Walker, MI—49534
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Walker, MI
Home Price Trends — Walker, MI
As of Oct '25, the median home price in Walker, MI is $368,000, with a year-over-year change of 4.4%. This indicates that home prices in Walker, MI are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $368,000 | 4.4% |
| Single Family | $372,000 | 4.5% |
| Condos | $342,000 | 4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $299,000 | 5.3% |
3 Bed | $347,000 | 5.5% |
4 Bed | $428,000 | 4.4% |
| 5 Bed | $516,000 | 2.8% |
% of Housing Stock
Rental Trends — Walker, MI
As of July '25, Rentcast reports the average rent in Walker, MI is $1,580, with a year-over-year rent change of -21.8%. Per bedroom, the median rent as of July '25 in Walker, MI is 1-bedrooms: $1,330, 2-bedrooms: $1,410, 3-bedrooms: $1,800, 4-bedrooms: $2,500. The most common rental property sizes in Walker, MI are 2-bedroom and 1-bedroom, accounting for 40.7% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,580 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,340 | $1,330 |
| 2 Bed Rent | $1,280 | $1,410 |
| 3 Bed Rent | $1,800 | $1,800 |
| 4 Bed Rent | $2,500 | $2,500 |
% of Rental Stock
Property Listings — Walker, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Walker, MI is 35. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $421,000 | -1.0% |
Listing Count | 50 | 14.0% |
| Listings as % of Homes | 0.3% | 14.0% |
Days on Market | 35 | -16.0% |
Demographics — Walker, MI
As of the latest ACS Survey released in 2023, Walker, MI has a population of 23,400, which has increased by 7.3% over the past 5 years. Walker, MI is a moderately popular place for families, as children make up 21.3% of the population. The area has a moderately educated workforce, with 34.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,400 | 7.3% |
% Under 18 | 21.3% | -5.8% |
% Seniors | 18.9% | 32.2% |
% WFH | 8.5% | 142.9% |
% w/ College Degree | 34.0% | -0.9% |
As of the latest ACS Survey released in 2023, Walker, MI is a predominantly white area, with 87.0% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Walker, MI is hispanic, making up 4.3% of the population. Foreign-born residents account for 4.2% of the population in Walker, MI, and this percentage has decreased by 20.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.0% | -2.8% |
% Black | 2.4% | 20.0% |
% Hispanic | 4.3% | 53.6% |
% Asian | 2.1% | -30.0% |
% Foreign Born | 4.2% | -20.8% |
Mortgage and Risk — Walker, MI
According to HUD data as of 2023, there were 542 mortgage originations in Walker, MI, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Walker, MI. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 542 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Walker, MI
As of 2024, the percent of homes in Walker, MI under the Section 8 program is 4.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Walker, MI, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 182 |
Total Units Section 8 | 140 |
% Rentals under Section 8 | 4.9% |
% Occupied Section 8 | 97.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $1,340 | $1,220 |
| 2 Bedroom | $160 | $1,280 | $1,440 |
| 3 Bedroom | $70 | $1,800 | $1,870 |
| 4 Bedroom | -$440 | $2,500 | $2,060 |
Affordability — Walker, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $368,000 |
| Median Household Income | $78,800 |