Milwaukee, WI Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Milwaukee Housing Market Information

With 590,157 people, 1,260 houses or apartments, and a median cost of homes of $124,242, house prices in Milwaukee are solidly below the national average.

Single-family detached homes are the single most common housing type in Milwaukee, accounting for 41.81% of the city's housing units. Other types of housing that are prevalent in Milwaukee include duplexes, homes converted to apartments or other small apartment buildings ( 29.81%), large apartment complexes or high rise apartments ( 21.89%), and a few row houses and other attached homes ( 6.00%).

People in Milwaukee primarily live in small (one, two or no bedroom) single-family detached homes. Milwaukee has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Milwaukee's housing was primarily built during this period, from the '40s through the '60s. A full 41.93% of the city's housing hails from this era. Other housing ages represented in Milwaukee include homes built before 1939 ( 38.97%) and housing constructed between 1970-1999 ( 14.97%). There's also some housing in Milwaukee built between 2000 and later ( 4.13%).

Vacant housing appears to be an issue in Milwaukee. Fully 10.57% of the housing stock is classified as vacant. Left unchecked, vacant Milwaukee homes and apartments can be a drag on the real estate market, holding Milwaukee real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Milwaukee Home Appreciation Rates

Milwaukee's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Milwaukee during the period has been just 1.17%, which is lower than 80% of US communities.

Over the last year, Milwaukee appreciation rates have trailed the rest of the nation. In the last twelve months, Milwaukee's appreciation rate has been 2.32%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Milwaukee were at 1.27%, which equates to an annual appreciation rate of 5.17%.

Relative to Wisconsin, our data show that Milwaukee's latest annual appreciation rate is lower than 80% of the other cities and towns in Wisconsin.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Milwaukee differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Milwaukee - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Milwaukee real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$124,242

Milwaukee, WI HOME PRICES

> $1,207,000
0.4%
0.4%
$905,001 - $1,207,000
0.4%
0.4%
$604,001 - $905,000
1.2%
1.2%
$483,001 - $604,000
0.9%
0.9%
$362,001 - $483,000
2.4%
2.4%
$242,001 - $362,000
8.1%
8.1%
$121,001 - $242,000
38.6%
38.6%
$60,001 - $121,000
34.8%
34.8%
$0 - $60,000
13.2%
13.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Very Low for WI

Value Relative To Nation

Number Of Homes And Apartments:
1,260

Milwaukee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
50.70% 2.00%
5
3
* 10 is highest

Rent & Ownership

 
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Average Market Rent:
$1,008 / per month

Homeownership Rate

Owners
41.6%
41.6%
Renters
58.4%
58.4%
Vacant
10.6%
10.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
4.1%
4.1%
1970 - 1999
15.0%
15.0%
1940 - 1969
41.9%
41.9%
1939 or Older
39.0%
39.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
41.8%
41.8%
Townhomes
6.0%
6.0%
Small Apt. Buildings
29.8%
29.8%
Apt. Complexes
21.9%
21.9%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.1%
3.1%
1 Bedroom
14.3%
14.3%
2 Bedrooms
35.6%
35.6%
3 Bedrooms
34.4%
34.4%
4 Bedrooms
10.3%
10.3%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES