Grand River Growth Plan -All Gibbs for City Jan 2 2026 - Flipbook - Page 89
Farmington Hills Demographics
Figure 5: East Grand River 5-10 minute drive times, 5 mile rings and GPG defined market trade area demographics. .
Metro Detroit faces a housing shortage among college-educated young adults in their 20s and
30s. These residents are searching for better housing values than what is currently offered in
other markets like West Bloomfield, Plymouth, Ferndale, and Royal Oak. The Grand River
Avenue area may provide a more attainable alternative, appealing to buyers and renters who
want relative value and affordability
Fluctuations and demand in the housing market are reflected by changes in certain
demographic categories. An overall increase in population or declining household size
generates greater housing demand. Also, changes in family composition, income, age,
education and marital status all impact on overall market needs and niche housing
requirements.
5 Mile Ring
225,000 Population
100,000 Households
$77,000 Median HH Incomes
$117,000 Ave. HH Income
11,000 Businesses
150,000 Workers
Grand River Ave. Retail Trade Area
120,000 Population
50,000 Households
$70,000 Median HH Incomes
$95,000 Ave. HH Incomes
5,000 Businesses
45,000 Workers
10 Min. Drivetime
155,000 Population
70,000 Households
$70,000 Med. HH Incomes
$95,000 Ave. HH Income
7,000 Businesses
80,000 Workers
The median age of the City9s housing is 45 years old and the housing stock in the Grand River
Avenue area skews older and is estimated to be 60 years old. Moreover, 60% of the current City
housing inventory is single-family homes, while 40% are multi-family. The percentage of renters
in the Grand River area may bode well for multi-family residential development. Like the
number of households, the population in the study area is larger than in Farmington Hills.
Grand River Corridor Residential Market Analysis
Gibbs Planning Group, Inc. | Indigo Retail July 2, 2026
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