ZIP Code 48331 — Farmington Hills, MI Home Prices (2026)
The typical home in ZIP 48331 (Farmington Hills, Michigan) is worth about $465,000 at roughly $203 per square foot — 28% more expensive than the Farmington Hills median and 58% more expensive than the typical U.S. home.
How 48331 compares
ZIP 48331 is one of the pricier ZIP codes in Farmington Hills: its typical home value of $465,000 ranks #1 of the 3 Farmington Hills ZIP codes we track (the citywide range runs from $308,000 in 48336 to $465,000 in 48331). Per square foot it costs about $203, against $203 for Farmington Hills as a whole, $190 for Michigan, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 48331 | $465,000 | $203 |
| Farmington Hills, MI | $362,000 | $203 |
| Michigan | $251,000 | $190 |
| United States | $294,000 | $195 |
Home value by size in 48331
Using this ZIP’s rate of about $203 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $203,000 |
| 1,500 sq ft | $304,500 |
| 2,000 sq ft | $406,000 |
| 2,500 sq ft | $507,500 |
| 3,000 sq ft | $609,000 |
Salary needed to buy a home in ZIP 48331
To buy the typical $465,000 home in ZIP 48331 with 20% down, you need a household income of roughly $127,000 a year (about $2,950 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $150,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $23,300 | $3,670/mo | $157,000/yr |
| 10% (+PMI) | $46,500 | $3,510/mo | $150,000/yr |
| 20% | $93,000 | $2,950/mo | $127,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 48331
At about $203 per square foot, here is roughly how much home different budgets get you in ZIP 48331:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $250k | 1230 sq ft | below the local median — condos, smaller or older homes |
| $300k | 1480 sq ft | below the local median — condos, smaller or older homes |
| $400k | 1970 sq ft | around the typical home here |
| $500k | 2460 sq ft | around the typical home here |
| $600k | 2960 sq ft | around the typical home here |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 48331 home.
Estimate a specific home in 48331
The estimator below is pre-set to ZIP 48331 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Farmington Hills ZIP codes by home value
Where 48331 sits among Farmington Hills’s 3 ZIP codes:
ZIP 48331 home prices: frequently asked
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See the full Farmington Hills home values page, all Michigan cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.