Interested in purchasing investment houses in the 48331 zip code in Farmington, MI?
The zip code 48331 is in Oakland county with a latitude of -83.408530000000 and longitude of 42.504000000000, is in the state of Michigan. The average asking price of houses and condos is $305,730.00 and the average sale price was $191,680.00. 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° 30' 14.4" N, 83° 24' 30.708" W. The county F.I.P.S. is 26125. The total land area is 9.3 square miles and the water area is 0.0 square miles. The elevation in this area is 846 - 925 feet. The zip code is on eastern standard time and observes daylight savings time.
The zip 48331 is in county number 125 and is L. Sector , L. Segment , H. Sector , and H. Segment . The population was 21,605 in 2019 and 21,503 in 2010. This further breaks down to 10,220 males (47.3%) and 11,384 females (52.7%). The median age of residents is 46.3 years. The population of the greater Detroit-Warren-Livonia, MI area is 4,473,111. The population density (people per square mile) is 2,326. This zip code has a combined total of 8,998 houses and condos. There are 1,737 rented appartments. 20% of residents rent versus the 20% 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 $102,862 and the average salary is $85,301. The median household income of individuals is $119,171.00 and the average is $142,200.00. This zip code has a mean commute time to work of 26.8 minutes. The unemployment rate is 3.0%. Income earners by percent breakdown as 13.00% (Under $50,000), 26.10% ($50,000-$100,000), and 60.90% earn over $100,000. 4.4% of residents live below poverty line versus the 13.0% in the state that are below this line. The cost of living index is 91.9. The educational breakdown is 98.1% have a high school education or higher, 67.2% have a bachelor's degree or higher, and 32.0% have some kind of profesional degree.
This area has 8,387 households and the average size is 2.5 people. Individuals who are single and have never been married are 23.6%, 62.9% are now married, 0.7% are separated, 5.2% are widowed, and 7.6% are divorced. The average yearly contribution amount given by people to charity was $5,019 versus the state average of $4,225. The percent of residents who gave to charity was 45.7%.
The estimated median value of houses and condos is $341,676. The median monthly owner costs of mortgage holders was $2,121, where as the costs for those who don't have a mortgage are $877. The median number of rooms in houses and condos are 7.8 versus apartments which had a median number of 4.4.
The real estate tax percent rate is 1.6% which equated to an average real estate tax amount payment of $5,570. 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 1.6% which amounted to an average tax amount of $5,576. Conversely, the median housing property tax percent for residents who don't have mortgages was 1.6% which amounted to an average tax amount of $5,581. Reported taxable interest for persons was $2,546, dividends $7,330, capital gains +$8,711, and itemized deductions $27,627. The average earned income tax credit is $1,741. The percent of individuals that use a tax preparer is 63.8%. The total average income taxes paid by individuals was $12,122. Businesses reported an average profit of $21,393.
Taste of Asia
37682 N Twelve Mile Rd, Farmington, MI 48331
Outback Steakhouse
6203 Orchard Lake Rd, West Bloomfield, MI 48322 (2.9 miles away)
Buffalo Wild Wings
31205 Orchard Lake Rd, Farmington Hills, MI 48334 (3 miles away)
Breakfast Club
38467 W 10 Mile Rd, Farmington, MI 48335 (3 miles away)
Samurai Steakho use
32821 Grand River Ave, Farmington, MI 48336 (3.5 miles away)
Black Rock Bar and Grill
44175 W 12 Mile Rd, Novi, MI 48377 (3.6 miles away)
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