Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$384,496+5.3% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 18% have cut their price
Income needed to buy, per year$83,351About 1.0× the local median income ($80,702): a stretch for a typical household
Days on market37 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+3.5%Zillow expects prices to rise slightly
The typical home in Milwaukee-Waukesha, WI is worth $384,496, up 5.3% from a year ago. That is well above what local incomes have historically supported: fair value is about $332,492, so the area is 15.6% overvalued. It is a balanced market: homes take about 37 days to sell, listings are up 9% from a year ago, 18% of listings have had a price cut. Zillow expects prices to rise about 3.5% over the next year. A household needs about $83,351 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $80,702. Typical rent is $1,549 a month, or $1,824 for a house. In the latest IRS figures, 3,741 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$384,496
Change in 1 year
+5.3%
Overvalued %
+15.6%
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Fair home value
$332,492
Change in 5 years
+31.4%
Zillow forecast, next 12 months
+3.5%
Home value to income
4.8×
Monthly mortgage payment (20% down)
$2,084
Income needed to afford it
$83,351
Property tax rate
1.44%
Rent and investing
Typical rent
$1,549
Typical rent for houses
$1,824
Price-to-rent ratio
20.7×
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HUD Fair Market Rent, 2 bedrooms
$1,263
Gross rental yield
4.84%
Cap rate (estimate)
3.14%
Market activity
Listings vs a year ago
+8.8%
Days on market
37
Listings with a price cut
17.5%
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Homes for sale
3,670
Pending sales per 100 listings
12
Asking price per sq ft
$227
People and jobs
Median household income
$80,702
Population change (1 year)
+0.2%
Unemployment rate
3.8%
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Population
1,575,010
Income adjusted for cost of living
$83,284
Net moves in (IRS)
−3,741
Cost of living (US = 100)
96.9
Schools, risk and environment
School rating (1 to 10)
5.6
FEMA hazard risk score (0 to 100)
90.3
Unhealthy air days a year
14
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Flood risk score
90.0
Wildfire risk score
36.0
Walkability (1 to 20)
11.1
Road, rail and air noise
53 dB
Questions people ask
Is Milwaukee-Waukesha, WI overvalued?
Home prices in Milwaukee-Waukesha, WI are well above what local incomes have historically supported: fair value is about $332,492, so the area is 15.6% overvalued.
Is Milwaukee-Waukesha, WI a buyer's or seller's market?
Milwaukee-Waukesha, WI is a balanced market: homes take about 37 days to sell, listings are up 9% from a year ago, 18% of listings have had a price cut.
Are home prices going down in Milwaukee-Waukesha, WI?
Home values in Milwaukee-Waukesha, WI are up 5.3% over the last year. Zillow's forecast for the next 12 months is +3.5%.
How much do you need to earn to buy a home in Milwaukee-Waukesha, WI?
A household needs about $83,351 a year to afford the typical home in Milwaukee-Waukesha, WI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $80,702.