Oakland County, Michigan
Local mortgage guidance for Oxford buyers and homeowners, with options shopped across multiple wholesale lenders and one Michigan broker who stays with your file.
Drive north on M-24 past downtown Oxford's two-block stretch of taverns and shops and you leave the village behind for Oxford's rural, lake-laced backcountry. This is where the sand-and-gravel pits that earned Oxford its "Gravel Capital of the World" nickname give way to waterfront homes ringing Lakeville, Davison, Tan, and Seymour lakes. Unlike the compact Village of Oxford (population ~3,492), 48370 is mostly unincorporated Oxford Township: large lots, hobby farms, and lakefront estates. Local paychecks come from Oxford Community Schools, Genisys Credit Union's Oxford headquarters, the aggregate industry, and the downtown DDA district, with many residents commuting to GM's Orion Assembly plant just south in Lake Orion. The result is a distinctly higher-priced, lake-driven market than the in-village 48371 ZIP next door.
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
Residential ZIP codes: 48370, 48371
To comfortably carry the ~$556K median with 20% down at prevailing rates, including Oakland County taxes and insurance near a 28% front-end ratio, plan on roughly $160,000-$175,000 in household income; a more typical $350K Oxford home needs closer to $105K-$115K. On taxes, most of 48370 sits in unincorporated Oxford Township, where homestead millage runs in the mid-30s, meaningfully lower than the incorporated Village's ~60 mills. First-time buyers may qualify for MSHDA down-payment assistance, and at this price point many Lakeville and Davison Lake buyers will cross the 2026 conforming limit into jumbo territory, worth structuring early.
Most Oxford purchases fit under the 2026 conforming limit of $832,750; only the largest homes need a jumbo loan.
Sub-markets
Oxford spans 2 residential ZIP codes, and they are different sub-markets.
The 48370 ZIP carried a median sold price near $556,500 as of May 2026, up roughly 1.8% year-over-year, well above the $300K-$400K typical of the village 48371 ZIP. That premium is driven almost entirely by waterfront: lakefront listings on Lakeville and Davison lakes routinely clear $800K, and premier estates have topped $3 million, while inland country homes start closer to $225K. Oxford overall moves in about 29 days, but the rural and lake segment is slower, Leonard-area medians have run 100+ days, so plan on 30 to 60+ days for higher-end and lake properties. Limited large-lot and waterfront inventory keeps demand firm. Named areas: Lakeville Lake area, Davison Lake / Tan Lake, Leonard / rural acreage.
The typical home in 48371 is valued near $405,000 (Zillow), up about 5.4% over the trailing year. Inventory moves fast, homes generally go to pending in roughly 14 days, a sign of tight supply against persistent buyer interest. Standard single-family houses tend to land between $300,000 and $600,000, while waterfront properties on the spring-fed lakes can clear $800,000. The main demand drivers are the lakes themselves, the reputation of Oxford Community Schools, and relative affordability versus southern Oakland County suburbs. That mix keeps well-priced listings competitive, so pre-approval before touring is close to mandatory. Named areas: Royal Troon, Oxford Lakes, Willow Lakes.
Where to look
(~$450K-$1M+): Waterfront and large-lot homes in the heart of 48370; lakefront listings often exceed $800K.
(~$400K-$900K): Smaller all-sports and private lakes mixing classic cottages with newer custom builds.
(~$300K-$700K): Country properties, hobby farms, and acreage in the ZIP's northeast corner near the Village of Leonard.
(~$350K-$700K): Wooded large-lot subdivisions and lake-access homes along Seymour Lake Rd.
(~$300,000 to $700,000+): Popular master-planned communities, but located in the village 48371 ZIP, listed here for buyers comparing the two.
(~$450,000-$750,000): Upscale subdivision with homes overlooking Dunblane Lake.
(~$300,000-$500,000): Established subdivision built around a private ~115-acre no-wake (electric-motor) lake.
(~$350,000-$600,000): Residential subdivision in the Oxford area.
(~$300,000-$550,000): Lake-oriented community and condominiums.
Most of 48370 is served by Oxford Community Schools (~9 schools, anchored by Oxford High School and multiple Michigan Blue Ribbon honors); far-eastern Leonard-area parcels can fall into Romeo Community Schools. All of these feed into Oxford Community Schools (~5,700 students PK-12, rated above average for Oakland County).
Downtown Detroit is about 40-42 miles south, a 45-55 minute drive via M-24 to I-75.
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 Oxford Township, our 2026 Uncapping Study found taxable value typically rises about 36% the year after a sale: roughly $1,530 more in first-year tax on a $300,000 home at the local homestead millage. We build your payment on that post-sale number.
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
The official offices behind the tax and school details on this page.
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The 48370 ZIP had a median sold price of roughly $556,500 as of May 2026, up about 1.8% year-over-year. Note that 48370 is the rural, lake-oriented part of Oxford, so it runs well above the in-village 48371 ZIP, where typical homes sell closer to $300K-$400K. Sale prices in 48370 range widely, from about $225,000 to over $3 million for premier lakefront estates.
The market moves quickly. Homes in 48371 typically go to pending in around 14 days, reflecting steady demand from Oakland County buyers drawn to the lakes and schools.
For the ~$556K median, plan on roughly $160,000-$175,000 in household income with 20% down at today’s rates, factoring in Oakland County property taxes and insurance at about a 28% housing-to-income ratio. If you target a more typical $350,000 Oxford home, you’d need closer to $105,000-$115,000. An Align Lending loan officer can pinpoint your number based on rate, down payment, and debts.
Oxford sits in Oakland County, where effective property tax is generally about 1.2%-1.6% of value. Most of 48370 is in unincorporated Oxford Township, where the homestead (principal-residence) total millage is in the mid-30s. Homes inside the incorporated Village of Oxford pay considerably more (around 60 mills homestead). Always confirm the exact rate for a specific parcel with the Oxford Township Treasurer before you budget.
Oxford Community Schools serves the area, with about 5,700 students PK-12. It rates above average for Oakland County and ranks in roughly the top 30% of Michigan districts on state testing.
Downtown Detroit is about 42 miles south, typically a 45-60 minute drive via M-24 (Lapeer Road) to I-75. M-24 is the main commuter corridor and can slow during peak hours, but Oxford remains a popular northern-Oakland-County bedroom community.
48370 is Oxford’s rural and lake country. Sought-after areas include the Lakeville Lake community, Davison Lake, Tan Lake, the Seymour Lake corridor, and acreage properties toward the Village of Leonard. Lakefront homes commonly list from the $800Ks up, while inland large-lot and country homes typically run $300K-$700K. Buyers wanting master-planned subdivisions like Waterstone or Oxford Lakes should look in the adjacent 48371 village ZIP.
Tell Samantha what you are trying to do in Oxford and she will tell you what actually matters for your situation, including whether the timing is right.
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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.
