The market in numbers
Home values over the last two years
The typical home in the Milwaukee metro was worth $385,500 in September 2024 and $419,600 in August 2026, a change of +8.9% over two years. Values are at the highest point of the period.
Where prices are rising fastest
The ten Milwaukee ZIP codes with the strongest change in home values over the past twelve months.
| ZIP code | Area | Home value | 12 months | 5 yrs, per year |
|---|---|---|---|---|
| 53206 | Milwaukee | $91,400 | +14.5% | +9.8% |
| 53002 | Addison | $436,100 | +10.7% | +6.4% |
| 53007 | Butler | $302,600 | +10.2% | +4.9% |
| 53153 | Genesee | $517,300 | +9.7% | +6.6% |
| 53103 | Vernon | $513,600 | +9.3% | +7.0% |
| 53118 | Ottawa | $624,100 | +8.3% | +6.2% |
| 53130 | Hales Corners | $411,200 | +8.3% | +5.8% |
| 53029 | Hartland | $677,100 | +8.2% | +5.2% |
| 53189 | Waukesha | $514,400 | +7.6% | +5.8% |
| 53119 | Eagle | $544,400 | +7.4% | +6.2% |
Where prices are falling
4 of the metro's ZIP codes are below where they were a year ago. These are the ten largest declines.
| ZIP code | Area | Home value | 12 months | From its peak |
|---|---|---|---|---|
| 53203 | Milwaukee | $380,600 | −4.4% | −4.8% |
| 53233 | Milwaukee | $191,600 | −3.0% | −3.1% |
| 53202 | Milwaukee | $363,100 | −2.0% | −2.4% |
| 53235 | Saint Francis | $286,100 | −0.4% | −2.5% |
Best rental yields
Gross yield is a year's rent divided by the home value, before costs. These are the 10 highest yields among the 44 Milwaukee ZIP codes with a rent index.
| ZIP code | Area | Home value | Monthly rent | Gross yield | Rent, 12 months |
|---|---|---|---|---|---|
| 53206 | Milwaukee | $91,400 | $1,000 | 13.3% | +4.1% |
| 53205 | Milwaukee | $160,000 | $1,500 | 11.4% | n/a |
| 53204 | Milwaukee | $164,300 | $1,500 | 10.8% | +6.4% |
| 53209 | Milwaukee | $166,600 | $1,400 | 10.3% | +4.3% |
| 53218 | Milwaukee | $168,800 | $1,400 | 9.9% | +7.0% |
| 53223 | Milwaukee | $233,200 | $1,700 | 8.7% | n/a |
| 53210 | Milwaukee | $169,400 | $1,200 | 8.6% | +8.0% |
| 53216 | Milwaukee | $176,600 | $1,300 | 8.5% | +4.6% |
| 53224 | Milwaukee | $247,000 | $1,400 | 7.0% | +4.3% |
| 53212 | Milwaukee | $215,100 | $1,200 | 6.9% | +8.1% |
Most affordable against local incomes
Home value divided by the median household income of the people who live in the ZIP code. A lower multiple means homes cost fewer years of local earnings. The metro typical is 4.5×.
| ZIP code | Area | Home value | Median income | Price to income |
|---|---|---|---|---|
| 53206 | Milwaukee | $91,400 | $29,300 | 3.1× |
| 53153 | Genesee | $517,300 | $152,500 | 3.4× |
| 53209 | Milwaukee | $166,600 | $48,500 | 3.4× |
| 53222 | Milwaukee | $268,100 | $77,000 | 3.5× |
| 53210 | Milwaukee | $169,400 | $48,200 | 3.5× |
| 53204 | Milwaukee | $164,300 | $45,900 | 3.6× |
| 53224 | Milwaukee | $247,000 | $67,800 | 3.6× |
| 53218 | Milwaukee | $168,800 | $45,600 | 3.7× |
| 53002 | Addison | $436,100 | $117,500 | 3.7× |
| 53103 | Vernon | $513,600 | $137,100 | 3.8× |
Who is moving in
Household moves between the 2022 and 2023 tax years. Migration is measured by county, so the figures cover each county in the metro rather than single ZIP codes. 2 of the metro's 4 counties gained households. The last column is how much more, or less, the average arriving household earned than the average household that left.
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Waukesha County | +684 | −$17.8M | −$3,636 |
| Ozaukee County | +120 | +$77.2M | +$12,212 |
| Washington County | −148 | +$10.6M | +$3,216 |
| Milwaukee County | −3,696 | −$812.2M | −$14,745 |
What CITIZEN sees
CITIZEN grades every US ZIP code on one national scale, reading price and its direction, rent, local earnings, resident equity and where buyers and their money are arriving from. Grades are ranks: an A is the top 10% of the country, an F the bottom 10%. In the Milwaukee metro, 5 of 79 ZIP codes grade A and 2 grade F. Which ones, and why, is in CITIZEN.
All 79 ZIP codes
Every ZIP code in the metro with a home value, in numerical order.
Show all 79 ZIP codes
| ZIP code | Area | Home value | 12 months | 5 yrs, per year | Monthly rent | Gross yield |
|---|---|---|---|---|---|---|
| 53002 | Addison | $436,100 | +10.7% | +6.4% | n/a | n/a |
| 53004 | Belgium | $400,000 | +6.8% | +5.1% | n/a | n/a |
| 53005 | Brookfield | $508,900 | +4.6% | +5.8% | $2,300 | 5.3% |
| 53007 | Butler | $302,600 | +10.2% | +4.9% | n/a | n/a |
| 53012 | Cedarburg | $545,900 | +6.3% | +4.6% | n/a | n/a |
| 53017 | Richfield | $580,300 | +5.0% | +4.7% | n/a | n/a |
| 53018 | Delafield | $695,200 | +5.8% | +5.5% | n/a | n/a |
| 53021 | Fredonia | $424,500 | +6.0% | +5.3% | n/a | n/a |
| 53022 | Germantown | $465,700 | +5.0% | +5.2% | n/a | n/a |
| 53024 | Grafton | $477,200 | +5.9% | +5.3% | $2,000 | 4.9% |
| 53027 | Hartford | $419,600 | +5.5% | +5.5% | $1,200 | 3.5% |
| 53029 | Hartland | $677,100 | +8.2% | +5.2% | n/a | n/a |
| 53033 | Richfield | $518,400 | +6.0% | +5.3% | n/a | n/a |
| 53037 | Jackson | $422,400 | +5.5% | +5.8% | n/a | n/a |
| 53040 | Kewaskum | $404,400 | +6.6% | +5.4% | n/a | n/a |
| 53045 | Brookfield | $549,200 | +4.5% | +5.5% | $2,200 | 4.9% |
| 53046 | Lannon | $525,500 | +6.0% | +4.8% | n/a | n/a |
| 53051 | Menomonee Falls | $439,900 | +5.3% | +4.1% | $1,900 | 5.2% |
| 53058 | Nashotah | $748,000 | +3.3% | +4.2% | n/a | n/a |
| 53066 | Oconomowoc | $584,800 | +6.6% | +5.3% | $1,900 | 3.8% |
| 53069 | Okauchee | $767,900 | +6.1% | +4.9% | n/a | n/a |
| 53072 | Village of Pewaukee | $552,200 | +6.5% | +4.1% | n/a | n/a |
| 53074 | Port Washington | $392,400 | +6.1% | +5.5% | n/a | n/a |
| 53076 | Richfield | $600,600 | +7.0% | +5.8% | n/a | n/a |
| 53080 | Saukville | $398,000 | +7.2% | +5.4% | n/a | n/a |
| 53086 | Slinger | $475,100 | +6.0% | +6.0% | n/a | n/a |
| 53089 | Lisbon | $554,700 | +5.4% | +5.0% | n/a | n/a |
| 53090 | West Bend | $375,300 | +7.2% | +5.9% | n/a | n/a |
| 53092 | Mequon | $605,400 | +5.7% | +2.7% | n/a | n/a |
| 53095 | West Bend | $414,200 | +6.6% | +6.0% | $1,300 | 3.7% |
| 53097 | Mequon | $681,000 | +5.6% | +3.2% | n/a | n/a |
| 53103 | Vernon | $513,600 | +9.3% | +7.0% | n/a | n/a |
| 53110 | Cudahy | $291,100 | +5.5% | +6.2% | $1,500 | 6.1% |
| 53118 | Ottawa | $624,100 | +8.3% | +6.2% | n/a | n/a |
| 53119 | Eagle | $544,400 | +7.4% | +6.2% | n/a | n/a |
| 53122 | Elm Grove | $697,100 | +6.3% | +5.8% | $3,400 | 5.9% |
| 53129 | Greendale | $389,900 | +5.6% | +4.9% | n/a | n/a |
| 53130 | Hales Corners | $411,200 | +8.3% | +5.8% | $1,700 | 5.0% |
| 53132 | Franklin | $446,800 | +3.7% | +5.0% | $1,900 | 5.0% |
| 53146 | New Berlin | $450,000 | +6.0% | +5.4% | n/a | n/a |
| 53149 | Mukwonago | $523,700 | +7.4% | +5.9% | n/a | n/a |
| 53150 | Muskego | $529,000 | +6.2% | +4.9% | n/a | n/a |
| 53151 | New Berlin | $457,000 | +5.1% | +5.2% | $1,900 | 5.0% |
| 53153 | Genesee | $517,300 | +9.7% | +6.6% | n/a | n/a |
| 53154 | Oak Creek | $414,600 | +5.2% | +5.4% | $1,800 | 5.1% |
| 53172 | South Milwaukee | $307,300 | +3.7% | +4.3% | $1,100 | 4.5% |
| 53183 | Wales | $576,300 | +5.6% | +5.9% | n/a | n/a |
| 53186 | Waukesha | $370,200 | +6.4% | +6.0% | $1,300 | 4.3% |
| 53188 | Waukesha | $432,000 | +5.7% | +6.1% | $1,700 | 4.6% |
| 53189 | Waukesha | $514,400 | +7.6% | +5.8% | n/a | n/a |
| 53202 | Milwaukee | $363,100 | −2.0% | +2.7% | $1,900 | 6.3% |
| 53203 | Milwaukee | $380,600 | −4.4% | +2.8% | $1,500 | 4.7% |
| 53204 | Milwaukee | $164,300 | +5.0% | +8.3% | $1,500 | 10.8% |
| 53205 | Milwaukee | $160,000 | +2.8% | +5.6% | $1,500 | 11.4% |
| 53206 | Milwaukee | $91,400 | +14.5% | +9.8% | $1,000 | 13.3% |
| 53207 | Milwaukee | $309,600 | +2.5% | +5.7% | $1,700 | 6.5% |
| 53208 | Milwaukee | $239,800 | +2.5% | +4.7% | $1,300 | 6.7% |
| 53209 | Milwaukee | $166,600 | +3.9% | +4.3% | $1,400 | 10.3% |
| 53210 | Milwaukee | $169,400 | +0.6% | +2.6% | $1,200 | 8.6% |
| 53211 | Shorewood | $522,200 | +4.2% | +4.5% | $1,400 | 3.3% |
| 53212 | Milwaukee | $215,100 | +1.1% | +4.7% | $1,200 | 6.9% |
| 53213 | Wauwatosa | $437,000 | +5.2% | +6.0% | $1,800 | 4.8% |
| 53214 | West Allis | $263,100 | +4.1% | +6.3% | $1,400 | 6.5% |
| 53215 | Milwaukee | $224,700 | +2.4% | +6.6% | $1,100 | 6.0% |
| 53216 | Milwaukee | $176,600 | +3.5% | +5.8% | $1,300 | 8.5% |
| 53217 | Fox Point | $576,200 | +6.6% | +4.5% | $1,900 | 3.9% |
| 53218 | Milwaukee | $168,800 | +3.5% | +5.7% | $1,400 | 9.9% |
| 53219 | Milwaukee | $273,800 | +3.9% | +6.5% | $1,300 | 5.7% |
| 53220 | Greenfield | $302,000 | +5.3% | +5.8% | $1,500 | 5.8% |
| 53221 | Milwaukee | $293,000 | +3.8% | +6.2% | $1,300 | 5.2% |
| 53222 | Milwaukee | $268,100 | +4.8% | +6.0% | $1,500 | 6.5% |
| 53223 | Milwaukee | $233,200 | +4.7% | +7.1% | $1,700 | 8.7% |
| 53224 | Milwaukee | $247,000 | +4.0% | +6.5% | $1,400 | 7.0% |
| 53225 | Milwaukee | $240,100 | +3.5% | +5.5% | $1,200 | 6.1% |
| 53226 | Wauwatosa | $415,400 | +3.2% | +5.0% | $1,600 | 4.7% |
| 53227 | West Allis | $297,800 | +4.5% | +6.1% | $1,400 | 5.5% |
| 53228 | Greenfield | $362,700 | +4.6% | +5.2% | n/a | n/a |
| 53233 | Milwaukee | $191,600 | −3.0% | +5.4% | $1,100 | 6.8% |
| 53235 | Saint Francis | $286,100 | −0.4% | +2.8% | $1,400 | 6.1% |
Questions
Are home prices going up or down in Milwaukee?
Up. Home values across the Milwaukee-Waukesha metro are up 5.4% over the past twelve months, to a typical $420K, and 75 of its 79 ZIP codes are higher than a year ago.
What is the typical home value in Milwaukee?
$419,600 across the metro's 79 ZIP codes, as of August 2026. It ranges from $91,400 in ZIP 53206 to $767,900 in ZIP 53069.
What is the typical rent in Milwaukee?
About $1,500 a month, across the 44 ZIP codes with rent data, up 4.7% over the past year.
Which Milwaukee ZIP codes are rising fastest?
53206 (Milwaukee, +14.5%), 53002 (Addison, +10.7%), 53007 (Butler, +10.2%), over the past twelve months.
What is the forecast for Milwaukee home prices?
The forecast for the typical ZIP code in the metro is +3.6% over the next twelve months. Forecasts are estimates and change every month.
Other housing markets
- Chicago, IL
- Grand Rapids, MI
- Indianapolis, IN
- Detroit, MI
- Minneapolis, MN
- Dayton, OH
- Des Moines, IA
- St. Louis, MO
- All markets
Sources and method
- Source: CITIZEN, Lualdi Advisors' US housing market intelligence. Home values, rents and forecasts through August 2026; household incomes 2020 to 2024; migration for tax years 2022 to 2023; new homes permitted in 2025.
- Metro figures are medians across the ZIP codes in the metro, not a separate metro index. The two-year chart is the median ZIP value for each month. Grades and scores are CITIZEN's own.
- Updated monthly. Last updated 2026-10-14.
