Royal Oak, Michigan is a part of the Oak Park/Royal Oak Submarket submarket area, and contains 3 zip codes: 48068, 48073, and 48067.
The 2019 average effective rent for Class A, B, and C apartments in the Royal Oak, MI submarket area was $903, which is 17.89% higher than 2014 average rent. This represents a compounded annual growth rate of 3.35%. 2019 vacancy in Royal Oak, MI was 2.40%.
The total population of the city of Royal Oak, MI has grown 3.89% since 2010. As of 2018, the population was 59,461. The median household income of the Royal Oak was $78,741, which is 30.60% higher than the national average.