Grand River Growth Plan -All Gibbs for City Jan 2 2026 - Flipbook - Page 104
Public Schools Overview
Residential values in the Clarenceville School District and the Farmington Public Schools show
very similar performance with the notable difference being that the median home price in the
Clarenceville School District is lower coming in at $215,000. However, homes in the
Clarenceville District show a much higher increase in terms of appreciation when compared to
the Farmington Public Schools. Home appreciation in the Clarenceville School District comes in
at 7.0% besting the city which saw a nominal 1% price increase.
Clarenceville also outpaced Oakland County with a little over 6.0% price appreciation. In both
the City of Farmington Hills and the Farmington School District, the months9 supply increased
by approximately 30% indicating the housing market advantage is tilting a bit toward buyers.
The Clarenceville School District comes in at 20%.
Research Methodology
This analysis begins with a discussion of the context locale, evaluated in terms of a variety of
factors influencing suitability of residential development, including both multi-family and
residential. Local and regional demographic and economic factors likely to affect the current
and future housing market are collected, including specific competitive supply conditions such
as occupancy, rents, sale prices, construction activity and absorption. GPG also conducted
interviews with Farmington businesses, property owners, residents, area developers and
builders, the Chamber of Commerce and other stakeholders.
Market Analysis Assumptions
In this study several assumptions were used as a foundation to guide our research, analysis and
projections. These assumptions included:
• All amounts in this study are in 2025 dollars unless noted otherwise.
• Housing demand is often based on new job creation in the area.
• No new housing development proposed or built.
• A normal economy without economic shocks, and population growth, inflation, interest
rates and building costs remaining stable.
• The old housing stock, often dated, is artificially suppressing the study area9s market
prices and interest from new buyers and renters.
• The market demand put forth in this study is based on current conditions. However,
market demand will be significantly higher if a new town center were developed
somewhere along Grand River Avenue.
• A new urban type of town center should create demand that is two-times larger than
demand projected based on existing conditions.
After describing the existing housing market, a variety of sources are used to develop
reasonable projections for population and household growth within the study area. These
forecasts are analyzed alongside household income, housing preferences, and regional housing
trends to estimate demand for new housing units by type, size, and price point (including any
Grand River Corridor Residential Market Analysis
Gibbs Planning Group, Inc. | Indigo Retail July 2, 2026
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