States › Michigan › Walled Lake

Is Walled Lake, MI expensive to live in?

ExpensiveRent takes 33 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,14822% higher than U.S. average
💵 Families earn per year (2026)$77,711about $6,476/month · 11% lower than U.S. average
🔑 House price$224,20033% lower than U.S. average

Rent is higher than in 75% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $85,920 a year. That is $41 an hour at a full-time job.

Is rent cheaper than other Michigan cities?

No. Rent here is more expensive than in most of Michigan. It is number 174 of 179 cities from cheapest to most expensive.

Walled Lake
$2,148
Fair Plain
$1,314
St. Louis
$1,156
Shields
$1,041
Byron Center
$1,678
Iron Mountain
$842
Hastings
$824

How much do households earn in Walled Lake?

Under $25k
16.4%
$25k–50k
20.6%
$50k–100k
32.6%
$100k–150k
15.6%
$150k+
12.6%

Share of households by yearly income. 28.3% of households earn $100,000 or more.

Rent by apartment size in Walled Lake

SizeWalled LakeU.S. average
1 bedroom$1,128$1,324
2 bedrooms$1,705$1,509
3 bedrooms$1,969$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Walled Lake overall?

Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).

Housing
82
Goods (food, clothes…)
96
Utilities
100
Other services
101
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Walled Lake, so the Michigan figure is shown.

Taxes and bills in Walled Lake

🏛️ Property tax$2,990a year · 1.33% of home value · U.S. $3,119
⚡ Electric bill$119a month (typical) · U.S. $156

Life in Walled Lake

Commute to work23.5 minU.S.: 26.4 min
College degree32.6%U.S.: 35.7%
Own their home62.2%U.S.: 65.2%
Below poverty line10.5%U.S.: 12.5%
Unemployment4%U.S.: 5.2%

Is it cheaper to rent or buy in Walled Lake?

Buying is cheaper month to month: about $592 a month less than renting.

Renting
$2,148
Owning
$1,556

Owning assumes a typical $224,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $22,420 for the down payment.

Frequently asked questions

What is the average rent in Walled Lake, MI?

Renting in Walled Lake costs a median of about $2,148 a month in 2026, including utilities. The Michigan median is $1,314.

How much do I need to make to live in Walled Lake?

To keep rent under 30% of income, you need about $85,920 a year, or $41 an hour at a full-time job.

Is Walled Lake cheap or expensive?

Walled Lake is rated Expensive: rent takes 33.2% of the typical household income of $77,711. It ranks 174th cheapest of 179 Michigan cities we track.

How much are property taxes in Walled Lake?

The median homeowner in Walled Lake pays $2,990 a year in property taxes, about 1.33% of the median home value.

Is Walled Lake more expensive than the national average?

Overall prices in Michigan are 4% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Walled Lake?

The median home value in Walled Lake is $224,200, about 2.9 times the typical yearly household income.

7,299 people live in Walled Lake. Numbers are typical (middle) values.