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Palmer Park Home for Sale

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    $1,500,000

    • 30 Beds
    • 30 Baths
    • 18,096 Sq Ft

    255 Merton Rd, Highland Park, MI 48203

    Excellent Value add opportunity! FINANCING IN PLACE-JUST BRING A BUYER ready to put 20-30% down All units are 2BR/2BA and +1,000sqft One gas, one water meter (Landlord pays Water and Gas) Tenants pay electric Meticulously Maintained 15 parking spaces in rear. Current rents are below market. Partner with our lender for financing Aaron B. Lewis ablewis at nexamortgagae dot com NMLS#2705616

    Daryl Harris Black Diamond Realty

    255 Merton Rd, Highland Park, MI 48203

Why Live in Palmer Park

Palmer Park in Detroit is a neighborhood celebrated for its central location, historic apartment district, and the expansive 296-acre Palmer Park. This area has seen significant revitalization through community efforts, particularly by People for Palmer Park (PFPP), which has transformed the park into a lively hub featuring playscapes, a splashpad, a 2.5-mile nature trail, and an apple orchard. The park is a focal point for annual events like the Harvest Festival and a Farmer’s Market, and it will soon host free concerts with the addition of an amphitheater. Shopping is convenient, with major retailers such as Meijer and Marshalls located at the intersection of Woodward and 8 Mile, while the Avenue of Fashion on Livernois offers a variety of boutiques and dining options, including coney staples and casual sit-down restaurants. The neighborhood is both walkable and bikeable, supported by ample public transit options and proximity to major freeways like The Lodge and Interstate 75, which are about 3 miles away. Housing in Palmer Park is diverse, featuring historic apartments, townhouses, condos, and ranch-style homes, catering to a range of preferences and budgets. The community's compact layout and paved bike lanes make it easy to navigate without a car, although many residents choose to own one.

Frequently Asked Questions

Is Palmer Park a good place to live?
Palmer Park is a good place to live. Palmer Park is considered car-dependent and somewhat bikeable with some transit options. Palmer Park is a suburban neighborhood. Palmer Park has 6 parks for recreational activities. It is sparse in population with 1.6 people per acre and a median age of 40. The average household income is $43,226 which is below the national average. College graduates make up 51.7% of residents. A majority of residents in Palmer Park are renters, with 87.7% of residents renting and 12.3% of residents owning their home. A local real estate agent serving Palmer Park can help you decide if this neighborhood is the right one for you. Learn more on our Palmer Park neighborhood guide.
Is Palmer Park, MI a safe neighborhood?
Palmer Park, MI is less safe than the average neighborhood in the United States. It received a crime score of 5 out of 10.
How much do you need to make to afford a house in Palmer Park?
The median home price in Palmer Park is $1,500,000. If you put a 20% down payment of $300,000 and had a 30-year fixed mortgage with an interest rate of 6.72%, your estimated principal and interest payment would be $7,760 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $333K a year to afford the median home price in Palmer Park. The average household income in Palmer Park is $43K.
What are the best public schools in Palmer Park?
The best public schools that serve Palmer Park are:
What are the best private schools in Palmer Park?
The best private schools that serve Palmer Park are:
What are the most popular zip codes in Palmer Park, Detroit, MI?
The most popular zip codes in Palmer Park, Detroit, MI include 48203, 48221, 48238, 48220 and 48030.
What are the most popular neighborhoods near Palmer Park, Detroit, MI?
The most popular neighborhoods near Palmer Park, Detroit, MI are University District, Martin Park, Palmer Woods, Grixdale Farms and Sherwood Forest.

Home Trends in Palmer Park, MI

Housing Trends

Median Sale Price
$955,000
Median Single Family Sale Price
$955,000
Average Price Per Sq Ft
$193
Number of Homes for Sale
0
Last 12 months Home Sales
6
Months of Supply
0.00
Median List Price
$1,500,000
Median Change From 1st List Price
36%
Median Home Sale Price YoY Change
145%
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