Walled Lake, Michigan Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Walled Lake, Michigan rental market.
Walled Lake, Michigan
Average Apartment Rent
$1,291
Y-o-Y Change in Average
Apartment Rent
0%
As of May 2026
Compared to a year ago, Walled Lake, Michigan apartments have recorded a 0% rent increase.
Walled Lake, Michigan Average apartment rent trend
Walled Lake, Michigan Average Apartment Rent
Walled Lake, Michigan Apartment rent ranges
At 66.46%, apartments priced $1,000 - $1,500 represent the bulk of Walled Lake, Michigan rentals, while condos priced $2,000 - $2,500 hold the lowest share of the market – 5.01%.
Walled Lake, Michigan Housing tenure**
Renters take up 41% of Walled Lake, Michigan real estate, occupying a total of 1,413 units, while homeowners live in 2,023 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$47,917
Average household size of renter-occupied housing units**
2.03
Rental vacancy rate**
3.7%
Walled Lake, Michigan Renter-occupied housing units by no. of bedrooms**
There are 840 rentals in Walled Lake, Michigan with 2 beds making up the highest share of the market, at 59%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 33 units. Overall, the median number of rooms in Walled Lake, Michigan homes for rent is 4.
Walled Lake, Michigan Renter-occupied units by age of householder**
Most condos for rent in Walled Lake, Michigan are occupied by residents in the 45 - 54 years age group (23%), followed by those in the 25 - 34 years age group (23%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 2%.
Walled Lake, Michigan Renter-occupied housing units by family type**
Walled Lake, Michigan Renter-occupied housing units by the presence of own children**
A total of 687 apartments for rent in Walled Lake, Michigan, or 49% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 364 units. All in all, the median size of a renter-occupied household in Walled Lake, Michigan is 2.03.
Walled Lake, Michigan Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 27% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Walled Lake, Michigan.
Walled Lake, Michigan Renter-occupied units by year structure built**
The highest share of Walled Lake, Michigan apartment rentals, namely 38% or 533 units, were Built 1970 - 1979, followed by those Built 1990 - 1999 (29%, 406 units), and the ones Built 1980 - 1989 (15%, 205 units).
Walled Lake, Michigan Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Walled Lake, Michigan renters (45%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Walled Lake, Michigan condos for rent is 2017.
Walled Lake, Michigan Renter-occupied housing units by vehicles available**
When it comes to transportation options, 48% of Walled Lake, Michigan renters have 1 vehicle available per household, 33% of them have 2 vehicles available, and 13% have No vehicle available.
Walled Lake, Michigan Means of transportation to work of householders living in renter-occupied housing units**
Walled Lake, Michigan Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Walled Lake, Michigan apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
