Rent by ZIP code in Waterford
| ZIP code | County | Typical rent | vs city median |
|---|---|---|---|
| 48329 | Oakland County | $1,773 | +49% |
| 48328 | Oakland County | $1,191 | 0% |
| 48327 | Oakland County | $1,162 | -2% |
Rent by bedroom count in Waterford
Zillow's index above blends every unit size into one number. For a bedroom level view, these are HUD's FY2027 Fair Market Rents for Oakland County. They include utilities and sit near the 40th percentile of the market, so treat them as the low side of what a typical unit lists for. Oakland County uses Small Area FMRs, and the two bedroom figure runs from $1,300 to $1,650 depending on the Waterford ZIP code.
| Unit size | FY2027 Fair Market Rent | Change from FY2026 |
|---|---|---|
| Studio | $1,047 | +3.8% |
| 1 bedroom | $1,167 | +4.0% |
| 2 bedroom | $1,459 | +3.4% |
| 3 bedroom | $1,777 | +3.1% |
| 4 bedroom | $1,929 | +3.3% |
Source: HUD Fair Market Rents. Updates when HUD publishes a new fiscal year.
Is rent going up or down in Waterford?
Typical rent across Oakland County is $1,738 as of August 2026. That is up 3.6% from a year earlier and up 20.4% over five years.
| Year | Typical rent, Oakland County | Change |
|---|---|---|
| 2021 | $1,490 | +10.2% |
| 2022 | $1,544 | +3.6% |
| 2023 | $1,592 | +3.1% |
| 2024 | $1,662 | +4.4% |
| 2025 | $1,686 | +1.5% |
| 2026 (through August) | $1,738 | +3.1% |
Zillow Observed Rent Index for the county, all home types, last published month of each year. Each row is compared with the end of the year before it.
Waterford rent questions
- What is the average rent in Waterford, MI?
- Typical asking rent in Waterford is $1,191 a month as of July 2026, across 3 ZIP codes. By ZIP code it runs from $1,162 to $1,773.
- How much is rent for a 2 bedroom in Waterford?
- HUD's FY2027 Fair Market Rent for a two bedroom in Oakland County is $1,459 a month including utilities. A one bedroom is $1,167 and a three bedroom is $1,777. Fair Market Rent is set near the 40th percentile, so a typical unit lists somewhat higher.
- Is rent going up or down in Waterford?
- Rent is rising. Typical rent in Oakland County is $1,738 as of August 2026, up 3.6% from a year earlier.
- What is the cheapest ZIP code to rent in Waterford?
- ZIP 48327 has the lowest typical asking rent in Waterford at $1,162 a month, compared with $1,191 for the city overall.
- How much income do you need to rent in Waterford?
- Most landlords look for gross income of about three times the rent. At the typical Waterford rent of $1,191, that is about $3,573 a month, or $42,876 a year. This is a common screening rule of thumb, and individual landlords set their own.
How to use these numbers
These are Zillow Observed Rent Index values, a smoothed measure of typical asking rent for single family homes, condos, and apartments in each ZIP code. They describe what units are listed for, not what any specific unit will get. Condition, bedroom count, and the exact block all move the number.
If you are underwriting a purchase, use the ZIP figure rather than the city median, and then verify against live listings for the same bedroom count before you commit. Waterford sits in the Detroit-Warren-Dearborn, MI metro area.