Ferndale, MI Real Estate
According to census data in the year 2000 there were 10,243 housing units in Ferndale.
This represents a 0.4% growth from 10,207 in 1990.
Of those housing units, 10,243 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Ferndale is about 70.8%.
Ferndale's vacancy rate, including seasonal lodging, is about 3.6%.
Average household size is 2.23 people.
The majority of houses, apartments or condos in Ferndale were built after 1944.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.90% |
| One Bedroom | 11.90% |
| Two Bedrooms | 34.40% |
| Three Bedrooms | 42.80% |
| Four Bedrooms | 9% |
| Five Bedrooms or more | 1.20% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.38 |
| Median year structure was built | 1942 |
| Median Value of occupied units | $102,900 |
| Median Price asked for vacant units | $101,800 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.86 |
| Median year structure was built | 1953 |
| Median Monthly Rent asked for vacant units | $565 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.50% |
| Second Mortgage | 6.70% |
| Home Equity Loan | 11.20% |
| Simple Mortgage | 58% |
| Debt Free | 23.50% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 18.6% |
