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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.



Oak Creek, 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

Oak Creek, WI Housing Market Trends

With a population of 36,087, 15,346 total housing units (homes and apartments), and a median house value of $376,596, Oak Creek real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Oak Creek, accounting for 52.80% of the city's housing units. Other types of housing that are prevalent in Oak Creek include large apartment complexes or high rise apartments ( 33.51%), duplexes, homes converted to apartments or other small apartment buildings ( 6.80%), and a few row houses and other attached homes ( 4.56%).

The most prevalent building size and type in Oak Creek are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.78% owning and 41.22% renting.

There is a lot of housing in Oak Creek built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Oak Creek built between 2000 and later ( 29.88%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.28%). There's also some housing in Oak Creek built before 1939 ( 3.43%).

Oak Creek Home Appreciation Rates

Real estate appreciation rates in Oak Creek's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.73% during the period.

Appreciation rates are so strong in Oak Creek that despite a nationwide downturn in the housing market, Oak Creek real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Oak Creek appreciation rates continue to be some of the highest in America, at 8.05%, which is higher than appreciation rates in 87.12% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Oak Creek. Oak Creek appreciation rates in the latest quarter were at 0.76%, which equates to an annual appreciation rate of 3.06%.

Relative to Wisconsin, our data show that Oak Creek's latest annual appreciation rate is higher than 70% 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 Oak Creek differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Oak Creek - 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 Oak Creek real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$376,596

Oak Creek, WI Home Prices
> $1,294,000
$970,001 - $1,294,000
$646,001 - $970,000
$517,001 - $646,000
$388,001 - $517,000
$259,001 - $388,000
$129,001 - $259,000
$65,001 - $129,000
$0 - $65,000
0.4%
0.4%
0.0%
0.0%
2.2%
2.2%
11.1%
11.1%
29.4%
29.4%
39.3%
39.3%
12.6%
12.6%
1.1%
1.1%
3.9%
3.9%
0% 100.0%
% of Homes
High

for Wisconsin

High

for nation

Number of Homes And Apartments:

15,346

Oak Creek Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,975 / per month

Homeownership Rate

Owners
Renters
58.8%
58.8%
41.2%
41.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.0%
2.0%
98.0%
98.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
29.9%
29.9%
44.4%
44.4%
22.3%
22.3%
3.4%
3.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
52.8%
52.8%
4.6%
4.6%
6.8%
6.8%
33.5%
33.5%
2.1%
2.1%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.6%
1.6%
16.5%
16.5%
27.4%
27.4%
39.9%
39.9%
12.4%
12.4%
2.1%
2.1%
0% 100.0%
% of Homes