Milwaukee housing market
Typical home value
$384K
▲ 5.3% 1 yr
Typical rent
$1,549/mo
▲ 5.1% 1 yr
12-month forecast
+3.5%
#84 of 546 metros
Gross rent yield
4.8%
#429 of 546 · U.S. 6.3%
Days to pending
36 days
▲ +4 days 1 yr
Listings with a price cut
21%
▲ +1.3 pts 1 yr
Key takeaways
- 1The typical home is worth $384,496, up 5.3% in a year and up 31% over five years.
- 2Zillow forecasts home values rising 3.5% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,549/mo (+5.1% YoY), a 4.8% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $2,113/mo in principal and interest, $564 more than renting.
- 5Homes go under contract in 36 days (+4 days vs last year); 21% of listings have had a price cut.
Market temperature
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 45/100, #203 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Milwaukee compares
| Measure | Milwaukee | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +5.3% | +1.2% | #55 |
| Home value, 5-yr change | +31.4% | +19.7% | |
| 12-month forecast | +3.5% | +1.1% | #84 |
| Rent, 1-yr change | +5.1% | +2.7% | #112 |
| Gross rent yield | 4.8% | 6.3% | #429 |
| Price-to-rent ratio | 20.7 | 15.8 | |
| Mortgage P&I on typical home | $2,113 | $2,012 | |
| Income needed to buy | $112,943 | $100,902 | |
| Days to pending | 36 | 56 |
Cities in the Milwaukee metro
5 cities with home value and rent data.
| Milwaukee | $223K | ▲ 3.0% | $1,443 | ▲ 4.7% | 7.8% |
| Waukesha | $420K | ▲ 6.4% | $1,475 | ▲ 5.3% | 4.2% |
| West Allis | $272K | ▲ 4.6% | $1,445 | ▲ 6.0% | 6.4% |
| Wauwatosa | $420K | ▲ 4.4% | $1,680 | ▲ 4.3% | 4.8% |
| South Milwaukee | $304K | ▲ 3.9% | $1,148 | ▲ 9.9% | 4.5% |
Run the numbers
Rental property calculator
Cash flow on a typical Milwaukee rental ($384K, $1,549/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Milwaukee home.
Rent vs buy
Is it cheaper to rent or buy in Milwaukee?
Other Wisconsin metros
Madison, WI
$446K home$1,780 rent4.8% yield
▲ 3.1% 1 yr
Green Bay, WI
$346K home$1,119 rent3.9% yield
▲ 5.4% 1 yr
Appleton, WI
$349K home$1,197 rent4.1% yield
▲ 5.2% 1 yr
Racine, WI
$315K home$1,460 rent5.6% yield
▲ 5.8% 1 yr
Oshkosh, WI
$304K home$1,278 rent5.0% yield
▲ 4.6% 1 yr
Eau Claire, WI
$322K home$1,147 rent4.3% yield
▲ 3.1% 1 yr
Wausau, WI
$271K home$960 rent4.3% yield
▲ 8.8% 1 yr
Janesville, WI
$297K home$1,292 rent5.2% yield
▲ 6.2% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.