Foreclosure Homes in Madison Heights, MI

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5 View this home at Manor Dr Madison Heights MI 48071
$265,580 EMV
Manor Dr
Madison Heights, MI 48071
3 |
EST. RENT: $1,660
AUCTION: 04-22-2024
3 |
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Madison Heights, MI Foreclosures

How much do homes sell for in Madison Heights, MI?
The average home price is currently $200,009.
In Madison Heights, MI, how many homes are available?
There are currently 10,193 active home listings available in Madison Heights.
What’s the average rental cost in Madison Heights, MI?
The average rental price in Madison Heights is $1,202.
What is the most expensive home in Madison Heights, Michigan?
The most expensive home sold in Madison Heights had a price of $1,214,800.
What is currently the cheapest priced home in Madison Heights, MI?
The cheapest home for sale in Madison Heights is priced at $22,654.

Home Value Estimator For Madison Heights, MI

There are currently 10,193 real estate properties in Madison Heights, MI, with a median automated valuation model (AVM) price of $200,772.00. 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 $200,009.00, with the most expensive house in Madison Heights, MI, topping out at $1,214,800.00 and the cheapest home in Madison Heights, MI, clocking in at $22,654.00. In other words, there’s something for every potential homebuyer or savvy investor in Madison Heights, MI!

Rent Prices 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 $1,202.00. 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.

Top Reasons To Live In Madison Heights, MI In 2024

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 48071. The estimated population per square kilometer (.62 miles) in Madison Heights is 1,628.

Cost Of Living In Madison Heights, MI

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.

Diversity And Demographics In Madison Heights, 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 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:

White 80.8%
Black / African American 8.5%
Asian 5.8%
American Indian / Alaskan Native 0.4%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 3.4%
Other 1.1%

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:

Under 10 9.9%
Aged 10-19 10.4%
20s 16.9%
30s 14.3%
40s 13.2%
50s 15.9%
60s 9.4%
70s 6.3%
80+ 3.7%

Best Schools In Madison Heights, 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 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.

Pros And Cons Of Living In Madison Heights, Michigan

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:

  • 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 Madison Heights.

Reasons To Move To Madison Heights, Michigan, In 2024

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.

Madison Heights, MI Foreclosures


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