The ZIP Code maps and database are updated 4 times per year.
Database updated: April 1, 2020, Maps updated: May 1, 2020.
HOUSING AFFORDABILITY INDEX
|Royal Oak, MI 48073 Housing Affordability Index is 158 |
State of Michigan Housing Affordability Index is 142
|The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.|
|Royal Oak, MI 48073 Wealth Index is 111 |
State of Michigan Wealth Index is 92
|The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.|
These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.
More Tools and Resources:
|Total Population||33,327 (100%)|
|Population in Households||33,091 (99.3%)|
|Population in Families||22,521 (67.6%)|
|Population in Group Quarters1||236 ( 0.7%)|
|Median Household Income||$76,591|
|Average Household Income||$97,985|
|Per Capita Income||$47,983|
|Total Housing Units||17,552 (100%)|
|Owner Occupied HU||11,373 (64.8%)|
|Renter Occupied HU||4,943 (28.2%)|
|Vacant Housing Units||1,236 ( 7.0%)|
|Median Home Value||$217,544|
|Housing Affordability Index3||158|
|Average Household Size||2.03|
|Average Family Size||3|
GROWTH RATE / YEAR
|Median Household Income||3.53%|
|Per Capita Income||3.33%|
The table below compares 48073 to the other 986 ZIP Codes in Michigan by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
|Total Population||# 65||94th|
|Population Density||# 47||95th|
|Diversity Index||# 268||73rd|
|Median Household Income||# 110||89th|
|Per Capita Income||# 46||95th|
Additional comparisons and rankings can be made with a VERY EASY TO USE Michigan Census Data Comparison Tool.