Ferndale is a popular city located in Oakland County which is well known for its vibrant and diverse community, good schools, and a thriving nightlife. Here are some pros and cons of purchasing real estate in Ferndale, Michigan:

Pros:
1. Diverse Community: Ferndale has a diverse community that includes families, young professionals, and retirees. This inclusive environment fosters a sense of community and acceptance.
2. Good schools: The city of Ferndale has excellent schools that are ranked among the top in the state. This makes it an ideal location for families with school-age children.
3. Growing Economy: Ferndale has a growing economy bolstered by a prosperous business district that is home to a mix of large headquarters as well as small businesses.
4. Cultural Hotspot: Home to the long-standing DIY art and music venue, The Magic Bag, and offering walkable distances to many restaurants, stores, and entertainment options, Ferndale has become a cultural hotspot over the past few years.

Cons:
1. High cost of living: The cost of living in Ferndale is higher than the national average which might make it difficult for some people to afford the area.
2. Traffic congestion: Traffic in Ferndale can be congested during peak hours, making commuting difficult.
3. Cold Climate: While the city is centrally located in close proximity to the Great Lakes and activities, the winter months can be quite cold with frequent storms.

Overall though, Ferndale is a well-rounded neighborhood with opportunities for entertainment, earning, learning, and immersive culture.