Oakland County, Michigan
Mortgage Lender in Madison Heights, MI
Local mortgage guidance for Madison Heights buyers and homeowners, with options shopped across multiple wholesale lenders and one Michigan broker who stays with your file.
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Buying a home in Madison Heights
Packed into just 7.2 square miles, Madison Heights is one of Oakland County's densest inner-ring suburbs, an "Automation Alley" hub where 1,300-plus commercial and industrial businesses share space with tidy postwar neighborhoods. Tier 1 and Tier 2 automotive suppliers, the corporate home of Hungry Howie's Pizza, and a thriving Asian-American commercial corridor along John R Road keep the local economy busy and varied. Landmarks like the 38,000-square-foot 168 Asian Mart, the 24-hour Telway Hamburger System, and nearby Red Oaks County Park give the city real character. With a 2026 population near 28,741 and a median household income of $69,503, 48071 stays one of the more attainable doorsteps into the Royal Oak / Troy corridor, and that affordability is exactly where Align Lending helps buyers move fast.
By the numbers
Madison Heights housing and mortgage snapshot
Values move. Treat these as orientation and let us pull current figures for the address you are considering.
$225,000
Typical home value, from the market research on this page
+68%
Typical rise in taxable value the year after a home sells, 2026 Uncapping Study
1.18%
Effective property tax rate, as a share of value
1
Residential ZIP codes
What financing looks like in Madison Heights
At the ~$221,000 median, you'll generally want $70,000-$80,000 in household income to qualify comfortably (assuming ~10-20% down, rates near 7%, plus taxes and insurance). Since the local median income is $69,503, the typical home sits right at the edge of affordability, which is where down-payment help earns its keep. Madison Heights property taxes run an effective ~1.18%, above the Michigan median, with total residential millage of roughly 58.5-67.5 mills depending on school district and homestead status. Michigan's MSHDA MI Home Loan offers up to $10,000 in down-payment assistance, and because nearly every 48071 home falls under MSHDA's $566,355 statewide sales price limit, this ZIP is a strong conventional/FHA market, jumbo loans almost never come into play here.
Nearly every Madison Heights purchase fits well under the 2026 conforming limit of $832,750, so loan size is rarely the constraint.
The market
The Madison Heights housing market
Homes in ZIP 48071 carry a median price around $221,000, with citywide figures running roughly $225,000-$230,000. Prices cooled about 6.2% year-over-year over the three months ending May 2026, a rare softening that gives buyers some negotiating room in an otherwise tight Oakland County market. Listings average roughly 23 days on market, up from about 18 a year earlier, though well-priced, move-in-ready homes still trade in around two weeks. Demand is driven by relative affordability, an I-75 location minutes from Royal Oak and Troy, and a short hop to downtown Detroit. Lining up financing before you tour remains the difference between winning and watching.
Where to look
Madison Heights neighborhoods
Downtown Madison Heights ($150,000-$220,000)
the central core (~3,600 residents) of older detached homes, long the city's most affordable entry point and now rising with the market.
Royal Madison ($200,000-$300,000)
a northeast pocket bordering Royal Oak's Vinsetta neighborhood that commands a premium for its Royal Oak-adjacent address.
Tuxedo Park Sub ($180,000-$260,000)
an established platted subdivision of mid-century brick ranches and bungalows.
Northview Sub ($190,000-$270,000)
a north-side subdivision falling largely within the higher-rated Lamphere boundary.
North of Gardenia / Lamphere side ($210,000-$290,000)
homes north of Gardenia Avenue feed Lamphere Public Schools (~7/10, ~87% graduation rate) and typically sell at a $15K-$30K premium over comparable Madison District Public Schools homes to the south. Either way, downtown Detroit is just 12-14 miles, about 15-25 minutes via I-75, or roughly 45 minutes on SMART bus line 495.
Michigan property taxes
Madison Heights property taxes after you buy
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 Madison Heights, our 2026 Uncapping Study found taxable value typically rises about 68% the year after a sale: roughly $2,960 more in first-year tax on a $300,000 home at the local homestead millage. We build your payment on that post-sale number.
In Samantha's words
I'd much rather somebody ask me, "Why are your taxes higher than what I'm seeing online?" than have them build a housing budget around the wrong assumption.
Local resources
Check Madison Heights records yourself
The official offices behind the tax and school details on this page.
- City of Madison Heights Assessing Department, for parcel records and current taxable value
- Lamphere Public Schools, for district boundaries and enrollment
- Oakland County Treasurer, property taxes, for county property tax records
What our clients say
Align Lending helped make purchasing my home in Madison Heights a smooth experience. I appreciated the regular updates and clear explanations along the way.
I highly recommend Align Lending to anyone looking for a mortgage broker in Southeast Michigan. The team was knowledgeable, responsive, and easy to work with.
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.
Samantha was extremely helpful during my home loan process in Novi. Communication was quick, the instructions were clear, and everything stayed on track through closing.
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 was absolutely amazing! She far exceeded any expectations we had. Samantha was our biggest cheerleader throughout the entire home buying process! It literally felt like my best friend was helping us navigate and cheering us on from start to finish. I would recommend her and the team to anyone; you will be in THE best hands. She is so knowledgeable and kind. This was the best, easiest and least stressful mortgage process ever.
Individual experiences. Results vary.
Madison Heights mortgage questions
If yours is not here, ask it on the call. There are no dumb questions.
What is the median home price in Madison Heights, MI 48071?
As of spring 2026, homes in the 48071 ZIP code sell for a median of about $221,000, with citywide figures running roughly $225,000-$230,000. Prices were down about 6.2% year-over-year over the three months ending May 2026, making it one of the more affordable Oakland County markets.
How fast do homes sell in Madison Heights?
Homes in ZIP 48071 are averaging about 23 days on market in 2026, up from roughly 18 days a year earlier. Well-priced, move-in-ready homes still go quickly-some in around two weeks-so buyers should be prepared to act and have financing lined up.
What are the property taxes like in Madison Heights?
The effective property tax rate is about 1.18%, higher than the Michigan median of roughly 1.05%. Total residential millage ranges from about 58.5 to 67.5 mills depending on your school district and whether the home is your homestead (principal residence). On a $221,000 home, plan for an effective tax bill in the ballpark of $2,600 per year, though Michigan’s taxable-value cap matters once you own.
Which school district will my home be in?
It depends on location relative to Gardenia Avenue. Homes north of Gardenia feed Lamphere Public Schools (rated about 7/10 with an ~87% graduation rate), while homes south of Gardenia are served by Madison District Public Schools. The Lamphere boundary typically adds a $15,000-$30,000 premium to otherwise comparable homes, so confirm the district before you buy.
How much income do I need to buy a typical Madison Heights home?
Roughly $70,000-$80,000 in household income lets you comfortably qualify for the ~$221,000 median home, assuming about 10-20% down, current rates near 7%, plus taxes and insurance. The local median household income is $69,503, so the median home sits right at the edge of affordability-which is why down-payment assistance can make a real difference here.
Are there first-time buyer programs that work in Madison Heights?
Yes. Michigan’s MSHDA MI Home Loan offers up to $10,000 in down-payment assistance as a zero-interest, no-monthly-payment second loan. You’ll generally need a 640+ credit score, a homebuyer education course, at least 1% of your own funds, and a purchase price under the state limit ($566,355 statewide since June 1, 2026)-which most Madison Heights homes fall well below, making the ZIP a strong fit for first-time buyers.
Communities near Madison Heights
Oakland County overviewTalk with a local mortgage expert
Tell Samantha what you are trying to do in Madison Heights and she will tell you what actually matters for your situation, including whether the timing is right.
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Tell us what you are trying to do
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We look at your situation
A licensed Align loan officer works out what matters most for you specifically.
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You leave with a plan
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.
