The story of this market
The typical home in ZIP 48073 sells for about $369,790, or $256 per square foot.
Prices are down 1.8% from a year ago, which gives buyers more room to negotiate. Homes take about 21 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,283 a month.
ZIP 48073 — Royal Oak
The 48073 housing market remains highly competitive with low inventory levels, keeping it firmly in seller's market territory. While year-over-year prices have seen a slight correction, the rapid pace of sales and strong demand suggest continued resilience in the local real estate sector.
This ZIP is ideal for young professionals, families, and commuters who prioritize walkability, access to urban amenities, and a central location within the Metro Detroit area.
Median prices moved down 1.8% year over year.
Homes spend a median of 21 days on market with 1.3 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.0% · poverty 6.2% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 48073, Royal Oak, MI
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by Royal Oak Schools, which generally maintains a stable reputation within the Metro Detroit region.
The area faces standard Midwestern climate risks, primarily related to heavy rainfall and potential basement flooding, with insurance markets remaining stable.
Royal Oak benefits from its proximity to major automotive and healthcare employers in the Detroit-Warren-Dearborn metro area, with ongoing infill development in its downtown core.
Property taxes are levied by the City of Royal Oak and Oakland County, with rates determined by local millage elections and state-mandated assessment caps under Proposal A.
Residents benefit from direct access to I-696 and I-75, providing efficient transit to major employment hubs in Detroit, Troy, and Southfield.
The area features extensive local parks, the Detroit Zoo, and a highly walkable downtown district with diverse dining and shopping options.
The rental market is characterized by high demand and low vacancy rates, driven by the city's walkability and proximity to regional employment centers.
The local economy is anchored by the broader Detroit-Warren-Dearborn metro area, with significant employment in automotive, healthcare, and professional services.
The city is well-connected via major highway corridors including I-696 and I-75, facilitating regional commuting.
Ongoing development focuses on mixed-use infill projects within the downtown area to increase density and housing supply.
The Oakland County Equalization Division oversees property assessments, ensuring compliance with state-level tax laws.
Parcels are subject to local school district taxes, county-wide millages, and specific municipal service assessments.
Property insurance premiums are generally stable, reflecting the area's low exposure to catastrophic natural disasters.
Data retrieved from Census Reporter and ACS 2024 profiles for Royal Oak city.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- C.J. Barrymore's4.415.4 mi
- Dave & Buster's Livonia414.8 mi
- Dave & Buster's Utica4.110.8 mi
- Round1 Bowling & Arcade - Auburn Hills4.114.5 mi
- Adventure Bay Family Water Park Presented by WFCU Credit Union4.415.1 mi
- Little Caesars Arena4.613.3 mi
- Comerica Park4.713.6 mi
- Ford Field4.613.6 mi
- Pine Knob Music Theatre4.619 mi
- Huntington Place4.514.4 mi
- Detroit Zoo4.52.9 mi
- Detroit Institute of Arts4.812 mi
- Emagine Royal Oak4.32.1 mi
- Motown Museum4.711.3 mi
- MJR Marketplace Cinema4.57.3 mi
- Henry Ford Museum of American Innovation4.815.3 mi
- Detroit Institute of Arts4.812 mi
- Greenfield Village4.815.3 mi
- Michigan Central4.813.7 mi
- Motown Museum4.711.3 mi
- Dodge Park4.79.2 mi
- Innovation Hills4.79.2 mi
- Cranbrook House & Gardens4.85.6 mi
- Red Oaks Waterpark4.43.4 mi
- Heritage Park4.711.6 mi
- Western Golf & Country Club4.611.2 mi
- Rackham Golf Course3.82.9 mi
- Fieldstone Golf Club3.912.7 mi
- Evolution Sportsplex4.49.1 mi
- Sanctuary Lake Golf Course3.97.8 mi
- Somerset Collection4.63.1 mi
- Oakland Mall4.12.8 mi
- Meijer45.5 mi
- Meijer4.21.8 mi
- Detroit Metropolitan Wayne County Airport4.323.3 mi
- Windsor International Airport4.220 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major regional anchor attraction located within the city limits.
A vibrant district known for its high concentration of restaurants, bars, and retail.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.