23rd most affordable of 199 in Metro Detroit
Cost of Living in Bingham Farms, MI
A typical home in Bingham Farms costs about $3,471 a month, 17.0% of the median household income of $244,618. That makes Bingham Farms the 7th most affordable of 56 places in Oakland County and 23rd of 199 across Metro Detroit.
- Median rent a month
- $3,501
- Median home value
- $580,500
- Owner cost with a mortgage
- $3,440
- Of income on housing
- 17.0%
Bingham Farms against Oakland County and the metro
| Census median | Bingham Farms | Oakland County | Metro Detroit |
|---|---|---|---|
| Median rent (monthly) | $3,501 | $1,376 | $1,207 |
| Median home value | $580,500 | $343,600 | $249,700 |
| Owner cost with a mortgage (monthly) | $3,440 | $1,998 | $1,720 |
| Median household income (yearly) | $244,618 | $97,760 | $76,664 |
| Share of income on housing | 17.0% | 20.7% | 22.9% |
Ranked 7th most affordable of 56 in Oakland County. See all 56.
Cost of living near Bingham Farms
The towns around Bingham Farms, each with its own page.
- Southfield Rent $1,340 · Home $236,200 179th most affordable in the metro
- Beverly Hills Rent $2,077 · Home $511,000 11th most affordable in the metro
- Franklin Rent $0 · Home $774,900 89th most affordable in the metro
- Bloomfield Township Rent $1,574 · Home $604,800 29th most affordable in the metro
- Southfield Township Rent $2,112 · Home $544,100 8th most affordable in the metro
- Lathrup Village Rent $1,483 · Home $310,600 60th most affordable in the metro
- Birmingham Rent $1,902 · Home $698,300 112th most affordable in the metro
- Bloomfield Hills Rent $3,501 · Home $947,900 158th most affordable in the metro
Living in Bingham Farms
- Homes for sale in Bingham Farms Listings and off-market deals
- Rentals in Bingham Farms Houses and apartments for rent
- Cost of living in Oakland County Every town in the county, ranked
- Most affordable cities in Metro Detroit All six counties, ranked
- Bingham Farms city guide Pros, homes and city services
Bingham Farms cost of living questions
5 questions
Is Bingham Farms, MI expensive to live in?
A typical home in Bingham Farms takes 17.0% of the median household income, against 22.9% across Metro Detroit, which ranks it 23rd most affordable of 199 places.
What is the average rent in Bingham Farms?
The median gross rent is $3,501 a month, rent plus the utilities the renter pays, 190% above the metro.
How much does a house cost in Bingham Farms?
Owners put the median home value at $580,500, 132% above the metro. With a mortgage, the median owner pays $3,440 a month for the mortgage, taxes, insurance and utilities.
What income do you need to live in Bingham Farms?
Spending no more than 30% of income on housing, the usual rule, a typical Bingham Farms home at $3,471 a month calls for about $139,000 a year. The median household here earns $244,618.
Where do these numbers come from?
The U.S. Census Bureau's American Community Survey 2020-2024 5-year estimates for Bingham Farms. They are medians, half above and half below, and today's listings and rents can differ.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates.