Oakland County, Michigan: What It Costs to Buy a Home
The median home in Oakland County is worth $320,400, property taxes on it run about $4,241 a year (1.32%), the FHA loan limit is $541,287, and closing on it means about $2,757 in transfer tax plus $2,835 in title insurance. Each number below opens its own page with the source and a calculator.
| Median home value | $320,400 | Title insurance at this price → |
|---|---|---|
| Property taxes (median paid) | $4,241 a year, 1.32% of value | Property tax page → |
| FHA loan limit (1 unit) | $541,287 | Loan limits page → |
| Conforming loan limit (1 unit) | $832,750 | Loan limits page → |
| Transfer tax on the median home | $2,757 (incl. County Real Estate Transfer Tax) | Michigan transfer tax page → |
| Title insurance on the median home | $1,725 owner's + $1,110 lender's | Title insurance page → |
| Recording fees (deed + mortgage) | $60 | Recording fees page → |
| Closing costs from these items | $5,652 | Closing costs page → |
| Area median income (HUD, family of 4) | $104,800; low-income limit $83,850 | Income limits page → |
Frequently asked questions
How much do homes cost in Oakland County?
The median owner-occupied home in Oakland County is valued at $320,400, per U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units).
How much are property taxes in Oakland County?
The median Oakland County homeowner pays $4,241 a year in real estate taxes, about 1.32% of the median home value ($4,430 for homes with a mortgage), per the Census Bureau's American Community Survey.
What is the FHA loan limit in Oakland County?
$541,287 for a one-unit home in 2026 (the national floor), per HUD; the conforming limit for Fannie Mae and Freddie Mac loans is $832,750, per FHFA.
What does it cost to close on a home in Oakland County?
On the $320,400 median home: transfer tax $2,757, title insurance $2,835 for both policies, recording fees about $60, about $5,652 for those items before lender fees, prepaid taxes and insurance.
What is the area median income in Oakland County?
HUD's FY 2026 median family income for Oakland County (Detroit-Warren-Livonia, MI HUD Metro FMR Area) is $104,800. A family of four counts as low income below $83,850 under HUD's 80% tier (adjusted for local housing costs, so it can sit above 80% of the median), which is the line many first-time buyer assistance programs use.
Nearby Michigan counties
- Montmorency County $142,000
- Muskegon County $180,900
- Newaygo County $178,300
- Oceana County $167,600
- Ogemaw County $138,600
- Ontonagon County $101,000
Sources
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units)
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25103 (median real estate taxes paid)
- HUD, FHA forward mortgage loan limits for calendar year 2026 (CHUMS county limits file, Mortgagee Letter 2025-23)
- FHFA, conforming loan limits for mortgages acquired in calendar year 2026, by county
Figures are computed from the documents above and rounded to the dollar. All sources.
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General information, not financial, tax or legal advice. Figures are medians and schedule computations, not quotes.
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