Wayland, MI—49348
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wayland, MI
As of Oct '25, the median home price in Wayland, MI is $332,000, with a year-over-year change of 4.3%. This indicates that home prices in Wayland, MI are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $332,000 | 4.4% |
| Single Family | $338,000 | 4.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $275,000 | 5.0% |
3 Bed | $314,000 | 4.0% |
4 Bed | $372,000 | 3.3% |
| 5 Bed | $468,000 | 5.2% |
% of Housing Stock
Rental Trends — Wayland, MI
As of July '25, Rentcast reports the average rent in Wayland, MI is $1,310, with a year-over-year rent change of -28.4%. Per bedroom, the median rent as of July '25 in Wayland, MI is 1-bedrooms: $1,100, 2-bedrooms: $1,370, 3-bedrooms: $1,350. The most common rental property sizes in Wayland, MI are 3-bedroom and 2-bedroom, accounting for 37.0% and 33.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,290 | $1,310 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,100 | $1,100 |
| 2 Bed Rent | $1,290 | $1,370 |
| 3 Bed Rent | $1,350 | $1,350 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $398,000 | 19.0% |
Listing Count | 38 | -14.0% |
| Listings as % of Homes | 0.4% | -14.0% |
Days on Market | 35 | 6.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,600 | 10.6% |
% Under 18 | 24.5% | -9.6% |
% Seniors | 17.6% | 37.5% |
% WFH | 10.0% | 212.5% |
% w/ College Degree | 23.3% | 5.4% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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
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 Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $1,100 | $1,030 |
| 2 Bedroom | -$50 | $1,290 | $1,240 |
| 3 Bedroom | $260 | $1,350 | $1,610 |
| 4 Bedroom | N/A | N/A | $1,770 |
Affordability — Wayland, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $332,000 |
| Median Household Income | $79,300 |