Oakland County, Michigan
Local mortgage guidance for Ferndale buyers and homeowners, with options shopped across multiple wholesale lenders and one Michigan broker who stays with your file.
Ferndale packs roughly 19,500 residents into a tight, walkable inner-ring suburb where Nine Mile Road meets Woodward Avenue. The downtown core, independent shops, breweries, Two James Spirits, and the historic Magic Bag music venue, anchors a small-business, downtown-driven economy leaning on manufacturing, professional/technical services, and health care rather than one dominant employer. It also hosts the annual DIY Street Fair. The Woodward Dream Cruise rolls right through town each August. Median household income sits near $94,640, and demand from buyers who want an urban-feel suburb 11 miles from downtown Detroit keeps this ZIP competitive year-round. Align Lending finances purchases and refinances across all of 48220.
By the numbers
Values move. Treat these as orientation and let us pull current figures for the address you are considering.
Typical home value, from the market research on this page
Typical rise in taxable value the year after a home sells, 2026 Uncapping Study
Property tax current owners pay, as a share of value. A buyer's bill can reset higher the year after a sale
Residential ZIP code: 48220
To comfortably carry the $275,000 median home, plan on a household income around $80,000 to $95,000 or more once you add insurance and a buyer's property tax, which typically resets above the about 1.56% effective property tax rate current owners pay (Michigan's median is about 1.05%). That income target lands right at the local median, so the typical home is attainable for typical earners. The 2023 millage ran roughly 46.4 mills homestead versus 64.4 non-homestead. The taxable-value cap ends at a sale: the year after you buy, taxable value resets to half of the assessor's estimate of market value, so your bill is not the seller's. First-time buyers should ask us about MSHDA down-payment assistance. At this price point you are comfortably under the conforming loan limit, so most buyers use Conventional, FHA, or VA financing, jumbo rarely applies here.
Nearly every Ferndale purchase fits well under the 2026 conforming limit of $832,750, so loan size is rarely the constraint.
The market
Home values in 48220 run roughly $254,000 (Zillow's average value) to about $275,000 (Redfin's median sale price) in early 2026, the spread reflects small monthly sample sizes. Year-over-year, Zillow shows a slight dip near -0.7% while Redfin reported a volatile +19.6% jump; the longer trend is modestly positive. Speed is the real story: Zillow has homes going pending in about 14 days, and Redfin's recently-sold data shows a median near 18 days, with well-priced listings often drawing multiple offers. Demand is driven by the walkable downtown, the short Woodward commute, and the city's distinctive character, buyers compete for compact 1920s-40s bungalows that rarely sit long.
Where to look
Bungalows and updated homes steps from Nine Mile & Woodward shops and restaurants, at the upper end of Ferndale's prices. Prices run about $280,000 to $400,000 and up.
(west of Woodward, about $250,000 to $340,000), a beloved district of 1920s-40s bungalows with consistently strong demand.
A pocket around Wilson Park's walking path, ball diamond, and picnic areas. Prices run about $230,000 to $300,000.
Established residential blocks in the southeast corner of the city. Prices run about $200,000 to $270,000.
(near 8 Mile & Hilton, about $190,000 to $260,000), an affordable starter-home area, popular with first-time buyers.
Ferndale's pricing climbs toward the walkable center and eases toward the southern edges: Most of the ZIP is served by Ferndale Public Schools (PK-12, also covering Pleasant Ridge and parts of Oak Park and Royal Oak Township), while a portion falls within Hazel Park School District, which runs Webb Elementary and Jardon Vocational School in 48220.
Downtown Detroit is about 11 miles away, a 15 to 20 minute drive straight down Woodward with I-696 and M-1 access, or roughly 30 minutes on the SMART/DDOT 461 bus.
Michigan property taxes
The year after a Michigan home sells, its taxable value resets to half of the assessor's market value, so the seller's tax bill is not your tax bill.
In the City of Ferndale, our 2026 Uncapping Study found taxable value typically rises about 54% the year after a sale. On a $250,000 home, near the typical Ferndale value, that is roughly $2,180 more in first-year tax at the local median homestead millage. We build your payment on that post-sale number.
Looking at a Ferndale address? Our Michigan property tax calculator finds that property's published 2025 millage and works out the tax to plan for after you buy.
In Michigan, don't just look at the current tax bill. Understand what could happen after ownership changes.
Local resources
The official offices behind the tax and school details on this page.
Want to shout out Samantha for the expert guidance, made my first-time homebuyer experience seamless! It exceeded expectations and was a stress free process throughout. Grateful for all your help and loving my new home in Bloomfield Hills!
Samantha Shelton is amazing!! She helped me get into my first home in Ferndale. The closing process was easy I was able to take care of everything without taking a day off of work. Being a first time homebuyer was stressful but she provided clear communication and true experience guidance throughout the entire process
Can’t say enough great things about Samantha and her team at Align Lending! Highly recommend
As a first-time homebuyer in Ferndale, I was unsure of some things. Samantha was awesome. She was extremely helpful and made sure I understood every part of the process.
Individual experiences. Results vary.
If yours is not here, ask it on the call. There are no dumb questions.
As of early 2026, typical home values in 48220 run roughly $254,000 (Zillow’s average value) to about $275,000 (Redfin’s median sale price). The spread reflects small monthly sample sizes; either way, Ferndale sits a bit above the Michigan state median.
Very fast for Metro Detroit. Zillow shows homes going to pending in around 14 days, and Redfin’s recently-sold data shows a median near 18 days, with well-priced listings often drawing multiple offers. It remains a competitive market.
Current owners in Ferndale pay an effective property tax rate around 1.56%, above Michigan’s about 1.05% median. The 2023 total millage was roughly 46.4 mills for homestead (owner-occupied) and 64.4 mills for non-homestead properties. That rate reflects capped taxable values; the cap ends at a sale, and the year after you buy taxable value resets to half of the assessor’s estimate of market value, so a buyer’s bill can be higher.
To comfortably carry the $275,000 median home with property taxes plus insurance, you’d generally want a household income around $80,000 to $95,000 or more, since a buyer’s tax typically resets above the about 1.56% effective property tax current owners pay; Samantha can narrow the range for your down payment, rate and debts. That’s right around the city’s median household income of about $94,600, so the median home is attainable for typical local earners.
Most of Ferndale is served by Ferndale Public Schools (PK-12, which also covers Pleasant Ridge and parts of Oak Park and Royal Oak Township). A portion of the 48220 area falls within Hazel Park School District, which operates Webb Elementary and Jardon Vocational School in Ferndale.
Tell Samantha what you are trying to do in Ferndale and she will tell you what actually matters for your situation, including whether the timing is right.
Not what product you want. What you are actually trying to accomplish.
She works out what matters most for you specifically.
Your options, the tradeoffs, and your next step. No obligation to go further.
Align Lending LLC, NMLS #2041154. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. Figures on this page are market research for orientation, not a quote. This page is for educational purposes only. It is not a credit decision, a preapproval, a commitment to lend, or an offer of credit.
Ferndale bungalow to live in or rent out? I'll show how the millage differs.
Samantha Shelton · Broker Owner · NMLS 1647301
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Texts go to Samantha at (248) 506-5727. 7 days a week, evenings included.