In Walled Lake, a typical home is worth $224,200 and typical rent is $1,419 a month. Compared with all of Oakland County, the typical home value is 35% lower, typical household income is 26% lower, and the share of households that own their home is 10 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $204,550 to $242,224.
Typical rent
$1,605a month
Typical rent from Zillow, June 2026 to September 2026: from $1,622 to $1,605.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Walled Lake is in Oakland County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Oakland County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical home in Walled Lake is worth $224,200,35% less than in Oakland County as a whole ($343,600).
2
Nearby, in Wixom, the typical rent is $1,035: 27% less than in Walled Lake ($1,419).
3
The typical household income in Walled Lake is $72,055,26% less than in Oakland County as a whole ($97,760).
4
According to Zillow, in the 12 months to September 2026 the typical home value in Walled Lake rose 0.5%; in Michigan, it rose 3.8%.
5
62% of households in Walled Lake own their home, against 73% in Oakland County.
Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data
The homes here
Housing in Walled Lake
What homes there are in Walled Lake, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Walled Lake
Oakland County
Michigan
United States
Kind of home: Walled Lake and its comparisons
Measure
Walled Lake
Oakland County
Michigan
United States
Detached house
40%
68%
72%
61%
Attached house
19%
7%
5%
6%
Building of 2 to 4
10%
5%
5%
8%
Apartments (5 or more)
28%
19%
13%
19%
Mobile home
Unreliable estimate
3%
5%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Homes in Walled Lake are varied: detached houses are the largest group, at 40%, against 68% in Oakland County.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Walled Lake
Oakland County
Michigan
United States
Year built: Walled Lake and its comparisons
Measure
Walled Lake
Oakland County
Michigan
United States
Before 1960
22%
28%
36%
26%
1960–1979
32%
30%
26%
24%
1980–1999
34%
26%
22%
25%
2000–2009
9%
9%
10%
14%
2010 or later
Unreliable estimate
7%
6%
11%
The typical year built in Walled Lake is 1978, about the same as in Oakland County (1975).
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K11%
$100K–$200K30%
$200K–$300K33%
$300K–$500K22%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Walled Lake and its comparisons
Measure
Walled Lake
Under $100K
11%
$100K–$200K
30%
$200K–$300K
33%
$300K–$500K
22%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable
The FHA limit for Oakland County is high ($541,287): at least 94% of owner-occupied homes in Walled Lake are worth less than $500,000.
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99917%
$1,000–$1,49933%
$1,500–$1,99935%
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Walled Lake and its comparisons
Measure
Walled Lake
Under $500
Unreliable estimate
$500–$999
17%
$1,000–$1,499
33%
$1,500–$1,999
35%
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
With a mortgage
$1,634 a month
Oakland County: $1,998 a month
Without a mortgage
$604 a month
Oakland County: $778 a month
Owners with a mortgage
64%
Oakland County: 65%
Owning costs less in Walled Lake: with a mortgage, the typical cost is $1,634 a month; in Oakland County, $1,998. Without one, $604.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Walled Lake+53%
Oakland County+42%
Michigan+50%
United States+53%
Typical rent
Walled Lake+37%
Oakland County+27%
Michigan+30%
United States+33%
Typical household income
Walled Lake+38%
Oakland County+23%
Michigan+28%
United States+29%
Change since 2015–2019: Walled Lake and its comparisons
Measure
Walled Lake
Oakland County
Michigan
United States
Typical home value
+53%
+42%
+50%
+53%
Typical rent
+37%
+27%
+30%
+33%
Typical household income
+38%
+23%
+28%
+29%
The typical home value in Walled Lake rose 53% since 2015–2019, more than in Oakland County (42%).
Rents in Walled Lake rose faster than in Oakland County: 37% since 2015–2019, against 27%.
The typical household income in Walled Lake rose 38% over that time; home values changed +53% and rent +37%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Walled Lake and its comparisons
Measure
Walled Lake
Oakland County
Michigan
United States
Rental vacancy
Unreliable estimate
7.4%
5.1%
5.5%
Homeowner vacancy
Unreliable estimate
0.4%
0.8%
0.9%
More than one person per room
Unreliable estimate
1.2%
1.6%
3.4%
People per household
2.20
2.39
2.42
2.53
Drive alone
81%
71%
74%
69%
Carpool
Unreliable estimate
6%
8%
9%
Public transit
Unreliable estimate
0%
1%
3%
Walk or bike
Unreliable estimate
1%
2%
3%
Work from home
12%
20%
14%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Fewer people live in each home here: 2.20 on average, against 2.39 in Oakland County.
In Walled Lake, 81% of workers drive alone to work; in Oakland County, 71%.
Do the math
What would you pay each month for a home in Walled Lake?
A typical home is tight for the typical income
We start with a typical home in Walled Lake, worth $224,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 32% of the typical household income in Walled Lake, which is $72,055 a year. For that payment to be 28% of income, a household would need to earn about $82,816 a year.
The calculator's FHA and conventional loan limits are those of all of Oakland County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Walled Lake. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $7,847 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,932
at 7.18% · 30 years
Loan amount
$220,139
Total interest
$316,729
Paid off in
November 2056
Includes $3,786 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,681 a month
Tight
$1,681 to $2,162 a month
Your payment · 32%
Hard
more than $2,162 a month
Compared with the typical household income in Walled Lake ($72,055 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,491
Property tax
$249
Home insurance
$93
FHA mortgage insurance (MIP)
$99
You need at least $7,847 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,932; principal and interest $1,491.
The city and its county
Walled Lake and Oakland County
Walled Lake is in Oakland County, Michigan. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Walled Lake
Map of Oakland County, Michigan, with Walled Lake marked. Around it, the neighboring counties.
Walled Lake
Oakland County
Other cities with a page
Walled Lake's own numbers
Typical home value
$224,200
Typical monthly rent
$1,419
Typical yearly household income
$72,055
Households that own their home
62%
Effective property tax rate
1.33%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Oakland County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,459
Price change over 5 years (FHFA)
+45%
Homes in a high flood-risk zone
0.4%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Oakland County.
A typical home in Walled Lake is worth $224,200: 35% below the county and 3% below Michigan. With the typical household income in Walled Lake ($72,055 a year), a typical home costs 3.1 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Walled Lake3.1 years
Oakland3.5 years
Michigan3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Oakland County
According to FHFA’s house price index, home prices in Oakland County rose 85% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Oakland County.
Yearly change in FHFA’s price index in Oakland County, 2016 to 2025
2016: +5.4% +5.4% 2016
2017: +7.1% +7.1% 2017
2018: +5.7% +5.7% 2018
2019: +4.4% +4.4% 2019
2020: +2.7% +2.7% 2020
2021: +10.0% +10.0% 2021
2022: +11.7% +11.7% 2022
2023: +6.3% +6.3% 2023
2024: +6.5% +6.5% 2024
2025: +4.2% +4.2% 2025
Change in FHFA’s price index in Oakland County, Michigan and the United States
Period
County
Michigan
U.S.
Last year (2025)
+4.2%
+4.7%
+2.9%
5 years (2020–2025)
+45%
+52%
+47%
10 years (2015–2025)
+85%
+97%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Walled Lake next to Oakland County, Michigan and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Walled Lake$224,200
Oakland$343,600
Michigan$231,600
United States$332,700
Typical monthly rent
Walled Lake$1,419
Oakland$1,376
Michigan$1,129
United States$1,413
Typical yearly household income
Walled Lake$72,055
Oakland$97,760
Michigan$72,875
United States$80,734
See the full table
Walled Lake next to Oakland County and Michigan
Measure
Walled Lake
Oakland County
Michigan
U.S.
Typical home value
$224,200 ▼35% below the county
$343,600
$231,600
$332,700
Typical monthly rent
$1,419 ▲3% above the county
$1,376
$1,129
$1,413
Typical yearly household income
$72,055 ▼26% below the county
$97,760
$72,875
$80,734
Households that own their home
62% ▼10 points below the county
73%
73%
65%
Typical yearly property tax
$2,990 ▼32% below the county
$4,371
$2,904
$3,119
Effective property tax rate
1.33% ▲0.06 points above the county
1.27%
1.25%
0.94%
Renters with high rent for their income
55% ▲10 points above the county
45%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Oakland County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Walled Lake
For a typical $224,200 home in Walled Lake, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Walled Lake's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,932a month
Least cash to close
Down payment
$7,847
Cash to close
$14,573
Rate
7.18%
Mortgage insurance
FHA MIP · $99
Conventional, 5% down$1,891a month
Down payment
$11,210
Cash to close
$17,936
Rate
7.18%
Mortgage insurance
PMI · $106
Conventional, 20% down, no PMI$1,557a month
Down payment
$44,840
Cash to close
$51,566
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,764a month
Down payment
$33,630
Cash to close
$40,356
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Walled Lake
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,932
$7,847
$220,139
7.18%
FHA MIP · $99
$14,573
580
Conventional, 5% down
$1,891
$11,210
$212,990
7.18%
PMI · $106
$17,936
620*
Conventional, 20% down, no PMI
$1,557
$44,840
$179,360
7.18%
None
$51,566
620*
ITIN, 15% down (example)
$1,764
$33,630
$190,570
8.18%
None
$40,356
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Walled Lake is $1,419 a month: 3% above the county. In Walled Lake, 55% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Oakland County, by unit size. To pay the 2-bedroom one ($1,459 a month) without spending more than 30% of your income, you would need to earn $28.06 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Oakland County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,047
$20.13
$41,880
1 bedroom
$1,167
$22.44
$46,680
2 bedrooms
$1,459
$28.06
$58,360
3 bedrooms
$1,777
$34.17
$71,080
4 bedrooms
$1,929
$37.10
$77,160
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Walled Lake
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Walled Lake is in ZIP code 48390.
For 2 bedrooms it is $1,960: $501 more than the fair market rent for Oakland County ($1,459).
Fair market rent by ZIP code and size in Walled Lake, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
48390
$1,410
$1,570
$1,960
$2,390
$2,590
ZIP code2 bd3 bd
48390 $1,960$2,390
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Walled Lake when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists one building with rents for lower incomes in Walled Lake.
Walled Lake Villa1035 Walled Lake Villa Dr, Walled Lake 48390260 low-income homes · 1 bd: 144 · 2 bd: 96 · 3 bd: 20 · In service since 2017 · For older adults, families(248) 624-8282
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 7 HUD-approved agencies with an office in Oakland County; 5 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Walled Lake or Oakland County. The ones below are statewide in Michigan: they work in Walled Lake the same as in the rest of the state.
Michigan state agency loan of up to $10,000, with no interest and no monthly payments, for the down payment, closing costs and prepaid expenses; it goes with MSHDA's MI Home Loan mortgage and is repaid in certain cases, such as when you pay off the first mortgage, sell or refinance the home, or no longer live in it.Offered by Michigan State Housing Development Authority (MSHDA).
Michigan state authority certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, for the life of the loan; you apply with an approved lender before you buy.Offered by Michigan State Housing Development Authority (MSHDA).
No legal help resource on our list is for Walled Lake or Oakland County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Walled Lake and all of Oakland County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Walled Lake?
The typical home value in Walled Lake is $224,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Oakland County it is $343,600.
How much does it cost to rent in Walled Lake?
Typical rent in Walled Lake is $1,419 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Oakland County is $1,459.
What is the FHA loan limit in Walled Lake?
Walled Lake uses the FHA limit for all of Oakland County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Walled Lake?
The typical homeowner in Walled Lake pays $2,990 a year, according to the U.S. Census Bureau. That is 1.33% of the home’s value; in Oakland County, the rate is 1.27%.
Where can I find free help to buy or rent in Walled Lake?
There are 7 HUD-approved counseling agencies with an office in Oakland County. 5 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
