Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 7,318 people, 3,436 houses or apartments, and a median cost of homes of $256,450, Walled Lake real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Walled Lake, accounting for 35.69% of the city's housing units. Other types of housing that are prevalent in Walled Lake include large apartment complexes or high rise apartments ( 30.64%), row houses and other attached homes ( 19.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 12.00%).
People in Walled Lake primarily live in small (one, two or no bedroom) single-family detached homes. Walled Lake has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Walled Lake built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Walled Lake built between 1940-1969 ( 22.66%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.18%). There's also some housing in Walled Lake built before 1939 ( 4.68%).
Appreciation rates for homes in Walled Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.88%, which ranks in the top 50% nationwide. This equates to an annual average Walled Lake house appreciation rate of 6.73%.
Over the last year, Walled Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Walled Lake's appreciation rate has been 5.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Walled Lake were at 1.70%, which equates to an annual appreciation rate of 6.95%.
Relative to Michigan, our data show that Walled Lake's latest annual appreciation rate is lower than 60% of the other cities and towns in Michigan.
$256,450
for Michigan
for nation
3,436
$1,656 / per month