Cost of Living in Farmington Hills, MI
Population: 83,316 • 2026 Data
$101,863
Median Household Income
+32% vs national
$1,475
Median Monthly Rent
+9% vs national
$333,200
Median Home Value
-2% vs national
5.0%
Unemployment Rate
Housing in Farmington Hills
The median home value in Farmington Hills, MI is $333,200. Monthly rent for a typical unit averages $1,475, while total monthly housing costs (including utilities and insurance) average $1,522.
Rent-to-income ratio: 17.4%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Farmington Hills, MI is $101,863. The unemployment rate stands at 5.0%, with a labor force of 46,922 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.