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Southfield Public

Learn about the people, housing, costs and businesses in Southfield Public, Michigan

Median Home$247,046
Median Rent$1,343/month
Population102,308
Leading IndustriesHealthcare · Arts, Food & Hospitality · Professional Services13% healthcare
Home Value Growth⬆⬆+11.1% over 2 years
Retirees22% of residentsslightly above average
Homeowners62% of occupied units
NotableHighly Educated24% bachelor's · 13% graduate · top 17% nationally
Southfield Public
MI

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Southfield Public?

As of today, the 30-year fixed mortgage rate for Southfield Public is approximately 6.973% (7.012% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Southfield Public?

The median home value in Southfield Public is $247k. The median monthly rent is $1,343. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Southfield Public?

Home values in Southfield Public have increased 11.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Southfield Public?

Based on a typical all-in ownership cost of $1,367/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $59k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Southfield Public is $78k/year.

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What industries drive the economy in Southfield Public?

The largest employment sectors in Southfield Public are public administration (25%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.