Farmington Hills is a moderately-sized city located in the state of Michigan. The city has a population of 81,154 people. At 66%, the majority of the Farmington Hills population is White; this is followed by 20% Black and 11% Asian. 81% of the people in Farmington Hills (over the age of 15) are married and 61% have kids under the age of eighteen. Knowing that, it’s safe to say that this area could be a great place for other families to lay down roots.
If you’re considering relocating to any new city, it could be a very intimidating task. However, it could also be a fulfilling experience if you are willing to get to know the city before actually living in Farmington Hills, Michigan. To help you find the best places to live in and around Farmington Hills, AreaVibes has created a livability score using key metrics like crime, weather, employment, housing and more.
Farmington Hills, MI receives 83 out of 100 for its livability score; this results in a ranking of #34 in Michigan and #824 in the USA. Pack your bags! This is a very high score in comparison to other US cities. Living in Farmington Hills could be a great choice! Farmington Hills also ranks in the top 10 percent of all cities, which is no small feat! For each of the livability categories, we see that Farmington Hills ranks very well for amenities (A+), crime (A+), employment (B-) and housing (A). Regrettably for Farmington Hills, there are some categories for which it does not score well, this includes: weather (D-).
Conveniently located amenities and interesting attractions are a great way to continuously enjoy Farmington Hills on a regular basis. Knowing that there are an abundance of amenities and things to do can ensure that you always have access to nearby grocery stores, restaurants and coffee shops.
Feeling a sense of safety in the area that you live in is a must for most people. Low crime rates can have a positive impact on things like home prices, home appreciation rates and the overall sense of community. Farmington Hills has a violent crime rate of 114 crimes per 100,000 residents which is far lower than the national average.
For buyers, real estate will be the largest purchase they ever make and it will also be their most valuable asset. For renters, the monthly rent paid on their Farmington Hills apartments will most likely be their largest expense. Based on tangible metrics like home and rental affordability and appreciation rates, housing in this area has received a score that is well above the average of every other US city.
Certain items on your wish list like shopping, restaurants, nightlife and proximity to public transportation are all important factors to search for. Having said that, perhaps the most important metric to consider when contemplating a move to Farmington Hills is real estate affordability. The median home price for Farmington Hills homes is $216,200, which is 69.2% higher than the Michigan average. If we take a closer look at the affordability of homes in Farmington Hills, we’ll see that the home price to income ratio is 3, which is 20% higher than the Michigan average. Purchasing your new home can come with many financial benefits, some of which are more lucrative than others. Perhaps the most notable benefit could be the appreciation of your new home. Home appreciation rates are a good way to generate tax-free equity on a long term basis. The year over year appreciation rates in Farmington Hills were 5%, and the 5 year appreciation rates came in at 7.9%.
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