Foreclosure Homes in Ferndale, MI

Current Market Conditions in Ferndale, MI

The real estate market in Ferndale shows a steady increase in demand for homes due to its appealing lifestyle and proximity to Detroit. The city has attracted many young professionals and families in recent years, which has contributed to rising home prices and a competitive market. Investors are also taking interest, with many seeking to renovate and rent properties in this desirable area.

As of the latest data, the number of homes available for sale in Ferndale is limited, creating a seller's market. Properties tend to sell quickly, often above asking price, particularly those that are move-in ready or have modern updates.

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.