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Rent To Own Homes in Ferndale, MI

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Ferndale, MI Foreclosures

How much do homes sell for in Ferndale, MI?
The average home price is currently $269,424.
In Ferndale, MI, how many homes are available?
There are currently 6 active home listings available in Ferndale.
What’s the average rental cost in Ferndale, MI?
The average rental price in Ferndale is $1,142.
What is the most expensive home in Ferndale?
The most expensive home sold in Ferndale had a price of $1,220,649.
What is currently the cheapest priced home in Ferndale, MI?
The cheapest home for sale in Ferndale is priced at $17,360.

Living in Ferndale, MI

Ferndale, MI is a thriving suburban community with a strong arts presence and inclusive culture. The area features a variety of amenities, parks, and transportation options that appeal to families and individuals alike. With its active community events and local shops, Ferndale offers a welcoming atmosphere for all.

Current Market Conditions in Ferndale, MI

The real estate market in Ferndale is currently competitive, with a steady demand for homes. The area has seen significant interest from first-time buyers and young professionals attracted by its vibrant community and urban feel. Homes are selling quickly, and properties in desirable neighborhoods are receiving multiple offers which indicates a strong buyer interest.

Recent market trends show an increase in home prices over the past year, driven by limited inventory. As demand continues to outpace supply, it’s expected that prices will remain stable or increase further in the coming months. Investors are also starting to make their presence felt in the area, seeking rental properties amid the growing popularity of Ferndale.

Home Value Estimator For Ferndale, MI

There are currently 9,667 real estate properties in Ferndale, MI, with a median automated valuation model (AVM) price of $249,148.00. 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 $269,424.00, with the most expensive house in Ferndale, MI, topping out at $1,220,649.00 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 Rent To Own Homes

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