Oakland County, MI | Midwest Multifamily | Investment Highlights

Oakland County, Michigan is located within the Greater Detroit Metropolitan area. With a per capita income of $84,850, Oakland County has the highest per capita income in the state and the 14th highest nationally among all counties with at least a million residents. Its convenient location allows easy access to major highways, airports, and transportation networks allowing more than 412,000 workers commute into Oakland County each day, joining the 314,000 residents who live and work in the county. (Source: U.S. Census Bureau, ACS 5-year estimates 2022)

Oakland University - Rochester, MI

Rochester, Michigan is known for its historic downtown area, which features a variety of shops, restaurants, and entertainment options. Additionally, the city is proud to be the home of Oakland University, which recently made national headlines for its 80-76 victory over the Kentucky Wildcats in the 2024 NCAA Men's March Madness tournament.

Demographics

Since 2010, Oakland County's population has grown by 6% - the 2nd fastest rate of growth in Metro Detroit. This is driven by factors such as job opportunities, quality education, and a high standard of living. This demographic stability provides investors with confidence in the long-term sustainability of their multi-family investments.

Oakland County has consistently ranked highly in various categories, further solidifying its status as a top investment destination. From its top-notch school districts and low crime rates to its high median household income and quality of life indices, the county has garnered attention for its exceptional livability.

Economic Resilience:

Beyond its demographics, Oakland County's economic resilience is another driving force behind its appeal to investors. As a hub for industries ranging from automotive and technology to healthcare and finance, the county offers a diverse and evolving business environment. Additionally, Oakland County's real estate market has historically demonstrated resilience and appreciation, providing investors with attractive returns on their investments. Whether measured by property value appreciation, rental income potential, or overall market stability, Oakland County stands out as a an excellent location for residential real estate ownership.

Top 4 Multifamily Developments

#1 Birmingham Pointe - 157 Luxury apartments in Birmingham, MI. Expected completion Q1 2025.

Featuring:

• Studio, 1-, 2-, and 3-Bedroom Residences

• Exclusive Penthouse Suites

• Concierge Service

• State-of-the-Art Fitness Center

• Resort-Style Rooftop Pool

• Alluring Interior Courtyard

• Premium Pet Spa

• Private Garage Parking

Property Website

#2 The Apex - 212 Luxury Apartments in West Bloomfield. Expected completion: Q3 2024.

Offering brand new one, two, and three-bedroom luxury apartments in the heart of West Bloomfield, The Apex will feature premier rental living in Metro Detroit — giving residents the highest quality of finishes, amenities, and service available in the market. Property Website

#3 Forum Flats - 200 luxury apartments located in Troy, MI

Featuring:

• Fitness center and Yoga Studio

• Outdoor Pool & Lounge

• Dog park & Pet Spa

• EV Charging Stations

• Attached Garages for rent

• Quartz Countertops

• Wood-Style Luxury Vinyl Plank Flooring

Property Website

#4 The Bond - Mixed use development with 260 apartments

Mixed-use development with two four-story, multi-family residential buildings with a total of 260 apartments and a single-story commercial building. Read more about developments in Novi here.

Looking Ahead....

Oakland County, Michigan, presents a compelling case for multi-family real estate investment. With its diverse demographics, stable economy, and strong housing market, Oakland County offers investors a wealth of opportunities.

#1 Keego Harbor, Michigan

Located on the shores of Cass Lake, Oakland County's most popular all-sports recreation lake, Keego Harbor has announced plans to create a traditional village with cafes, markets, specialty shops, and possible residences. The master plan, called the "Village Plan," was approved by the city's Tax Incremental Finance Authority and the City Council. The city is making ordinance changes to allow for future development and growth.

Read more about the Keego Harbor "Village Plan" here.

#2 Hazel Park, Michigan

Hazel Park has undergone revitalization efforts, including the redevelopment of commercial areas and the creation of new recreational spaces, contributing to the overall appeal of the city. As a result, the city has experienced a surge in real estate activity, with increasing property values and a high demand for housing.

The city's close proximity to Detroit makes it an attractive investment option, benefiting from the economic growth and development happening in the region.

The city has invested in infrastructure improvements, including road repairs, utility upgrades, and public transportation enhancements, making it more appealing for businesses and residents. More information here.

Read about the former horse racing track being transformed into industrial facilities.

The Berkadia Investment Sales team has identified multifamily investment opportunities available now in Oakland County ranging from $4M-$28M. If you're interested in learning more about these investment opportunities, feel free to reach out to your trusted Berkadia advisor. Let's discuss how you can take advantage of this market! Click here to schedule a call with me.

#MultifamilyInvestments #Oakland #RentalDemand #EconomicGrowth #DevelopmentPotential

Cover photo: (Detroit Sports Commission; Link)

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