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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Monona, WI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Monona, WI Housing Market Trends

With a population of 8,585, 4,147 total housing units (homes and apartments), and a median house value of $505,601, Monona real estate is some of the most expensive in Wisconsin, although Monona home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Monona, accounting for 59.29% of the city's housing units. Other types of housing that are prevalent in Monona include large apartment complexes or high rise apartments ( 35.37%), duplexes, homes converted to apartments or other small apartment buildings ( 4.99%).

People in Monona primarily live in small (one, two or no bedroom) single-family detached homes. Monona 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. Monona's housing was primarily built during this period, from the '40s through the '60s. A full 59.32% of the city's housing hails from this era. Other housing ages represented in Monona include homes built between 2000 and later ( 16.81%) and housing constructed between 1970-1999 ( 16.27%). There's also some housing in Monona built before 1939 ( 7.61%).

Monona Home Appreciation Rates

Appreciation rates for homes in Monona have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.57%, which ranks in the top 30% nationwide. This equates to an annual average Monona house appreciation rate of 7.58%.

Appreciation rates are so strong in Monona that despite a nationwide downturn in the housing market, Monona real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monona appreciation rates continue to be some of the highest in America, at 7.23%, which is higher than appreciation rates in 76.35% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monona. Monona appreciation rates in the latest quarter were at 0.57%, which equates to an annual appreciation rate of 2.31%.

Relative to Wisconsin, our data show that Monona's latest annual appreciation rate is lower than 90% of the other cities and towns in Wisconsin.

Average Home Values

Median Home Value

$505,601

Monona, WI Home Prices
> $1,369,000
$1,027,001 - $1,369,000
$685,001 - $1,027,000
$548,001 - $685,000
$411,001 - $548,000
$274,001 - $411,000
$137,001 - $274,000
$69,001 - $137,000
$0 - $69,000
3.5%
3.5%
3.1%
3.1%
14.4%
14.4%
16.9%
16.9%
31.8%
31.8%
27.4%
27.4%
1.9%
1.9%
0.3%
0.3%
0.8%
0.8%
0% 100.0%
% of Homes
Very High

for Wisconsin

Very High

for nation

Number of Homes And Apartments:

4,147

Monona Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,499 / per month

Homeownership Rate

Owners
Renters
55.4%
55.4%
44.6%
44.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.1%
4.1%
95.9%
95.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.8%
16.8%
16.3%
16.3%
59.3%
59.3%
7.6%
7.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
59.3%
59.3%
0.3%
0.3%
5.0%
5.0%
35.4%
35.4%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.3%
4.3%
19.6%
19.6%
28.0%
28.0%
30.0%
30.0%
12.7%
12.7%
5.4%
5.4%
0% 100.0%
% of Homes