Market Overview
Home Prices in Royal Oak Township, MI
The median home value in Royal Oak Township, MI is $149,571 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.7% compared to a year ago and up 5.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Royal Oak Township are priced64% below average. Royal Oak Township is part of the Detroit-Warren-Dearborn, MI metro area.
Over the past five years, Royal Oak Township home values have risen by approximately37.9%, reflecting strong long-term appreciation in this market.
Price History
Royal Oak Township Home Price Trend
City Comparison
Royal Oak Township vs. National Median
At $149,571, homes in Royal Oak Township cost 64% below the national median of $410,000. This makes Royal Oak Township a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Royal Oak Township?
20% Down Payment
$29,914
on $149,571
Monthly P&I
$780/mo
30-yr @ 6.8%
Total Monthly Est.
~$991/mo
incl. taxes & insurance
Income Needed
$39,640
gross annual (30% rule)
10% Down Option
$14,957
+ PMI applies
Loan Amount (20% dn)
$119,657
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Royal Oak Township, MI?
The median home value in Royal Oak Township is $149,571 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.7% year-over-year.
How much have home prices changed in Royal Oak Township?
Over the past year, home values in Royal Oak Township have increased by 4.7%. Over five years, prices have risen approximately 37.9%.
How much do I need to earn to buy a home in Royal Oak Township?
To comfortably afford the median home price of $149,571 with a 20% down payment ($29,914) at today's rates (6.8%), you'd need a gross annual income of approximately $39,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Royal Oak Township compare to the national average home price?
The national median home value is approximately $410,000. At $149,571, homes in Royal Oak Township are 64% below the national average.
What metro area is Royal Oak Township part of?
Royal Oak Township is part of the Detroit-Warren-Dearborn, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.