Interested in purchasing investment houses in the 48073 zip code in Royal Oak, MI?
The zip code 48073 is in Oakland county with a latitude of -83.164360000000 and longitude of 42.519200000000, is in the state of Michigan. The average asking price of houses and condos is $132,402.00 and the average sale price was $119,385.00. this regions is classified as the Detroit metro area and consists of the following area codes: 248 and 947. The location in degrees is 42° 31' 9.12" N, 83° 9' 51.696" W. The county F.I.P.S. is 26125. This zip code contains four cities including Royal Oak, MI (96.99%), Berkley, MI (2.89%), Clawson, MI (0.12%), and Troy, MI (0.00%) The total land area is 7.4 square miles and the water area is 0.0 square miles. The elevation in this area is 646 - 725 feet. The zip code is on eastern standard time and observes daylight savings time.
The zip 48073 is in county number 125 and is L. Sector 00, L. Segment 01, H. Sector 56, and H. Segment 56. The population was 35,078 in 2019 and 32,798 in 2010. This further breaks down to 17,499 males (49.9%) and 17,579 females (50.1%). The median age of residents is 37.3 years. The population of the greater Detroit-Warren-Livonia, MI area is 4,473,111. The population density (people per square mile) is 4,756. This zip code has a combined total of 18,097 houses and condos. There are 5,658 rented appartments. 34% of residents rent versus the 34% of residents in the state who rent.
The financial status of those living in this area is considered middle class. The average individual gross adjusted income is $59,987 and the average salary is $56,691. The median household income of individuals is $65,304.00 and the average is $78,680.00. This zip code has a mean commute time to work of 25.4 minutes. The unemployment rate is 2.9%. Income earners by percent breakdown as 37.30% (Under $50,000), 35.00% ($50,000-$100,000), and 27.70% earn over $100,000. 6.4% of residents live below poverty line versus the 13.0% in the state that are below this line. The cost of living index is 89.8. The educational breakdown is 97.0% have a high school education or higher, 56.9% have a bachelor's degree or higher, and 22.7% have some kind of profesional degree.
This area has 15,942 households and the average size is 2.1 people. Individuals who are single and have never been married are 38.8%, 45.3% are now married, 0.5% are separated, 5.2% are widowed, and 10.1% are divorced. The average yearly contribution amount given by people to charity was $2,521 versus the state average of $4,225. The percent of residents who gave to charity was 32.2%.
The estimated median value of houses and condos is $240,500. The median monthly owner costs of mortgage holders was $1,539, where as the costs for those who don't have a mortgage are $537. The median number of rooms in houses and condos are 6.1 versus apartments which had a median number of 4.1.
The real estate tax percent rate is 1.5% which equated to an average real estate tax amount payment of $3,635. In comparision, the average real estate tax percent rate in the state is 1.4% which equated to an average real estate tax amount payment in the state of $2,455. The median housing property tax percent for residents with mortgages was 1.5% which amounted to an average tax amount of $3,837. Conversely, the median housing property tax percent for residents who don't have mortgages was 1.5% which amounted to an average tax amount of $3,266. Reported taxable interest for persons was $997, dividends $3,834, capital gains +$2,061, and itemized deductions $17,936. The average earned income tax credit is $1,513. The percent of individuals that use a tax preparer is 51.4%. The total average income taxes paid by individuals was $7,413. Businesses reported an average profit of $12,703.
Kyoto Japanese Steak House
1824 W 14 Mile Rd, Royal Oak, MI 48073
Col's Place Royal Oak
2600 W 14 Mile Rd, Royal Oak, MI 48073
Royal Oak
30955 Woodward Ave Ste 415, Royal Oak, MI 48073
Panera Bread
30955 Woodward Ave Ste 120, Royal Oak, MI 48073
Clawson Steak House
56 S Rochester Rd, Clawson, MI 48017 (1.3 miles away)
When my husband passed away suddenly, I was left with a home I had to sell fast. The experts from We Buy Homes dealt with me professionally, fairly, and honestly. I didn’t have to list my house and I didn’t have to deal with strangers walking through my home. And I didn’t have to pay a realtor! They handled everything and that provided the peace of mind I needed during such a difficult time. I highly recommend them!
