Median Age
44 Years
Largest Age Group
55-64 Years
Approximately 15% of Residents
Under 20
20%
Over 65
21%
Avg Rent
$1,026
Population
68,713
Renter Mix
27% Rent
Waterford Township is a lakeside suburb of Detroit where more than 30 named lakes weave through residential streets, giving the community a personality unlike almost any other Metro Detroit destination. Daily life here feels genuinely unhurried: neighbors gather around the water, local diners draw regulars from surrounding blocks, and green space is rarely more than a short drive away. Clintonville, Drayton Plains, and Elizabeth Lake are among the township's distinct communities, each with its own character rooted in lakefront living.
Renters will find a range of apartment communities, from lakefront ones to properties hidden in the trees. The rental stock trends toward low-rise and garden-style construction, with some more contemporary builds along the lakefronts.
Oakland Community College's Highland Lakes campus is about five miles away, and Oakland University is within a short commute. The Oakland County International Airport sits on the township's western edge, adding a practical transportation anchor. The Fourth of July is practically a township-wide event, with individual lakes hosting their own fireworks shows that light up the sky from multiple directions at once.
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 September 2026, the average apartment rent in Waterford, MI is $763 for a studio, $1,026 for one bedroom, $1,250 for two bedrooms, and $1,716 for three bedrooms. Apartment rent in Waterford has increased by 2.2% 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 September 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.