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Walloon Lake, MI
Full City Profile · Michigan · Emmet County County
3.8
/5.0
B+
Good
258
Population
190/sq mi density
$84,250
Median Income
$68,260 per capita
$260,000
Home Value
$392,643 Zillow
44°F
Avg Temperature
270 sunny days/yr
106
Violent Crime/100K
1,273 property/100K
B+
Overall
3.8 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
4.7 / 5.0
$84,250 median income, 1.0% unemployment
A+
Affordability
5.0 / 5.0
$260,000 home value, /mo rent
F
Safety
1.0 / 5.0
106 violent crimes/100K
A+
Education
4.7 / 5.0
46.5% bachelor's degree or higher
Housing Overview
Median Home Value
$260,000
8% below
US avg: $281,900
Homeownership Rate
72.1%
10% above US avg (65.4%)
Total Housing Units
212
Median year built: 1975
Home Value by Source
Census Median
$260,000
Zillow (ZHVI)
$392,643
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
72.1%
Owner-Occupied
27.9%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Affordability & Housing Stock
Rent Burden
24.0%
of renters spending 30%+ of income on housing
23% below US avg (31.0%)
Median Year Built
1975
Average age of housing stock: 51 years
Homeownership Rate
72.1%
Complete Housing Data
Home Values
| Census Median Value | $260,000 |
| Zillow Home Value (ZHVI) | $392,643 |
Rent
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
Ownership & Stock
| Owner-Occupied | 72.1% |
| Renter-Occupied | 27.9% |
| Homeownership Rate | 72.1% |
| Total Housing Units | 212 |
| Median Year Built | 1975 |
| Rent Burden | 24.0% |