City · 57,950 residents · Oakland County, Michigan
Royal Oak, Michigan
In Royal Oak, a typical home is worth $328,700 and typical rent is $1,381 a month. Home values, rent and income are very close to those of all of Oakland County.
Typical home value from Zillow, September 2021 to September 2026: from $275,160 to $328,150.
Typical rent
$1,962a month
▲ 5% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,622 to $1,962.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Royal Oak is in Oakland County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Oakland County. See the county
What this place has that others do not, from public data, most unusual first.
1
Nearby, in Madison Heights, the typical home value is $199,100: 39% less than in Royal Oak ($328,700).
2
Royal Oak has the 10th smallest share of rent-burdened renters of the 168 cities in Michigan with more than 5,000 people (34%).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Royal Oak
What homes there are in Royal Oak, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Royal Oak
Oakland County
Michigan
United States
Kind of home: Royal Oak and its comparisons
Measure
Royal Oak
Oakland County
Michigan
United States
Detached house
65%
68%
72%
61%
Attached house
5%
7%
5%
6%
Building of 2 to 4
6%
5%
5%
8%
Apartments (5 or more)
23%
19%
13%
19%
Mobile home
Unreliable estimate
3%
5%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
As in Oakland County, most homes in Royal Oak are detached houses (65%).
Year built
Before 19601960–19791980–19992000–20092010 or later
Royal Oak
Oakland County
Michigan
United States
Year built: Royal Oak and its comparisons
Measure
Royal Oak
Oakland County
Michigan
United States
Before 1960
61%
28%
36%
26%
1960–1979
22%
30%
26%
24%
1980–1999
7%
26%
22%
25%
2000–2009
4%
9%
10%
14%
2010 or later
7%
7%
6%
11%
The typical home in Royal Oak was built in 1956, 19 years before the typical one in Oakland County.
Homes in Royal Oak are smaller: 56% have 3 bedrooms or more; in Oakland County, 66%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limit
Under $100K4%
$100K–$200K8%
$200K–$300K29%
$300K–$500K46%
$500K–$750K10%
FHA limit: $541,287
$750K–$1M2%
$1M or more1%
Value of owner-occupied homes: Royal Oak and its comparisons
Measure
Royal Oak
Under $100K
4%
$100K–$200K
8%
$200K–$300K
29%
$300K–$500K
46%
$500K–$750K
10%
$750K–$1M
2%
$1M or more
1%
About 88% of owner-occupied homes in Royal Oak are worth less than the FHA loan limit for Oakland County ($541,287).
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $5004%
$500–$9999%
$1,000–$1,49947%
HUD fair market rent, 2 bedrooms: $1,459
$1,500–$1,99922%
$2,000–$2,49914%
$2,500–$2,9993%
$3,000 or moreUnreliable
Monthly rent with utilities: Royal Oak and its comparisons
Measure
Royal Oak
Under $500
4%
$500–$999
9%
$1,000–$1,499
47%
$1,500–$1,999
22%
$2,000–$2,499
14%
$2,500–$2,999
3%
$3,000 or more
Unreliable estimate
About 56% of rented homes in Royal Oak cost less than HUD's 2-bedroom fair market rent for Oakland County ($1,459); the rest cost more.
With a mortgage
$1,902 a month
Oakland County: $1,998 a month
Without a mortgage
$643 a month
Oakland County: $778 a month
Owners with a mortgage
68%
Oakland County: 65%
Owning costs about the same in Royal Oak as in Oakland County: with a mortgage, $1,902 a month; without one, $643.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Royal Oak+46%
Oakland County+42%
Michigan+50%
United States+53%
Typical rent
Royal Oak+28%
Oakland County+27%
Michigan+30%
United States+33%
Typical household income
Royal Oak+24%
Oakland County+23%
Michigan+28%
United States+29%
Change since 2015–2019: Royal Oak and its comparisons
Measure
Royal Oak
Oakland County
Michigan
United States
Typical home value
+46%
+42%
+50%
+53%
Typical rent
+28%
+27%
+30%
+33%
Typical household income
+24%
+23%
+28%
+29%
Since 2015–2019, homes in Royal Oak gained value faster than in Oakland County: 46% against 42%.
Rents in Royal Oak rose at about the same pace as in Oakland County: 28% since 2015–2019, against 27%.
The typical household income in Royal Oak rose 24%: less than home values (+46%) and rent (+28%).
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Royal Oak and its comparisons
Measure
Royal Oak
Oakland County
Michigan
United States
Rental vacancy
8.4%
7.4%
5.1%
5.5%
Homeowner vacancy
Unreliable estimate
0.4%
0.8%
0.9%
More than one person per room
1.0%
1.2%
1.6%
3.4%
People per household
1.98
2.39
2.42
2.53
Drive alone
67%
71%
74%
69%
Carpool
3%
6%
8%
9%
Public transit
Unreliable estimate
0%
1%
3%
Walk or bike
2%
1%
2%
3%
Work from home
27%
20%
14%
15%
Other means
1%
1%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
In Royal Oak, the rental vacancy rate is 8.4%; in Oakland County, 7.4%.
More than one person per room: that is how 1.0% of households in Royal Oak live, near the figure in Oakland County (1.2%).
Fewer people live in each home here: 1.98 on average, against 2.39 in Oakland County.
Many people here do not commute at all: 27% work from home; in Oakland County, 20%.
Do the math
What would you pay each month for a home in Royal Oak?
A typical home is tight for the typical income
We start with a typical home in Royal Oak, worth $328,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in Royal Oak, which is $101,109 a year. For that payment to be 28% of income, a household would need to earn about $120,829 a year.
The calculator's FHA and conventional loan limits are those of all of Oakland County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Royal Oak. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $11,505 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,819
at 7.18% · 30 years
Loan amount
$322,746
Total interest
$464,356
Paid off in
November 2056
Includes $5,551 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,359 a month
Tight
$2,359 to $3,033 a month
Your payment · 33%
Hard
more than $3,033 a month
Compared with the typical household income in Royal Oak ($101,109 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,186
Property tax
$351
Home insurance
$137
FHA mortgage insurance (MIP)
$145
You need at least $11,505 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,819; principal and interest $2,186.
The city and its county
Royal Oak and Oakland County
Royal Oak is in Oakland County, Michigan. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Royal Oak
Map of Oakland County, Michigan, with Royal Oak marked. Around it, the neighboring counties.
Royal Oak
Oakland County
Other cities with a page
Royal Oak's own numbers
Typical home value
$328,700
Typical monthly rent
$1,381
Typical yearly household income
$101,109
Households that own their home
68%
Effective property tax rate
1.28%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Oakland County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,459
Price change over 5 years (FHFA)
+45%
Homes in a high flood-risk zone
0.4%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Oakland County.
A typical home in Royal Oak is worth $328,700: 4% below the county and 42% above Michigan. With the typical household income in Royal Oak ($101,109 a year), a typical home costs 3.3 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Royal Oak3.3 years
Oakland3.5 years
Michigan3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Oakland County
According to FHFA’s house price index, home prices in Oakland County rose 85% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Oakland County.
Yearly change in FHFA’s price index in Oakland County, 2016 to 2025
2016: +5.4% +5.4% 2016
2017: +7.1% +7.1% 2017
2018: +5.7% +5.7% 2018
2019: +4.4% +4.4% 2019
2020: +2.7% +2.7% 2020
2021: +10.0% +10.0% 2021
2022: +11.7% +11.7% 2022
2023: +6.3% +6.3% 2023
2024: +6.5% +6.5% 2024
2025: +4.2% +4.2% 2025
Change in FHFA’s price index in Oakland County, Michigan and the United States
Period
County
Michigan
U.S.
Last year (2025)
+4.2%
+4.7%
+2.9%
5 years (2020–2025)
+45%
+52%
+47%
10 years (2015–2025)
+85%
+97%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Royal Oak next to Oakland County, Michigan and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Royal Oak$328,700
Oakland$343,600
Michigan$231,600
United States$332,700
Typical monthly rent
Royal Oak$1,381
Oakland$1,376
Michigan$1,129
United States$1,413
Typical yearly household income
Royal Oak$101,109
Oakland$97,760
Michigan$72,875
United States$80,734
See the full table
Royal Oak next to Oakland County and Michigan
Measure
Royal Oak
Oakland County
Michigan
U.S.
Typical home value
$328,700 ▼4% below the county
$343,600
$231,600
$332,700
Typical monthly rent
$1,381
$1,376
$1,129
$1,413
Typical yearly household income
$101,109 ▲3% above the county
$97,760
$72,875
$80,734
Households that own their home
68% ▼5 points below the county
73%
73%
65%
Typical yearly property tax
$4,203 ▼4% below the county
$4,371
$2,904
$3,119
Effective property tax rate
1.28% ▲0.01 points above the county
1.27%
1.25%
0.94%
Renters with high rent for their income
34% ▼10 points below the county
45%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Oakland County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Royal Oak
For a typical $328,700 home in Royal Oak, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Royal Oak's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,819a month
Least cash to close
Down payment
$11,505
Cash to close
$21,366
Rate
7.18%
Mortgage insurance
FHA MIP · $145
Conventional, 5% down$2,759a month
Down payment
$16,435
Cash to close
$26,296
Rate
7.18%
Mortgage insurance
PMI · $156
Conventional, 20% down, no PMI$2,269a month
Down payment
$65,740
Cash to close
$75,601
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,573a month
Down payment
$49,305
Cash to close
$59,166
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Royal Oak
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,819
$11,505
$322,746
7.18%
FHA MIP · $145
$21,366
580
Conventional, 5% down
$2,759
$16,435
$312,265
7.18%
PMI · $156
$26,296
620*
Conventional, 20% down, no PMI
$2,269
$65,740
$262,960
7.18%
None
$75,601
620*
ITIN, 15% down (example)
$2,573
$49,305
$279,395
8.18%
None
$59,166
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Royal Oak is $1,381 a month: about the same as the county. In Royal Oak, 34% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Oakland County, by unit size. To pay the 2-bedroom one ($1,459 a month) without spending more than 30% of your income, you would need to earn $28.06 an hour working full time.
HUD lists 3 buildings with rents for lower incomes in Royal Oak. These are the largest.
Barton Towers 2333 N Troy St, Royal Oak 48067211 homes, 210 low-income · For older adults(248) 546-6292
Village of Royal Oak at Starr Corners3412 Devon Rd, Royal Oak 48073147 homes, 107 low-income · 1 bd: 21 · 2 bd: 126 · In service since 2011 · For older adults
Royal Oak Manor606 S Williams St, Royal Oak 48067243 homes, 105 low-income · For older adults(248) 541-4197
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 7 HUD-approved agencies with an office in Oakland County; 5 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Royal Oak or Oakland County. The ones below are statewide in Michigan: they work in Royal Oak the same as in the rest of the state.
Michigan state agency loan of up to $10,000, with no interest and no monthly payments, for the down payment, closing costs and prepaid expenses; it goes with MSHDA's MI Home Loan mortgage and is repaid in certain cases, such as when you pay off the first mortgage, sell or refinance the home, or no longer live in it.Offered by Michigan State Housing Development Authority (MSHDA).
Michigan state authority certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, for the life of the loan; you apply with an approved lender before you buy.Offered by Michigan State Housing Development Authority (MSHDA).
No legal help resource on our list is for Royal Oak or Oakland County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Royal Oak and all of Oakland County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Royal Oak?
The typical home value in Royal Oak is $328,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Oakland County it is $343,600.
How much does it cost to rent in Royal Oak?
Typical rent in Royal Oak is $1,381 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Oakland County is $1,459.
What is the FHA loan limit in Royal Oak?
Royal Oak uses the FHA limit for all of Oakland County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Royal Oak?
The typical homeowner in Royal Oak pays $4,203 a year, according to the U.S. Census Bureau. That is 1.28% of the home’s value; in Oakland County, the rate is 1.27%.
Where can I find free help to buy or rent in Royal Oak?
There are 7 HUD-approved counseling agencies with an office in Oakland County. 5 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
