Median Age
44 Years
Largest Age Group
55-64 Years
Approximately 15% of Residents
Under 20
20%
Over 65
21%
Area Guide
Avg Rent
$1,028
Population
68,713
Renter Mix
27% Rent
Directly west of the city of Pontiac, Waterford is a lakefront suburban destination with affordable apartments and houses for rent in southeast Michigan. Situated 38 miles northwest of Detroit, residents can enjoy the ease of suburbia with the convenience of big city proximity. And if commuting is your concern, major roads travel through town and interstate highways are easily accessible, not to mention the Oakland County International Airport sits on the western end of town!
This suburb is full of lakeside property, restaurants, entertainment options, and green outdoor space. Ever seen friendly farm animals at a city park? After visiting Hess-Hathaway Park, you can officially check that off your list! Visit the popular Dodge #4 State Park for sandy beaches along a mile of shoreline on Cass Lake where you can fish, swim, boat, watch the wildlife roam, and relax on the waterfront.
Take a peek into local living at CJ’s Upper Deck, a casual eatery with a lively Tiki bar and outdoor patio that exudes local charm. Catch a new movie at MJR Waterford Digital Cinema near the airport, tee off at Pontiac Country Club, or cool off on a warm summer day at Waterford Oaks Waterpark on nearly 200 acres with a motocross track and volleyball court to boot!
The Fork n' Pint restaurant serves delicious meals and brews.
Experience canal-front living in the Forest Bay Residential Condominium Community.
Aerial View of Otter Lake and Sylvan Lake in Waterford
Witness homes lining the shores of Elizabeth Lake in Waterford.
Laugh, chuckle and giggle at One Night Stan's Comedy Club.
Aim for the Perfect Game at 300 Bowl in Waterford.
Median Household Income
$70,419
Average: $89,915
Education
17,900
Residents Have a Degree
Job Market
37,293
Workers Employed
Median Age
44 Years
Largest Age Group
55-64 Years
Approximately 15% of Residents
Under 20
20%
Over 65
21%
Housing Distribution
Waterford has more homeowners than renters.
Education Distribution
Review this city's overall education levels.
As of June 2026, the average apartment rent in Waterford, MI is $783 for a studio, $1,027 for one bedroom, $1,268 for two bedrooms, and $1,681 for three bedrooms. Apartment rent in Waterford has increased by 1.7% in the past year.
Explore how walkable, bikeable, drivable, and transit-friendly Waterford, MI is for everyday living.
Fairly Walkable
Walkability
Very Drivable
Drivability
Fairly Bikeable
Bikeability
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.