Commercial Real Estate Market in Ferndale, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
76 active listings and 887 off-market properties in Ferndale, MI. Commercial property asks $132/SF to buy and $20.11/SF/Yr to lease.
Market Trends
Ferndale, MI spans 4.4 square miles in Oakland County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Ferndale, MI asks $120/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Ferndale, MI asks $175/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Ferndale, MI runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in Ferndale, MI asks $159/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 75.4%
- Industrial 12.8%
- Mixed use 8.7%
- Commercial 2.4%
- Planned_development 0.7%
Largest Zones share of zoned land by district
Residential
Residential
Industrial
Industrial
Corridor Mixed Use
Ferndale, MI zones 1,848 acres across 8 districts. Commercial zoning covers 2.4% of zoned land, residential 75.4% and industrial 12.8%. The largest single district is Residential at 67.5%. For commercial buyers the practical constraint is that only 15.2% of land carries a commercial or industrial designation.
Residential (R-1)
R-1, Residential District. To encourage a mix of homes dwelling (one-unit; two-unit; and accessory dwellings (ADs) to create cohesive, walkable neighborhoods. Three-unit and four-unit dwellings are allowed by Special Land Use approval (up to a maximum of four-units per lot including an AD). Neighborhood serving amenities and services (such as religious insti…
Market overview
Demographics & Economy
Ferndale, MI has 21,564 residents in 12,003 households. Density runs 4,876 people per square mile. Median household income here is $86,095 and median gross rent $1,191 a month.
21,564
Population
12,003
Households
1.8
Avg Household Size
37
Median Age
53%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,876
Density / Sq Mi
$86,095
Median Household Income
$54,557
Median Earnings
$1,191
Median Rent
$229,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Pleasant Ridge | — | — |
| Hazel Park | — | $11.63 |
| Huntington Woods | — | — |
| Oak Park | — | $12.66 |
Commercial property in Ferndale, MI asks $132/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Ferndale?
Commercial property in Ferndale, MI asks an average of $132 per square foot. The 3 most recent recorded sales traded at a median of $78/SF, so asking sits 69% above the achieved median. Retail carries the highest asking price at $175/SF.
How much does it cost to lease commercial space in Ferndale?
Asking lease rates in Ferndale, MI average $20.11 per square foot per year.
What zoning applies to commercial property in Ferndale?
Ferndale, MI zones 1,848 acres across 8 districts, of which 2.4% is commercial and 12.8% industrial. The largest single district is Residential at 67.5% of zoned land. R-1, Residential District. To encourage a mix of homes dwelling (one-unit; two-unit; and accessory dwellings (ADs) to create cohesive, walkable neighborhoods. Three-unit and four-unit dwellings are allowed by Special Land Use approval (up to a maximum of four-units per lot including an AD). Neighborhood serving amenities and services (such as religious insti… Residential zoning covers 75.4% and open space 0%.
Where does Realmo's Ferndale market data come from?
Realmo compiles Ferndale, MI figures from 3 recent recorded sales, 45 active sale listings, 31 active lease listings, 887 tracked off-market properties, the current Ferndale zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 45 active for-sale and 31 active for-lease listings in Ferndale, MI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 1,848 zoned acres across 8 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
