Walled Lake, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Walled Lake Neighborhoods Since 2000




Walled Lake, MI Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Walled Lake Housing Market Information

With 7,110 people, 3,372 houses or apartments, and a median cost of homes of $163,370, 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 37.33% of the city's housing units. Other types of housing that are prevalent in Walled Lake include large apartment complexes or high rise apartments ( 26.30%), row houses and other attached homes ( 25.54%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.90%).

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 ( 23.81%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.46%). There's also some housing in Walled Lake built before 1939 ( 5.01%).

Walled Lake Home Appreciation Rates

Walled Lake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Walled Lake during the period has been just -0.94%, which is lower than 70% of US communities.

Appreciation rates are so strong in Walled Lake that despite a nationwide downturn in the housing market, Walled Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Walled Lake appreciation rates continue to be some of the highest in America, at 7.16%, which is higher than appreciation rates in 82.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Walled Lake. Walled Lake appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Walled Lake one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Walled Lake's latest annual appreciation rate is higher than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$163,370

Walled Lake, MI HOME PRICES

Value Range
> $1,293,000 0.0
$969,001 - $1,293,000 0.0
$646,001 - $969,000 0.0
$517,001 - $646,000 0.1
$388,001 - $517,000 3.1
$258,001 - $388,000 15.2
$130,001 - $258,000 34.4
$65,001 - $130,000 33.3
$0 - $65,000 13.9

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
44.3161842259463 29.4871794871795

Number Of Homes And Apartments:
3,372

Walled Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
2.69% 0.15% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$964 / per month

Homeownership Rate

Homeownership
Owners 59.99
Renters 40.01
Vacant 4.64

Housing Market Details

 

Age of Homes

AGE OF Walled Lake HOMES
2000 or Newer 8.5
1970 - 1999 62.7
1940 - 1969 23.8
1939 or Older 5.0

Types of Homes

TYPE OF Walled Lake HOMES
Single-Family 37.3
Townhomes 25.5
Small Apt. Buildings 6.9
Apt. Complexes 26.3
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Walled Lake HOMES
No Bedroom 1.19
1 Bedroom 11.91
2 Bedrooms 43.24
3 Bedrooms 37.05
4 Bedrooms 6.33
5 or more bedrooms 0.28