Commercial Real Estate Market in Ferndale, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
62 active listings and 887 off-market properties in Ferndale, MI. Commercial property asks $211/SF to buy and $21.33/SF/Yr to lease.
Market Trends
Ferndale, MI spans 4.4 square miles in Oakland County, Michigan. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Ferndale, MI has a median asking sale price of $198/SF (based on 3 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Ferndale, MI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Ferndale, MI has a median asking sale price of $139/SF (based on 3 listings). Vacancy runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily space in Ferndale, MI has a median asking sale price of $239/SF. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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
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.
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.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Hazel Park | $90 | $15.89 |
| Oak Park | $155 | $14.00 |
| Royal Oak | $245 | $25.00 |
| Madison Heights | $103 | $14.25 |
Commercial property in Ferndale, MI asks $211/SF. The 4 bordering markets run from $90/SF in Hazel Park to $245/SF in Royal Oak, and the city sits above their $129/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Ferndale?
How much does it cost to lease commercial space in Ferndale?
How does Ferndale compare to nearby markets on price?
What zoning applies to commercial property in Ferndale?
Where does Realmo's Ferndale market data come from?
Methodology & data sources
- Asking prices and medians
- There are 32 active for-sale and 30 active for-lease listings in Ferndale, MI. The medians are based on 19 of the for-sale and 13 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- 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 October 2026 · How Realmo checks market page data · Report a data issue
