,120/mo.

At 17% of local median household income ($127,633/yr), ZIP 48331 ranks as affordable compared to the national benchmark of 30%. Rents have increased 12.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 48331?

As of July 20, 2026, the median monthly rent in ZIP 48331 (Farmington Hills, MI) is $1,768. This is based on aggregated data from public sources and community submissions.

How does ZIP 48331 rent compare to the US average?

ZIP 48331's median rent of $1,768/mo is $197 (10%) below the US national median of $1,965/mo.

How does ZIP 48331 compare to other ZIPs in Michigan?

ZIP 48331 is one of the pricier ZIP codes in Michigan, ranking #41 out of 165 ZIPs tracked at $1,768/mo.

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 $71,000/year (~$34/hour full-time) to afford the median rent of $1,768/mo in ZIP 48331. The local median household income is $127,633/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 48331?

Rent in ZIP 48331 has increased 12.0% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 48331 an affordable place to rent?

ZIP 48331 is considered very affordable for renters. At $1,768/mo, rent takes approximately 17% of the local median household income ($127,633/yr). The standard benchmark is 30%. ZIP 48331 falls comfortably within that range.

What percentage of ZIP 48331 residents rent vs. own?

According to Census data, approximately 21.2% of ZIP 48331 households are renters, while 78.8% are owner-occupied. ZIP 48331 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 48331 compare to the rest of Farmington Hills?

ZIP 48331 is pricier than Farmington Hills as a whole. At $1,768/mo, it's $333 above the Farmington Hills citywide median of $1,435/mo.

When was rent data for ZIP 48331 last updated?

Rent data for ZIP 48331 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
17%
VERY AFFORDABLE

At $1,768/mo, rent takes ~17% of ZIP 48331's median household income ($127,633/yr). The standard benchmark is 30%.

ZIP 48331 17%Benchmark 30%
State income tax4.25%
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Public schools near ZIP 48331 (Farmington Hills, MI)

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