MonitorBankRates
☰
New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Royal Oak, MI Housing Affordability Index

Royal Oak, Michigan has an MBR Housing Affordability Index score of 108.8 (Near National Average) as of October 30, 2026, ranking 481st most affordable of 629 scored Michigan cities, compared with 108.6 statewide and 97.4 nationally. On a median-priced $328,700 home with 20% down, the Michigan average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $1,804, or 21% of the city’s $101,109 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Royal Oak is updated every night from live Michigan mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Royal Oak MBR-HAI 108.8 Near National Average
Rank in Michigan 481 of 629 1 = most affordable
Michigan 108.6 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.31% Michigan lenders
Median home value $328,700 U.S. Census Bureau

Royal Oak is 0.2 points above the Michigan score. Scores as of October 30, 2026. See the Michigan index

View Royal Oak Mortgage Rates

What It Takes to Buy in Royal Oak

$1,804/mo
Principal & Interest
Median home, 20% down, 7.31%
$77,300
Income Needed
To keep the payment at 28% of income
$101,109
Median Household Income
Michigan: $72,875
3.3x
Price-to-Income Ratio
Michigan: 3.2x
$1,524/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$4,577/yr
Median Property Tax
1.39% of median value
16.6%
Owner Cost Burden
Owners spending 30%+ of income on housing
32.4%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Royal Oak, Michigan. The rate is the Michigan average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Royal Oak Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Royal Oak, Michigan score: 108.8 (Near National Average), ranked 481 of 629 Michigan cities. monitorbankrates.com/housing-affordability-index/michigan/royal-oak”