menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Walled Lake, MI Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Walled Lake, MI Housing Market Trends

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%).

Walled Lake Home Appreciation Rates

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.

Average Home Values

Median Home Value

$256,450

Walled Lake, MI Home Prices
> $1,276,000
$957,001 - $1,276,000
$638,001 - $957,000
$510,001 - $638,000
$383,001 - $510,000
$255,001 - $383,000
$128,001 - $255,000
$64,001 - $128,000
$0 - $64,000
1.3%
1.3%
0.4%
0.4%
0.7%
0.7%
0.3%
0.3%
10.2%
10.2%
32.9%
32.9%
41.5%
41.5%
3.5%
3.5%
9.3%
9.3%
0% 100.0%
% of Homes
Average

for Michigan

Average

for nation

Number of Homes And Apartments:

3,436

Walled Lake Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,656 / per month

Homeownership Rate

Owners
Renters
58.9%
58.9%
41.1%
41.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.1%
2.1%
97.9%
97.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.2%
9.2%
63.5%
63.5%
22.7%
22.7%
4.7%
4.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
35.7%
35.7%
19.9%
19.9%
12.0%
12.0%
30.6%
30.6%
1.8%
1.8%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.8%
1.8%
9.9%
9.9%
56.3%
56.3%
24.1%
24.1%
7.3%
7.3%
0.6%
0.6%
0% 100.0%
% of Homes