Real Estate Investing in Waterford, Michigan (48329)
Should you buy in 48329 (Waterford, MI)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Waterford, MI (48329)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 48329 Waterford
Investors eyeing 48329 need to respect the fundamentals at play. Home values of $297K come alongside slower price movement and elevated management overhead.
From an investor standpoint, the numbers look inviting — $297K purchase price, 0.0% nominal cap — the work to hit that pro forma in 48329 is substantial and deserves full respect.
Statewide comparisons place 48329 among MI's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A resilient renter share of 11% in 48329 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 48329 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Waterford:
Property Strategy for 48329
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $185,725 | $1,370 | 5.3% | +6.2% | $185,725 |
| 2BR | $209,536 | $1,720 | 5.9% | +6.9% | $104,768 |
| 3BR | $278,808 | $2,100 | 5.4% | +6.5% | $92,936 |
| 4BR | $346,874 | $2,280 | 4.7% | +6.2% | $86,719 |
| 5BR | $462,829 | — | — | +6.0% | $92,566 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 48329 Compare?
| Metric | 48329 | Waterford | Detroit-Warren-Dearborn, MI | Michigan |
|---|---|---|---|---|
| Home Value | $297,082 | $279,418 | N/A | $253,279 |
| 5-Year CAGR | 5.5% | 5.4% | N/A | 6.8% |
| Avg Rent | $1,716 | $1,421 | N/A | - |
| Cap Rate | 4.5% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 48329 (Waterford, MI). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 48329 (Waterford, MI)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Oakland County
Manage rentals here? List your business →Symmetry Management specializes in commercial real estate management. summary from their website
Beacon Management offers property management services for various communities and properties across Michigan, including Ann Arbor, Auburn Hills, Bloomfield Hills, Canton, and Southfield. summary from their website
Great Day Realty is a real estate company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $297,082 |
| Monthly Rent | $1,716 |
| Price-to-Rent | 14.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.9% |
| Cap Rate | 4.5% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +6.7% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (4.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 48329
Population: 24,022
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 48329
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
North Sashabaw Elementary School
Clarkston Elementary School
Pine Knob Elementary School
Renaissance Virtual School
Clarkston Junior High School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 7,973 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What approach is best for Waterford, MI real estate?
Investors usually favor careful cash-flow rentals with hands-on management in Waterford, MI. With home values at $297K and rents near $1,716/mo, other strategies can work but produce steady rather than outsized returns.
How strong is the working-renter base in Waterford, MI?
Expect a solid tenant pool in Waterford, MI. The rental market absorbs $1,716/mo rents without meaningful friction.
Do rentals sit vacant long in Waterford, MI?
Vacancy risk in Waterford, MI is elevated. That supports consistent cash flow for typical rental holds.
Are landlord laws favorable in Waterford, MI?
Landlord-friendliness in Waterford, MI is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What kind of market is Waterford, MI for investors?
Waterford, MI sits at an investability rating of 3.0/5, with median home values near $297K and average rents around $1,716/mo. That combination puts it in the robust tier for investor interest.
See what 48329 really looks like for investors
You're reading the free snapshot. Unlock appreciation trends, cap rates, vacancy signals, Section 8 data, and full demographics for 48329.
AI Market Advisor
Ask questions about investing in 48329 (Waterford)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 48329 (Waterford, MI).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.