109th most affordable of 199 in Metro Detroit
Cost of Living in Waterford, MI
A typical home in Waterford costs about $1,349 a month, 21.0% of the median household income of $77,101. That makes Waterford the 35th most affordable of 56 places in Oakland County and 109th of 199 across Metro Detroit.
- Median rent a month
- $1,111
- Median home value
- $250,900
- Owner cost with a mortgage
- $1,586
- Of income on housing
- 21.0%
Waterford against Oakland County and the metro
| Census median | Waterford | Oakland County | Metro Detroit |
|---|---|---|---|
| Median rent (monthly) | $1,111 | $1,376 | $1,207 |
| Median home value | $250,900 | $343,600 | $249,700 |
| Owner cost with a mortgage (monthly) | $1,586 | $1,998 | $1,720 |
| Median household income (yearly) | $77,101 | $97,760 | $76,664 |
| Share of income on housing | 21.0% | 20.7% | 22.9% |
Ranked 35th most affordable of 56 in Oakland County. See all 56.
Cost of living near Waterford
The towns around Waterford, each with its own page.
- Commerce Rent $2,005 · Home $365,700 118th most affordable in the metro
- Orion Township Rent $1,327 · Home $369,900 27th most affordable in the metro
- Pontiac Rent $1,063 · Home $121,700 192nd most affordable in the metro
- West Bloomfield Rent $2,031 · Home $426,200 115th most affordable in the metro
- Auburn Hills Rent $1,477 · Home $245,000 126th most affordable in the metro
- White Lake Rent $1,516 · Home $327,000 120th most affordable in the metro
- Keego Harbor Rent $1,194 · Home $255,900 184th most affordable in the metro
- Sylvan Lake Rent $1,113 · Home $391,000 64th most affordable in the metro
Living in Waterford
- Homes for sale in Waterford Listings and off-market deals
- Rentals in Waterford Houses and apartments for rent
- Waterford neighborhoods Every neighborhood on a map
- Waterford crime rate From Waterford's own police reports
- Waterford cost of living by neighborhood Every neighborhood ranked, updated monthly
- Most expensive neighborhoods in Waterford The last 12 months
- Least expensive neighborhoods in Waterford The last 12 months
- Cost of living in Oakland County Every town in the county, ranked
- Most affordable cities in Metro Detroit All six counties, ranked
- Waterford city guide Pros, homes and city services
Waterford cost of living questions
5 questions
Is Waterford, MI expensive to live in?
A typical home in Waterford takes 21.0% of the median household income, against 22.9% across Metro Detroit, which ranks it 109th most affordable of 199 places.
What is the average rent in Waterford?
The median gross rent is $1,111 a month, rent plus the utilities the renter pays, 8% below the metro.
How much does a house cost in Waterford?
Owners put the median home value at $250,900, the same as the metro. With a mortgage, the median owner pays $1,586 a month for the mortgage, taxes, insurance and utilities.
What income do you need to live in Waterford?
Spending no more than 30% of income on housing, the usual rule, a typical Waterford home at $1,349 a month calls for about $54,000 a year. The median household here earns $77,101.
Where do these numbers come from?
The U.S. Census Bureau's American Community Survey 2020-2024 5-year estimates for Waterford. They are medians, half above and half below, and today's listings and rents can differ.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates.