Living in Bingham Farms, Michigan
Cost of living, income, home prices, rent and demographics of Bingham Farms · Census data 2020–2024
Bingham Farms has 1,680 residents with a median age of 66.5. The median household income is $244,618 (236% higher than the Michigan median), the median home value is $580,500, the median rent is $3,501/month.
Bingham Farms at a glance
- Population
- 1,680
- Median age
- 66.5State: 40.2
- Median household income
- $244,618State: $72,875
- Median home value
- $580,500State: $231,600
- Median rent
- $3,501/moState: $1,129
- Homeowners
- 96.9%
- Bachelor's degree or higher
- 68.9%
- Average commute
- 23 min
Is Bingham Farms a good place to live?
Pros: Median household income 236% higher than the Michigan median; an average commute of 23 minutes; unemployment of 0.9%.
Cons: Home values 151% higher than the state median; a poverty rate of 26.4%.
The weather is best in June to September.
Cost of living in Bingham Farms
Housing is the biggest part of the cost of living. In Bingham Farms the median home value is $580,500, 74% higher than the U.S. median. Renters pay a median of $3,501 per month, which is 51% of household income. Homeowners with a mortgage pay $3,440 a month in housing costs.
Bingham Farms median household income
The median household income in Bingham Farms is $244,618 and the income per person is $106,724. 26.4% of residents live below the poverty line (Michigan: 13.2%).
Housing in Bingham Farms: homes for sale and rent
- Housing units
- 483
- Owner-occupied
- 96.9%
- Renter-occupied
- 3.1%
- Vacant
- 5%Includes seasonal homes
- Median year built
- 1985
- Average household size
- 3.59
Bingham Farms demographics
- Population
- 1,680
- Median age
- 66.5
- Under 18
- 15.4%
- 65 and older
- 52.5%
- Households
- 459
- Foreign-born
- 16.5%
- Veterans
- 5.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Bingham Farms ›
Education in Bingham Farms
68.9% of adults 25 and older in Bingham Farms have a bachelor's degree or higher (Michigan: 32.4%), and 38% have a graduate or professional degree.
Jobs and commute in Bingham Farms
- Unemployment rate
- 0.9%State: 5.7%
- Average commute
- 23 minState: 24 min
- Work from home
- 35.1%
- Drive alone
- 60.8%
- Public transit
- 0%
- Walk to work
- 0.6%
- Homes with broadband
- 90.4%
Bingham Farms vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Bingham Farms | 1,680 | $244,618 | $580,500 | $3,501 |
| Franklin | 2,554 | $194,079 | $774,900 | — |
| Beverly Hills | 10,524 | $177,412 | $511,000 | $2,077 |
| Southfield | 76,236 | $68,166 | $236,200 | $1,340 |
| Lathrup Village | 4,059 | $109,893 | $310,600 | $1,483 |
| Birmingham | 21,763 | $153,510 | $698,300 | $1,902 |
| Bloomfield Hills | 4,415 | $189,942 | $947,900 | $3,501 |
| Berkley | 15,149 | $116,239 | $316,700 | $1,526 |
| Farmington Hills | 83,515 | $104,836 | $354,500 | $1,551 |
More for people moving to Bingham Farms
Bingham Farms ZIP code ›Weather and climate ›Living in Bingham Farms: FAQ
What is the median household income in Bingham Farms, MI?
The median household income in Bingham Farms is $244,618, 236% higher than the Michigan median of $72,875 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Bingham Farms?
The median home value in Bingham Farms is $580,500, compared with $231,600 in Michigan.
How much is rent in Bingham Farms?
The median gross rent in Bingham Farms is $3,501 per month, about 51% of household income.
Is Bingham Farms, MI a good place to live?
Pluses: median household income 236% higher than the Michigan median; an average commute of 23 minutes; unemployment of 0.9%. Minuses: home values 151% higher than the state median; a poverty rate of 26.4%.
What is the median age in Bingham Farms?
The median age in Bingham Farms is 66.5 years (Michigan: 40.2).
How long is the commute in Bingham Farms?
The average commute to work in Bingham Farms is 23 minutes; 35.1% of workers work from home.
What is the unemployment rate in Bingham Farms?
The unemployment rate in Bingham Farms is 0.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Bingham Farms?
68.9% of adults in Bingham Farms have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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