salaryRent is higher than in 59% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. It is a highly educated city: 57.9% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $73,400 a year. That is $35 an hour at a full-time job.
Is rent cheaper than other Michigan cities?
No. Rent here is more expensive than in most of Michigan. It is number 157 of 179 cities from cheapest to most expensive.
How much do households earn in Ferndale?
Share of households by yearly income. 34.9% of households earn $100,000 or more.
Rent by apartment size in Ferndale
| Size | Ferndale | U.S. average |
|---|---|---|
| Studio | $1,160 | $1,338 |
| 1 bedroom | $1,055 | $1,324 |
| 2 bedrooms | $1,608 | $1,509 |
| 3 bedrooms | $1,884 | $1,698 |
| 4 bedrooms | $1,685 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Ferndale overall?
Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Ferndale, so the Michigan figure is shown.
Taxes and bills in Ferndale
Life in Ferndale
Is it cheaper to rent or buy in Ferndale?
Buying is cheaper month to month: about $116 a month less than renting.
Owning assumes a typical $247,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $24,770 for the down payment.
Frequently asked questions
What is the average rent in Ferndale, MI?
Renting in Ferndale costs a median of about $1,835 a month in 2026, including utilities. The Michigan median is $1,314.
How much do I need to make to live in Ferndale?
To keep rent under 30% of income, you need about $73,400 a year, or $35 an hour at a full-time job.
Is Ferndale cheap or expensive?
Ferndale is rated OK: rent takes 21.6% of the typical household income of $102,069. It ranks 157th cheapest of 179 Michigan cities we track.
How much are property taxes in Ferndale?
The median homeowner in Ferndale pays $3,867 a year in property taxes, about 1.56% of the median home value.
Is Ferndale more expensive than the national average?
Overall prices in Michigan are 4% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Ferndale?
The median home value in Ferndale is $247,700, about 2.4 times the typical yearly household income.
19,190 people live in Ferndale. Numbers are typical (middle) values.