Grand River Growth Plan -All Gibbs for City Jan 2 2026 - Flipbook - Page 90
Farmington Hills Demographics
As of April 2025, there are 35 single-family homes advertised for sale in Farmington Hills at an
average asking price of $600,000. The average square footage is 2,400, yielding an average list
price per square foot of $250. The range of house asking prices is $175,000 to $1,700,000.
Additionally, there are 15 condominiums listed for sale averaging a $260,000 asking price and
1,300 sf, which is $195 per sf. During 2024, 685 single-family homes sold in Farmington Hills for
an average price of $350,000 or $170 per sf. The average size of a home sold was 2,060 sf. Over
the same period, 300 condominiums have sold in Farmington Hills for an average price of
$200,000 for a 1,500 sf unit size or $140 per sf.
City of Farmington Hills Demographics
• 84,000 People – 36,000 Households
• $153,000 Average Household Incomes, Twice the State of Michigan
• $115,000 Median Household Incomes
• Median Household Incomes Double the State & 30% Higher than Oakland County
• 60% Residents hold 4-year College Degrees
• 3.1% Unemployment, Lower than Oakland County – 3.7 %
City of Farmington Hills Housing Summary
• 30,000 Total Housing Units
• 60% Owner Occupied Housing -35% Rented Housing
• 5% Housing Overall Vacancy Rate
• $350,000 Median House Values - $275,000 Metro Detroit
• 60% City Housing – Single Family – 40% Multi-Family
• City Median Housing Stock – 45 Years Old
• East Grand River Avenue Housing Stock – 60 Years Old
• 35 Single-Family Homes Listed for Sale
• $600,000 Average House List Price
• 2,400 sf Average House Size
• $250 Average Single-Family House List Price per Square Foot
• Asking Prices: $175,000 to $1,700,000 (April 2025)
• 685 Single-Family Homes Sold in 2024
• $350,000 Average Single-Family Sales Price - $170 sf
• 2,060 Average Sold Single-Family House Size
• 15 Condominiums Listed (April 2025)
• $260,000 Average Condominiums Sale Price - $195 sf
• 300 Condominiums Sold 2024
• $200,000 for a 1,500 sf unit size or $140 sf Condominium Sales Price
Grand River Corridor Residential Market Analysis
Gibbs Planning Group, Inc. | Indigo Retail July 2, 2026
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