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Oakland County, MI

RANK #354 / 996  ·  POP 1,272,264  ·  MI

PROJECTED GROWTH: +1.3%

Oakland County sits in the middle of the pack — stable but not accelerating.

[01] Why Oakland County?

Oakland County, Michigan, stands out for its numerous lakes, boasting over 1,400 natural lakes, more than any other county in the state. This feature contributes to its reputation as a haven for outdoor enthusiasts. Located just north of Detroit, the county offers a blend of suburban and urban environments. Commute times average around 26 minutes, with access to major highways and public transit options like SMART bus services and local providers. Communities range from vibrant downtowns like Royal Oak and Birmingham to more tranquil villages and rural areas, providing diverse living experiences. The county also contains the headwaters of five major rivers, further enhancing its natural scenery.

Life in Oakland County is characterized by a high quality of life, with residents benefiting from well-regarded public schools and numerous parks and trails. Families are drawn to the area for its educational opportunities and safe neighborhoods. The economy is driven by a diverse range of sectors, including automotive, technology, healthcare, and finance. Recent economic developments show investment flowing into advanced manufacturing, aerospace and defense, and mobility. There is also a focus on supporting small businesses and redeveloping areas like downtown Pontiac.

[02] Market Snapshot

Housing Ratio
3.3x

Undervalued relative to economy

GDP Growth
+0.7%

Well below national median

Home Prices
+3.0%

Outpacing national median

Climate & Terrain
-1.8

Below-average climate & terrain

Price/Rent
15x

Above national median (13x)

Housing looks undervalued at 3.3x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Oakland County U.S. National

The Numbers

DEMOGRAPHICS
Population
1,272,264
+0.02% YoY
Median Household Income
$92,620
Median Home Value
$302,800
+2.96% 12mo
Median Rent
$1,243
Average Annual Pay
$77,917
+3.3% YoY
Employment
723,862
-0.3% YoY
Income-to-Home-Value
0.3059
More affordable than average
Migration Inflow
2.91%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$338,000
Days on Market
41
Moderate pace
Months of Supply
2.4
Seller's market
Sale-to-List Ratio
98.3%
Near asking price
Sold Above List
26.2%
Listings w/ Price Drops
20.0%
Building Permits (2024)
2,886
Single-Family Permits
1,870

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$1,677M
TOTAL
PROJECT AMOUNT STATUS
Project Flex (Hyperscale Data Center)
Verrus (subsidiary of Sidewalk Infrastructure Partners, backed by Alphabet)
$1,000M Proposed
Woodson Energy Storage (Battery Energy Storage System)
Vesper Energy
$300M Planned
Four Cities Metro Pipeline Project
Consumers Energy
$182M Under Construction
Astemo Americas, Inc. Regional Headquarters and Tech Center
Astemo Americas, Inc.
$95M Planned
Pontiac Redevelopment Project (Phoenix Center Demolition & GM Building Renovation)
Oakland County, City of Pontiac, Endeavour Pontiac Partners, LLC
$50M Under Construction
Affordable Housing Developments (Unity Park, Auburn Place, Beacon Place, Royal Oak Cottages, Westwood South Apartments, Casa Del Rey Apartments)
Community Housing Network, Lighthouse, Cartessa Real Estate Company, others
$50M Under Construction

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +0.7% 14 percentile
Population Growth +0.0% 31 percentile
Income Growth +7.3% 23 percentile
Vacancy Rate 1.1% 46 percentile
Home Price Change +3.0% 71 percentile
Rent Growth +1.8% 32 percentile
Price/Rent 15x 35 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Oakland County, MI a good place to move to?

Oakland County has a Boom Town Index score of 64/100, ranking #354 among 996 U.S. counties. With job growth at -0.3% and a median household income of $92,620, it's an above-average county on economic indicators.

Is Oakland County affordable?

The median home value in Oakland County is $302,800 with median rent at $1,243/month. The income-to-home-value ratio is 0.3059, which is more affordable than the national average.

Is Oakland County growing or shrinking?

Population growth: +0.0% year-over-year. Job growth: -0.3%. Home values changed +3.0% in the past 12 months.

Are people moving to Oakland County?

Yes — 2.91% of Oakland County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Wayne County, OH 74 Franklin County, MO 74 Nye County, NV 74 Erie County, OH 74 Schuylkill County, PA 74 St. Clair County, IL 74 Elkhart County, IN 74 Linn County, IA 74