Oak Park, MI housing market
Typical home value
$231K
▲ 1.8% 1 yr
Typical rent
$1,540/mo
▲ 2.4% 1 yr
Gross rent yield
8.0%
U.S. 6.3%
5-year home value change
+20%
U.S. +20%
Key takeaways
- 1The typical home in Oak Park is worth $231,276, up 1.8% over the past year and up 20% over five years.
- 2Typical rent is $1,540 a month (+2.4% YoY), a gross rent yield of 8.0% (above the Detroit, MI metro's 6.9%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,271/mo, $269 less than typical rent.
- 4Zillow forecasts the Detroit, MI metro's home values to change +1.8% over the next 12 months.
Market temperature (Detroit, MI metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 40/100, #270 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Oak Park compares
| Measure | Oak Park | Detroit, MI metro | United States |
|---|---|---|---|
| Typical home value | $231,276 | $264,316 | $366,157 |
| Home value, 1-yr change | +1.8% | +1.8% | +1.2% |
| Typical rent | $1,540 | $1,514 | $1,932 |
| Rent, 1-yr change | +2.4% | +4.2% | +2.7% |
| Gross rent yield | 8.0% | 6.9% | 6.3% |
| Price-to-rent ratio | 12.5 | 14.5 | 15.8 |
| Mortgage P&I, typical home | $1,271 | $1,453 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Oak Park rental, pre-filled.
Rent vs buy in Oak Park
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $231K home.
Landlord in Michigan? See Michigan deposit, late fee and notice rules.
Other cities in the Detroit, MI metro
Detroit, MI
$75K home$1,328 rent
▼ 5.9% 1 yr
Warren, MI
$197K home$1,369 rent
▼ 0.1% 1 yr
Sterling Heights, MI
$305K home$1,567 rent
▲ 0.9% 1 yr
Dearborn, MI
$248K home$1,861 rent
▲ 3.8% 1 yr
Clinton Township, MI
$255K home$1,297 rent
▲ 1.1% 1 yr
Canton, MI
$401K home$1,904 rent
▲ 1.2% 1 yr
Livonia, MI
$312K home$1,699 rent
▲ 2.2% 1 yr
Macomb, MI
$426K home$1,745 rent
▲ 2.4% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.