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Rent To Own Homes in Ferndale, MI 48220

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Living in Ferndale, MI

Ferndale, MI is a charming suburb known for its eclectic downtown area filled with unique shops and eateries. This family-friendly community boasts excellent schools, numerous parks, and a rich cultural scene. With easy access to Detroit and a tight-knit community vibe, it's an attractive place for new residents.

Current Market Conditions in Ferndale, MI

The real estate market in Ferndale has been experiencing steady growth, with an increase in home values over the past year. The demand for housing continues to rise, driven by the area's appealing urban-rural mix and accessibility to the city.

Recently, there has been a trend towards renovations and upgrades in older homes, as buyers seek to blend character with modern convenience. New constructions are also emerging, responding to the influx of new residents looking to settle in Ferndale.

Home Value Estimator For Ferndale, MI

There are currently 9,669 real estate properties in Ferndale, MI, with a median automated valuation model (AVM) price of $256,393.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Ferndale, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Ferndale, MI, is $276,890.00, with the most expensive house in Ferndale, MI, topping out at $1,243,230.00 and the cheapest home in Ferndale, MI, clocking in at $17,360.00. In other words, there’s something for every potential homebuyer or savvy investor in Ferndale, MI!

Rent Prices In Ferndale, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Ferndale, MI, is on a rollercoaster ride. The average rent price in Ferndale, MI, is $1,142.00. Indeed, when looking to rent in Ferndale, MI, you can expect to pay as little as $720.00 or as much as $2,360.00, with the average rent median estimated to be $1,130.00. The good news is that finding an affordable and desirable property to rent in Ferndale, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Ferndale, MI 48220 Rent To Own Homes

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