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These days, finding an affordable place to live in the Waterford area can be challenging. Home prices in Waterford are now at a median cost of $267,233, higher than the Michigan average of $250,415.
The average cost of rent is $1,221/mo in Waterford, primarily driven by the current value of real estate in the Waterford area. In Waterford, 24.48% of households rent, and 30.63% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Waterford is $6,901 per month. Households that rent pay about 17.69% of their income on rent here. Waterford’s most expensive areas are in the northeastern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Lake Angelus, MI: equally priced homes
- Sylvan Lake, MI: higher priced homes
- Keego Harbor, MI: higher priced homes
- Pontiac, MI: less expensive homes
- Orchard Lake Village, MI: higher priced homes
- Village of Clarkston, MI: higher priced homes
- White Lake, MI: higher priced homes
- Clarkston, MI: higher priced homes
- West Bloomfield, MI: higher priced homes
- Commerce Township, MI: higher priced homes
Cities with Similar Populations
- Great Falls, MT: equally priced homes
- Puyallup, WA: higher priced homes
- Trujillo Alto, PR: less expensive homes
- Kingsport, TN: less expensive homes
- Huntington, WV: less expensive homes
- Huntersville, NC: higher priced homes
- Fayetteville, GA: higher priced homes
- Ewa Beach, HI: higher priced homes
- Eastvale, CA: higher priced homes
- East Orange, NJ: higher priced homes
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