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Preforeclosure Homes in Bingham Farms, MI

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Home Value Estimator For Bingham Farms, MI

There are currently 485 real estate properties in Bingham Farms, MI, with a median automated valuation model (AVM) price of $467,600.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Bingham Farms, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Bingham Farms, MI, is $628,073.00, with the most expensive house in Bingham Farms, MI, topping out at $6,995,000.00 and the cheapest home in Bingham Farms, MI, clocking in at $275,400.00. In other words, there’s something for every potential homebuyer or savvy investor in Bingham Farms, MI!


Rent Prices In Bingham Farms, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Bingham Farms, MI, is on a rollercoaster ride. The average rent price in Bingham Farms, MI, is $2,706.00. Indeed, when looking to rent in Bingham Farms, MI, you can expect to pay as little as $1,700.00 or as much as $4,300.00, with the average rent median estimated to be $2,470.00. The good news is that finding an affordable and desirable property to rent in Bingham Farms, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.


Foreclosure Homes in Bingham Farms, MI

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Bingham Farms, MI area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Bingham Farms, MI and much more. Save thousands at closing with home foreclosure listings in Bingham Farms, MI — up to 75% off market value!


Top Reasons To Live In Bingham Farms, MI In 2021

Bingham Farms is located in Oakland, Michigan, with an estimated municipal population of 1,148 residents. All of the best foreclosed homes for sale in Bingham Farms are located in the following zip code areas on Foreclosure.com: 48025. The estimated population per square kilometer (.62 miles) in Bingham Farms is 364.


Cost Of Living In Bingham Farms, MI

So, about how much do homes cost in Bingham Farms? The most recent median value of resident-owned homes in Bingham Farms is 415,683. An estimated 89.1 percent of households in Bingham Farms own their homes, with an average family size of 2.64. The median household income in Bingham Farms is 131,071, with60.2 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Bingham Farms, the median commute time of resident workers (in minutes) is 22.6. And last, but certainly not least, are you looking for homes to rent in Bingham Farms? If so, the average rent price paid by renters in Bingham Farms is 1,000, according to recent statistics.


Diversity And Demographics In Bingham Farms, Michigan

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Bingham Farms, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Bingham Farms is 64.5, split between 48.4 percent male versus 51.6 female. The percentage of residents who report being married in Bingham Farms is 58.3, with an average family size of 2.64.

The percentage of residents who report their race in Bingham Farms is as follows:

White 83.3%
Black / African American 9.8%
Asian 1.4%
American Indian / Alaskan Native 3.7%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 1.5%
Other 0.2%

Looking for family-friendly neighborhoods in and/or near Bingham Farms? Or maybe you are searching for 55+ active adult communities in and/or near Bingham Farms?

The percentage of residents who report their age in Bingham Farms is as follows:

Under 10 4%
Aged 10-19 11%
20s 3.7%
30s 4.3%
40s 6.6%
50s 12.9%
60s 19.6%
70s 17.2%
80+ 20.7%

Best Schools In Bingham Farms, Michigan

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Bingham Farms with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Bingham Farms.


Pros And Cons Of Living In Bingham Farms, Michigan

How do you know that living in -- or moving to -- Bingham Farms is right where you need to be? Perhaps you grew up in Bingham Farms or already live nearby; therefore, the decision to buy a home in Bingham Farms is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Bingham Farms for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Bingham Farms:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Bingham Farms.


Reasons To Move To Bingham Farms, Michigan, In 2021

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Bingham Farms can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Bingham Farms, meanwhile, can field multiple offers from more qualified buyers.

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