Cost of Living in Royal Oak, MI
Population 57,950 · Census ACS 2020–2024 5-year estimates
The median rent in Royal Oak, MI is $1,381/month, 22% higher than the Michigan median and 2% lower than the U.S. median. The median home value is $328,700, about the same as the national median. Households earn a median of $101,109 a year, 39% higher than the state median.
Affordability
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Royal Oak vs. Michigan vs. U.S.
| Royal Oak | Michigan | U.S. | |
|---|---|---|---|
| Median rent | $1,381 | $1,129 | $1,413 |
| Median home value | $328,700 | $231,600 | $332,700 |
| Median household income | $101,109 | $72,875 | $80,734 |
| Homeownership rate | 68.0% | 73.2% | 65.2% |
| Bachelor's degree or higher | 64.1% | 32.4% | 35.7% |
| Poverty rate | 6.2% | 13.2% | 12.5% |
| Unemployment rate | 3.5% | 5.7% | 5.2% |
| Work from home | 27.4% | 13.5% | 15.1% |
| Median age | 36.9 | 40.2 | 38.9 |
FAQ
What is the average rent in Royal Oak, MI?
The median gross rent in Royal Oak, MI is $1,381 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Royal Oak, MI?
Using the common 30% rule, renting a median-priced home takes about $55,240 a year in gross income.
Is Royal Oak, MI expensive to live in?
Rent there is 2% lower than the U.S. median, and the median home costs about 3.3 times the median household income.
Other cities in Michigan
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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