Home Values in Milwaukee, Wisconsin — 2026 Market Report
Updated March 2026 | Buyer's Market | +3.8% YoY
The median home value in Milwaukee, Wisconsin is $175,000 as of March 2026, which is below the national median of $400,000. Home values in Milwaukee have increased by 3.8% over the past year and 20.5% over the last five years. With a population of 577,222 and a median household income of $43,125, the price-to-income ratio stands at 4.1x, making Milwaukee affordable for the average household.
Milwaukee Housing Market Conditions
| Metric | Milwaukee | National Avg |
|---|---|---|
| Median Home Value | $175,000 | $400,000 |
| YoY Appreciation | +3.8% | +3.8% |
| 5-Year Appreciation | +20.5% | +22.4% |
| Price per Sq Ft | $66 | $222 |
| Days on Market | 48 days | 45 days |
| Months of Supply | 5.4 | 3.5 |
| List-to-Sale Ratio | 96.7% | 98.5% |
| Monthly Homes Sold | 278 | — |
| Foreclosure Rate | 0.78% | 0.3% |
Home Value Trends in Milwaukee
A homeowner who purchased at the median price of $145,228 five years ago in Milwaukee would have gained approximately $29,772 in equity, representing a 20.5% return on investment. Over the past year alone, the typical homeowner gained $6,407 in home equity.
Affordability in Milwaukee, WI
With a median household income of $43,125 and a median home price of $175,000, the price-to-income ratio in Milwaukee is 4.1x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,015 compared to estimated monthly ownership costs of $1,088 gives a rent-vs-buy ratio of 1.07. In Milwaukee, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Milwaukee
The effective property tax rate in Wisconsin is 1.76%. On a home valued at $175,000, the estimated annual property tax bill is $3,080, or approximately $257/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Milwaukee is 89.4 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Milwaukee, WI?
The median home value in Milwaukee, Wisconsin is $175,000 as of March 2026. Home values have changed +3.8% over the past year, with a 5-year appreciation of 20.5%.
Is Milwaukee a buyer's or seller's market?
Milwaukee is currently a buyer's market with 5.4 months of housing supply. Homes spend an average of 48 days on market, and the list-to-sale price ratio is 96.7%. Higher inventory gives buyers more negotiating power.
Are home values going up in Milwaukee?
Yes, home values in Milwaukee have increased by 3.8% over the past year. The 5-year appreciation rate is 20.5%, meaning a home worth $145,228 five years ago is now worth $175,000.
Is it better to rent or buy in Milwaukee?
The average monthly rent in Milwaukee is $1,015, while estimated monthly homeownership costs are approximately $1,088. The price-to-rent ratio is 14.4. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Wisconsin Cities
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Disclaimer: Home value data for Milwaukee, Wisconsin is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.