Oak median real estate price is $67,132, which is less expensive than 87.0% of Michigan neighborhoods and 95.2% of all U.S. neighborhoods.
The average rental price in Oak is currently $822, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.1% of Michigan neighborhoods.
Oak is a suburban neighborhood (based on population density) located in Detroit, Michigan.
Oak real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Oak neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Oak. The current real estate vacancy rate here is 30.2%. This is higher than the rate of vacancies in 94.3% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.