1st Advantage MortgageIn Oakland County, Michigan, the typical household earns $97,760 a year and the typical rent is $1,376. For a Oakland County borrower, the useful steps are the same anywhere: price the need, gather three written offers, and check the Michigan license.
On this page
- Oakland County, MI: the basics
- How much Oakland County households make
- Where Oakland County works
- Oakland County housing compared with Michigan
- How Oakland County ranks in Michigan
- The counties around Oakland County
- Towns and communities in Oakland County
- Room for a loan payment in Oakland County
- What the numbers mean for Oakland County borrowers
- Oakland County households compared
- Steps before you apply in Oakland County
- Who licenses lenders for Oakland County residents
- Keep exploring
- Frequently asked questions
Oakland County, MI: the basics
Roughly 1,279,825 residents live in Oakland County, Michigan, 2nd by population among the state's 83 counties and county equivalents. Packed into 867 square miles, that is close to 1,475 residents for every square mile of land. For statistical purposes it belongs to the Detroit-Warren-Dearborn, MI metro area, as delineated by the Office of Management and Budget in July 2023. The Census Bureau counts 39 places in the county (39 incorporated, 0 census-designated); the largest is Troy, with about 87,898 residents, or 7% of the county.
How much Oakland County households make
Median household income in Oakland County: $97,760 (34% above Michigan, $72,875). That places it 3rd among Michigan's 83 county-level areas.
| Yearly household income | Oakland County | Gap to Michigan |
|---|---|---|
| Under $35,000 | 16.1% | -7.0 pts |
| $35,000 to $99,999 | 34.8% | -6.6 pts |
| $100,000 to $199,999 | 30.5% | +4.6 pts |
| $200,000 or more | 18.5% | +9.0 pts |
About 16% of households earn under $35,000, while 49% clear $100,000. Census counts 7.7% of Oakland County residents in poverty, against 13.2% across Michigan. Gini index for Oakland County: 0.467. For a borrower in Oakland County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Where Oakland County works
The biggest employer of Oakland County residents, by industry, is education and health care at 21% of workers, followed by manufacturing (20%). Professional and administrative services stands out: 15% of workers here, versus 10% statewide. Averaged over the five survey years, 4.8% of the labor force was out of work and looking. About 71% drive to work alone and 14% have trips of 45 minutes or more. No car: 5.3% of Oakland County households.
| Industry | Share of Oakland County workers | vs Michigan |
|---|---|---|
| Education and health care | 21.5% | -1.8 pts |
| Manufacturing | 19.6% | +1.4 pts |
| Professional and administrative services | 15.0% | +4.7 pts |
| Retail trade | 9.7% | -1.1 pts |
| Finance, insurance and real estate | 8.2% | +2.4 pts |
| Arts, lodging and food service | 7.1% | -1.4 pts |
Shorter commutes usually mean lower vehicle costs, which can leave more room for a payment, or for paying a loan off early.
Oakland County housing compared with Michigan
Half of Oakland County renters pay more than $1,376 a month and half pay less; the Michigan midpoint is $1,129. By the Census definition, 45% of Oakland County renters are cost-burdened. With a median value of $343,600, a typical Oakland County house costs 3.5 times what the median household earns in a year. The ownership rate is 73%.
| Cost | Oakland County | Michigan figure | Higher or lower |
|---|---|---|---|
| Rent-burdened renters | 45% | 50% | -5.6 pts |
| Median home value | $343,600 | $231,600 | 48% higher |
| Mobile homes | 2.8% | 5.0% | -2.2 pts |
| Median gross rent | $1,376/mo | $1,129/mo | 22% higher |
| Burdened owners | 22% | 23% | -1.8 pts |
| Owners | 73% | 73% | -0.5 pts |
Because most Oakland County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
How Oakland County ranks in Michigan
Out of every Michigan county, Oakland County is most unusual on these measures.
- On population, Oakland County sits near the top of Michigan at 1,279,825, 2nd highest of 83. A big county has more local lenders, so shopping around is easier.
- The share of workers who work from home: 20.2% in Oakland County. Only 1 of 83 Michigan counties are higher. Remote workers should have W-2s or contracts ready to show income.
- On median household income, Oakland County sits near the top of Michigan at $97,760, 3rd highest of 83. Higher local incomes do not change lender rules; your documented income is what counts.
- On median gross rent, Oakland County sits near the top of Michigan at $1,376/mo, 2nd highest of 83. High rent is the first thing a lender's ratio will see.
The counties around Oakland County
Macomb County is closest, 24 miles from center to center; the sixth, Washtenaw County, is 37 miles off. Income ranges from $60,539 in Wayne County to $103,039 in Livingston County; 1 of these neighbors top Oakland County's median.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Oakland County | - | $97,760 | $1,376/mo | 73% |
| Macomb County, MI | 24 mi | $77,837 | $1,211/mo | 75% |
| Wayne County, MI | 27 mi | $60,539 | $1,132/mo | 65% |
| Livingston County, MI | 27 mi | $103,039 | $1,287/mo | 87% |
| Genesee County, MI | 30 mi | $62,281 | $989/mo | 71% |
| Lapeer County, MI | 31 mi | $77,306 | $988/mo | 86% |
| Washtenaw County, MI | 37 mi | $89,180 | $1,463/mo | 62% |
Towns and communities in Oakland County
802,698 of Oakland County's 1,279,825 residents live in its 39 Census places (63%); the 14 largest are listed. Gap between richest and poorest larger place: $200,289, Bingham Farms over Pontiac. City guides exist for the linked Oakland County places; everyone else in the county can use this page.
| Community | Type | Residents | Household income (median) | Rent (median) | Distance |
|---|---|---|---|---|---|
| Troy | city | 87,898 | $120,045 | $1,602 | 13 mi |
| Farmington Hills | city | 83,515 | $104,836 | $1,551 | 12 mi |
| Rochester Hills | city | 77,089 | $120,694 | $1,644 | 11 mi |
| Southfield | city | 76,236 | $68,166 | $1,340 | 14 mi |
| Novi | city | 66,717 | $110,723 | $1,747 | 14 mi |
| Pontiac | city | 62,104 | $44,329 | $1,063 | 5 mi |
| Royal Oak | city | 57,950 | $101,109 | $1,381 | 16 mi |
| Oak Park | city | 29,318 | $71,510 | $1,396 | 17 mi |
| Madison Heights | city | 28,419 | $69,503 | $1,176 | 18 mi |
| Auburn Hills | city | 25,105 | $84,375 | $1,477 | 7 mi |
| Birmingham | city | 21,763 | $153,510 | $1,902 | 12 mi |
| Ferndale | city | 19,190 | $94,640 | $1,311 | 19 mi |
| Wixom | city | 17,295 | $65,485 | $1,035 | 12 mi |
| Berkley | city | 15,149 | $116,239 | $1,526 | 15 mi |
Room for a loan payment in Oakland County
Oakland County at the medians, through a lender's eyes (what DTI means):
- Monthly gross at the median, Oakland County: $8,147
- Housing at the median rent of $1,376 uses 17%
- 35% debt-to-income limit: $1,475 left for all other debt payments
- Under a 45% cap, $3,666 total minus rent leaves $2,290
Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.
What the numbers mean for Oakland County borrowers
Oakland County-specific points to check:
- Higher earners. 49% of households clear $100,000; shop at least three lenders and pick the shortest term.
- Getting ready. Gather pay stubs or benefit letters before you apply (checklist).
- Fraud. Gift cards, wire transfers or fees to unlock a loan mean walk away (report it).
Oakland County households compared
College graduates make up 51% of the adult population. Uninsured, Oakland County: 3.8%; Michigan: 4.9%.
| Measure | Oakland County | Gap to Michigan | Gap to typical U.S. county |
|---|---|---|---|
| Bachelor's or higher | 51.0% | +18.6 pts | +28.9 pts |
| Work from home | 20.2% | +6.8 pts | +11.6 pts |
| Poverty rate | 7.7% | -5.5 pts | -5.4 pts |
| No high school diploma | 4.9% | -3.0 pts | n/a |
| No vehicle | 5.3% | -1.7 pts | -0.1 pts |
| Median age | 41.3 | +1.1 yrs | -0.2 yrs |
| No health insurance | 3.8% | -1.1 pts | -4.0 pts |
| Unemployment (ACS) | 4.8% | -0.9 pts | +0.4 pts |
| Commute length | Oakland County |
|---|---|
| Under 15 min | 22.3% |
| 15 to 29 min | 38.2% |
| 30 to 44 min | 25.3% |
| 45 to 59 min | 8.7% |
| 60+ min | 5.6% |
Steps before you apply in Oakland County
A short checklist for Oakland County borrowers:
- Size the loan to the bill, not to the most a lender offers.
- Shop at least three lenders, including one Oakland County-area credit union.
- Check the license, then the reviews, then the offer.
- Lock paid-off cards after consolidating so balances stay at zero.
Who licenses lenders for Oakland County residents
Licensing happens at the state level, so a lender working with Oakland County borrowers answers to the Michigan Department of Insurance and Financial Services. A CFPB complaint gets forwarded to the company for a response. More on Michigan: Michigan personal loans.
Keep exploring
Guides that cover parts of Oakland County:
Frequently asked questions
What does a typical Oakland County household make?
About $97,760 a year at the median (ACS 2020-24), 34% above the Michigan median.
What is the median rent in Oakland County, MI?
$1,376 a month, utilities included, or $16,512 a year.
I own my home in Oakland County. Personal loan or HELOC?
A HELOC uses the house as collateral; a personal loan usually does not. With 73% of homes owner-occupied here, many readers can compare both in writing.
What are the biggest places in Oakland County?
By population: Troy, Farmington Hills, Rochester Hills, Southfield, Novi. The county has 39 Census places in all.
Are Oakland County applicants treated differently?
No. Everyone answers the same questions and is screened on the same objective points; lending partners set their own criteria under fair-lending laws.