Why Live in Ferndale
Ferndale, located 11 miles north of Detroit, is a progressive city with a population of about 19,000 residents. Known for its inclusivity and sustainability, Ferndale is home to the largest free Pride Festival in Michigan, attracting a diverse community. The downtown area, centered around Nine Mile Road and Woodward Avenue, features rainbow-colored crosswalks, murals, and a variety of local businesses, offering plenty of things to do, including shopping at specialty stores, dining at all-American restaurants, and enjoying a vibrant nightlife. Parks such as Garbutt Park and Harding Park provide recreational spaces, while Martin Road Park is popular for sledding in winter. Homes in Ferndale, ranging from Tudor Revivals to bungalows built between the 1920s and 1940s, sell faster than the national average and are more affordable compared to nearby cities. The city hosts several events, including the Woodward Dream Cruise and various art fairs. Ferndale is well-connected by major thoroughfares like Interstate 75 and 696, and offers transportation options including car, bus, and bike lanes. The Ferndale Police Department employs a community-centered approach to safety, with initiatives like the Community Engagement Officer and Street Corner Round Tables. The city experiences all four seasons, with warm summers and snowy winters, and is prone to flooding during heavy rains.
Frequently Asked Questions
What is the average home price in Ferndale, MI?
Homes for sale in Ferndale, MI have an average home price of $285,036.
How many homes have sold over the last 12 months in Ferndale, MI?
291 homes have sold in Ferndale, MI over the last 12 months.
What are the most popular zip codes in Ferndale, MI?
How much do you need to make to afford a house in Ferndale?
The median home price in Ferndale is $265,000. If you put a 20% down payment of $53,000 and had a 30-year fixed mortgage with an interest rate of 6.77%, your estimated principal and interest payment would be $1,380 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $59K a year to afford the median home price in Ferndale.
How are the schools in Ferndale, MI?
Home Trends in Ferndale, MI
On average, homes in Ferndale, MI sell after 32 days on the market compared to the national average of 50 days. The median sale price for homes in Ferndale, MI over the last 12 months is $258,000, up 3% from the median home sale price over the previous 12 months.
Median Sale Price
$258,000
Median Single Family Sale Price
$255,000
Median Townhouse Sale Price
$315,101
Median 2 Bedroom Sale Price
$355,000
Average Price Per Sq Ft
$238
Number of Homes for Sale
45
Last 12 months Home Sales
291
Median List Price
$265,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
3%
