Living in Walloon Lake, Michigan
Cost of living, income, home prices, rent and demographics of Walloon Lake · Census data 2020–2024
Walloon Lake has 294 residents with a median age of 50.7. The median household income is $87,303 (20% higher than the Michigan median), the median home value is $285,400.
Walloon Lake is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Walloon Lake at a glance
- Population
- 294
- Median age
- 50.7State: 40.2
- Median household income
- $87,303State: $72,875
- Median home value
- $285,400State: $231,600
- Homeowners
- 82.7%
- Bachelor's degree or higher
- 52.2%
- Average commute
- 22 min
Is Walloon Lake a good place to live?
Pros: Median household income 20% higher than the Michigan median; an average commute of 22 minutes; unemployment of 1.7%; a poverty rate of 4.4%.
Cons: Home values 23% higher than the state median.
The weather is best in June to September.
Cost of living in Walloon Lake
Housing is the biggest part of the cost of living. In Walloon Lake the median home value is $285,400, 14% lower than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay $1,702 a month in housing costs.
Walloon Lake median household income
The median household income in Walloon Lake is $87,303 and the income per person is $84,905. 4.4% of residents live below the poverty line (Michigan: 13.2%).
Housing in Walloon Lake: homes for sale and rent
- Housing units
- 245
- Owner-occupied
- 82.7%
- Renter-occupied
- 17.3%
- Vacant
- 45.7%Includes seasonal homes
- Median year built
- 1975
- Average household size
- 2.21
45.7% of homes are vacant most of the year, a sign that Walloon Lake has many vacation and second homes.
Walloon Lake demographics
- Population
- 294
- Median age
- 50.7
- Under 18
- 17.7%
- 65 and older
- 31.6%
- Households
- 133
- Foreign-born
- 0%
- Veterans
- 7.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Walloon Lake ›
Education in Walloon Lake
52.2% of adults 25 and older in Walloon Lake have a bachelor's degree or higher (Michigan: 32.4%), and 23.7% have a graduate or professional degree.
Jobs and commute in Walloon Lake
- Unemployment rate
- 1.7%State: 5.7%
- Average commute
- 22 minState: 24 min
- Work from home
- 3.4%
- Drive alone
- 77.6%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 91%
Walloon Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Walloon Lake | 294 | $87,303 | $285,400 | — |
| Boyne City | 3,825 | $64,855 | $249,000 | $906 |
| Horton Bay | 374 | $69,926 | $345,500 | — |
| Petoskey | 5,856 | $74,196 | $364,100 | $1,006 |
| Boyne Falls | 361 | $62,159 | $167,700 | $949 |
| Bay View | 164 | $236,500 | $375,500 | — |
| Advance | 377 | $110,417 | $563,800 | $1,375 |
| Conway | 237 | $77,000 | $425,000 | — |
| Bay Shore | 697 | $75,217 | $153,600 | $869 |
More for people moving to Walloon Lake
Walloon Lake ZIP code ›Weather and climate ›Living in Walloon Lake: FAQ
What is the median household income in Walloon Lake, MI?
The median household income in Walloon Lake is $87,303, 20% higher than the Michigan median of $72,875 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Walloon Lake?
The median home value in Walloon Lake is $285,400, compared with $231,600 in Michigan.
Is Walloon Lake, MI a good place to live?
Pluses: median household income 20% higher than the Michigan median; an average commute of 22 minutes; unemployment of 1.7%; a poverty rate of 4.4%. Minuses: home values 23% higher than the state median.
What is the median age in Walloon Lake?
The median age in Walloon Lake is 50.7 years (Michigan: 40.2).
How long is the commute in Walloon Lake?
The average commute to work in Walloon Lake is 22 minutes; 3.4% of workers work from home.
What is the unemployment rate in Walloon Lake?
The unemployment rate in Walloon Lake is 1.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Walloon Lake?
52.2% of adults in Walloon Lake have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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