There are currently 10,135 real estate properties in Madison Heights, MI, with a median automated valuation model (AVM) price of $211,700.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Madison Heights, 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 Madison Heights, MI, is $213,475.00, with the most expensive house in Madison Heights, MI, topping out at $1,095,600.00 and the cheapest home in Madison Heights, MI, clocking in at $22,700.00. In other words, there’s something for every potential homebuyer or savvy investor in Madison Heights, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Madison Heights, MI, is on a rollercoaster ride. The average rent price in Madison Heights, MI, is $1,203.00. Indeed, when looking to rent in Madison Heights, MI, you can expect to pay as little as $680.00 or as much as $2,220.00, with the average rent median estimated to be $1,200.00. The good news is that finding an affordable and desirable property to rent in Madison Heights, 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.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Madison Heights, MI area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Madison Heights, MI and much more. Save thousands at closing with home foreclosure listings in Madison Heights, MI — up to 75% off market value!
Madison Heights is located in Oakland, Michigan, with an estimated municipal population of 29,886 residents. All of the best foreclosed homes for sale in Madison Heights are located in the following zip code areas on Foreclosure.com: 48071. The estimated population per square kilometer (.62 miles) in Madison Heights is 1,628.
So, about how much do homes cost in Madison Heights? The most recent median value of resident-owned homes in Madison Heights is 123,502. An estimated 58.7 percent of households in Madison Heights own their homes, with an average family size of 3.08. The median household income in Madison Heights is 53,439, with17.4 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Madison Heights, the median commute time of resident workers (in minutes) is 24.3. And last, but certainly not least, are you looking for homes to rent in Madison Heights? If so, the average rent price paid by renters in Madison Heights is 967, according to recent statistics.
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 Madison Heights, 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 Madison Heights is 38.5, split between 48.5 percent male versus 51.5 female. The percentage of residents who report being married in Madison Heights is 42.4, with an average family size of 3.08.
The percentage of residents who report their race in Madison Heights is as follows:
|Black / African American||8.5%|
|American Indian / Alaskan Native||0.4%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Madison Heights? Or maybe you are searching for 55+ active adult communities in and/or near Madison Heights?
The percentage of residents who report their age in Madison Heights is as follows:
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 Madison Heights with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Madison Heights.
How do you know that living in -- or moving to -- Madison Heights is right where you need to be? Perhaps you grew up in Madison Heights or already live nearby; therefore, the decision to buy a home in Madison Heights is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Madison Heights 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 Madison Heights:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Madison Heights.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Madison Heights can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Madison Heights, meanwhile, can field multiple offers from more qualified buyers.
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