Grand River Growth Plan -All Gibbs for City Jan 2 2026 - Flipbook - Page 91
Farmington Hills Demographics
5-Mile Ring
Grand River Ave.
Retail Trade
Area
City of
Farmington Hills
155,000 pop.
225,000 pop.
120,000 pop.
83,000 pop.
12,000 HH
70,000 HH
100,000 HH
50,000 HH
35,000 HH
Median HH Incomes
$77,000
$70,000
$77,000 HH
$70,000
$115,000
Average HH Incomes
$105,000
$95,000
$105,000
$95,000
$153,000
Per Capita Income
$46,000
$47,000
$46,000
$45,000
$67,000
Median Age 2023
43.3
42.2
42.5
41.5
42.0
HH Incomes $100,000 +
4,500 HH
28,000 HH
42,000 HH
18,000 HH
20,000 HH
Total Businesses
1,500 Bus.
7,000 Bus.
11,000 Bus.
5,000 Bus.
4,700 Bus.
Total Workers
15.000
80,000
150,000
45,000
60,000
2024
Demographics
5-Minute
Drivetime
10-Minute
Drivetime
Population 2024
26,000 pop.
Households 2024
Figure 6: East Grand River Avenue drive-time and mile demographics.
U.S. Residential Market Overview
The U.S. residential market faces a persistent severe housing shortage, with builders struggling
to meet demand for both single-family and multi-family homes. According to a recent Freddie
Mac estimate, the nation has a shortage of 4 million housing units, driving up prices and leaving
many buyers competing for limited inventory. Rising construction costs and labor constraints
further contribute to tight supply, prompting homeowners to stay put longer.
Affordability remains a critical concern, as mortgage rates and surging home prices have
outpaced wage growth for much of the population. Nearly one in three American households
spends over 30% of its income on housing, according to the U.S. Census Bureau—a threshold
signaling cost burden. In response, demand has shifted toward smaller homes, rentals, and
other more budget-friendly options.
Developers and policymakers nationwide are exploring solutions, such as zoning reforms and
streamlined permitting to boost supply and ease affordability pressures. Some regions are also
encouraging on-site accessory dwelling units and modular construction to add lower-cost
housing. Despite these initiatives, competition remains fierce in most metropolitan areas,
including Metropolitan Detroit, underscoring the need for innovative strategies to address the
shortfall.
Grand River Corridor Residential Market Analysis
Gibbs Planning Group, Inc. | Indigo Retail July 2, 2026
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