Wayland, MI49348

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$332,000
4.4% YoY Growth
Median Household Income
$79,300
25.1% 5-Year Growth
Days on Market
35
6.0% Longer than last year
Home Price Forecast
2.4%
Median Rent
$1,290
28.4% YoY Growth
1-Bed Rent
$1,100
N/A
2-Bed Rent
$1,290
40.5% YoY Growth
3-Bed Rent
$1,350
29.7% YoY Growth

Property Listings — Wayland, MI

As of Oct '25, Realtor.com reports that the median days on market for a home in Wayland, MI is 35. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$398,00019.0%
Listing Count
38-14.0%
Listings as % of Homes0.4%-14.0%
Days on Market
356.0%
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Demographics — Wayland, MI

As of the latest ACS Survey released in 2023, Wayland, MI has a population of 13,600, which has increased by 10.6% over the past 5 years. Wayland, MI is a moderately popular place for families, as children make up 24.5% of the population. The area has a poorly educated workforce, with 23.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.

MetricLatest CensusYoY % Change
Population
13,60010.6%
% Under 18
24.5%-9.6%
% Seniors
17.6%37.5%
% WFH
10.0%212.5%
% w/ College Degree
23.3%5.4%
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As of the latest ACS Survey released in 2023, Wayland, MI is a predominantly white area, with 87.6% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in Wayland, MI is hispanic, making up 4.8% of the population. Foreign-born residents account for 2.3% of the population in Wayland, MI, and this percentage has increased by 15.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

MetricLatest Census5-Year % Change
% White
87.6%-5.3%
% Black
1.9%46.2%
% Hispanic
4.8%45.5%
% Asian
1.5%66.7%
% Foreign Born
2.3%15.0%
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Mortgage and Risk — Wayland, MI

According to HUD data as of 2023, there were 542 mortgage originations in Wayland, MI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Wayland, MI. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

MetricZip Code Average
Total Loan Originations
542
% Conventional Loans
91.0%
% Government Loans
9.0%
% Investor Loans
2.0%
% Second Loans
3.0%
% Cash Out Refinance
11.0%

Loan Activity

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Rentals and Section 8 — Wayland, MI

Wayland, MI lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD
40
Total Units Section 8
40
% Rentals under Section 8
4.3%
% Occupied Section 8
93.0%

Section 8 Opportunity

Home SizeHUD PremiumMarket RentMax HUD Rent
1 Bedroom-$70$1,100$1,030
2 Bedroom-$50$1,290$1,240
3 Bedroom$260$1,350$1,610
4 BedroomN/AN/A$1,770

Affordability — Wayland, MI

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income Ratio3.7
Median Home Price$332,000
Median Household Income$79,300

Wayland, MI — ZIP Code Boundary Map

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Frequently Asked Questions