salaryRent is higher than in 53% of U.S. cities. A typical house costs about 3.0 years of household income. It is a highly educated city: 64.1% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $68,240 a year. That is $33 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 143 of 179 cities from cheapest to most expensive.
How much do households earn in Royal Oak?
Share of households by yearly income. 39.3% of households earn $100,000 or more.
Rent by apartment size in Royal Oak
| Size | Royal Oak | U.S. average |
|---|---|---|
| Studio | $1,245 | $1,338 |
| 1 bedroom | $1,314 | $1,324 |
| 2 bedrooms | $1,618 | $1,509 |
| 3 bedrooms | $2,338 | $1,698 |
| 4 bedrooms | $2,302 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Royal Oak 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 Royal Oak, so the Michigan figure is shown.
Taxes and bills in Royal Oak
Life in Royal Oak
Is it cheaper to rent or buy in Royal Oak?
Renting is cheaper right now: about $575 a month less.
Owning assumes a typical $328,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $32,870 for the down payment.
Frequently asked questions
What is the average rent in Royal Oak, MI?
Renting in Royal Oak costs a median of about $1,706 a month in 2026, including utilities. The Michigan median is $1,314.
How much do I need to make to live in Royal Oak?
To keep rent under 30% of income, you need about $68,240 a year, or $33 an hour at a full-time job.
Is Royal Oak cheap or expensive?
Royal Oak is rated Cheap: rent takes 18.8% of the typical household income of $109,046. It ranks 143rd cheapest of 179 Michigan cities we track.
How much are property taxes in Royal Oak?
The median homeowner in Royal Oak pays $4,203 a year in property taxes, about 1.28% of the median home value.
Is Royal Oak 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 Royal Oak?
The median home value in Royal Oak is $328,700, about 3.0 times the typical yearly household income.
57,950 people live in Royal Oak. Numbers are typical (middle) values.