Waverly, MI
Population 23,301 · Michigan
About Waverly, MI
Waverly is a mid-sized city in Michigan with a population of 23,301 residents. The median household income is $75,868 per year, which is above the national average. The median age in Waverly is 40.7 years.
Housing in Waverly has a median home value of $222,300 and median monthly rent of $1,125. Of the 11,761 total housing units, the majority are owner-occupied, with 6,341 owner-occupied and 5,027 renter-occupied units.
The unemployment rate in Waverly is 5.3% and the poverty rate is 8.5%. 43.9% of residents hold a bachelor's degree or higher. The average commute time is 18.6 minutes.
Cost of Living in Waverly, MI
Compared to national averages, Waverly has a median household income of $75,868 (1% above the national median of $75,149). Home values average $222,300, which is 9% below the national median. Monthly rent at $1,125 is 3% below the US average of $1,163. Within Michigan, Waverly's income is 15% above the state average of $66,017, and home values are 21% above the state median of $183,391.
Why Live in Waverly, MI?
Waverly offers a strong local economy with a median household income of $75,868, well above the national average, and affordable housing with a median home value of $222,300, below the US average of $244,900, and rent that’s lower than the national average at $1,125/month. Additionally, the city features a well-educated community where 43.9% of residents hold a bachelor’s degree or higher, and a low poverty rate of 8.5%, better than the national average, and short commute times averaging just 18.6 minutes.
Waverly has a population of 23,301 with a median age of 40.7 years. Compare Waverly with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Waverly
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Wyandotte | 24,593 | $67,846 | $159,700 | Compare |
| Auburn Hills | 24,911 | $78,727 | $233,900 | Compare |
| Romulus | 24,951 | $72,235 | $149,100 | Compare |
| Birmingham | 21,612 | $153,125 | $712,700 | Compare |
| Norton Shores | 25,000 | $73,390 | $214,000 | Compare |
| Mount Pleasant | 21,420 | $39,924 | $168,700 | Compare |
| Walker | 25,201 | $73,835 | $266,400 | Compare |
| Holt | 25,275 | $87,827 | $213,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Waverly
What is the population of Waverly, MI?
The population of Waverly, MI is 23,301 according to the latest Census data.
What is the median household income in Waverly?
The median household income in Waverly, MI is $75,868 per year.
What is the median home value in Waverly?
The median home value in Waverly, MI is $222,300.
What is the average rent in Waverly?
The median monthly rent in Waverly, MI is $1,125.
What is the unemployment rate in Waverly?
The unemployment rate in Waverly, MI is 5.3%.