Royal Oak's traditional street-side shopping district runs along Main Street and Washington Avenue downtown. It experienced growth and development in the 2000s, with a transformation to a trendy upscale, urban-chic restaurant, shopping, and entertainment district. A number of mixed-use high-rise developments have arisen — mostly condo "lofts" with retail and office space on the lower levels. Points of interest include the Detroit Zoo, a major regional tourist attraction, the William Beaumont Hospital, the Royal Oak Music Theatre, the Main Art Theatre, the Baldwin Theatre, Mark Ridley's Comedy Castle, Emagine Theater, and shops, cafes, and restaurants. The main offices of Hour Detroit media, which publishes Metro Detroit's lifestyle magazine, are located in the city.

Major employers in Royal Oak include, William Beaumont Hospital with 7,147 employees, The City of Royal Oak with 465 employees, Royal Oak Public Schools with 482 employees, Oakland Community College with 448 employees, Consumers Energy with 351 employees, Flex-N- Gate with 350 employees, The Detroit Zoo with 301 employees, Holiday Market with 300 employees and HHI- Form Tech with 290 employees.