Royal Oak, MI Real Estate
According to census data in the year 2000 there were 29,942 housing units in Royal Oak.
This represents a 2.7% growth from 29,163 in 1990.
Of those housing units, 29,942 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Royal Oak is about 70.1%.
Royal Oak's vacancy rate, including seasonal lodging, is about 3.5%.
Average household size is 2.06 people.
The majority of houses, apartments or condos in Royal Oak were built after 1954.
|Housing Units by Size|
|Five Bedrooms or more||1.10%|
Owned Homes, Apartments and Condos
|Average Household Size||2.24|
|Median year structure was built||1951|
|Median Value of occupied units||$150,900|
|Median Price asked for vacant units||$156,100|
Rented Homes, Apartments and Condos
|Average Household Size||1.64|
|Median year structure was built||1961|
|Median Monthly Rent asked for vacant units||$649|
Owners Finance Status
|Second Mortgage & Equity Loan||0.40%|
|Home Equity Loan||11.60%|
|Median part of Monthly Household Income dedicated to covering home ownership costs||16.9%|