[2] Laufer was inducted into the International Swimming Hall of Fame as an "Honor Swimmer" in 1973.

He married Geneivieve Kleinofen around 1929 and had two children with her – a son and a daughter.

Genievieve contracted intestinal influenza and died of complications from the disease January 8, 1934.

Two years later in 1974 Walter married Wanda Cord Bockhorst, a widow living in Cincinnati.

Laufer died on July 16, 1984, at age 78 in Midland, Texas while visiting his son.