The Springs Apartment Homes
30995 Springlake Blvd,
Novi, MI 48377
1-2 Beds | $1,021 - $2,105
Rental Market Trends in Walled Lake, MI
What is the average rent in Walled Lake, MI?
$986/month
Average Rent
707 Sq Ft
Average Apartment Size
-8.9%
Decrease in the Last Year
As of July 2025, the average rent in Walled Lake, MI is $986 per month. This is 40% lower than the national average rent of $1,637/month, making renting in Walled Lake more affordable than most cities in the US. When you rent an apartment in Walled Lake, you can expect to pay about $1,107 per month for a studio, $986 for a one-bedroom apartment, and around $1,266 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,333 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Walled Lake, MI?
In the past year, rent has decreased by 8.9%, which averages out to $87 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in Walled Lake, MI
Last Updated July 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
10%
Below $700/month
30%
$700 - $1,000/month
50%
$1,001 - $1,500/month
10%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Walled Lake?
Based on current rent prices, Downtown Walled Lake and Addington Corners" are the most affordable neighborhoods in Walled Lake.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Walled Lake?
Based on current rent prices, Addington Corners and Downtown Walled Lake" are the most expensive neighborhoods in Walled Lake.
Neighborhood
Average Rent
Average Sq Ft
Which Walled Lake neighborhoods have the most rentals available?
The neighborhoods in Walled Lake with the most apartments available are Addington Corners and Downtown Walled Lake" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Walled Lake, MI?
Because the average rent in Walled Lake is $986, you’ll want to make about $3,286 per month or $39,432 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Walled Lake, MI compare to other nearby cities and neighborhoods?
Use the tool below to compare Walled Lake, MI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,107/month
-
One Bedroom
$1,064/month
-
Two Bedroom
$1,414/month
-
Three Bedroom
$1,333/month
-
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Methodology
† 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 2025.
* Percentages may not total 100 due to rounding.