Waukesha, WI—53188
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waukesha, WI
As of Oct '25, the median home price in Waukesha, WI is $410,000, with a year-over-year change of 3.5%. This indicates that home prices in Waukesha, WI are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $410,000 | 3.5% |
| Single Family | $419,000 | 3.7% |
| Condos | $327,000 | 2.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $185,000 | 5.7% |
2 Bed | $296,000 | 2.8% |
3 Bed | $381,000 | 3.5% |
4 Bed | $473,000 | 3.7% |
| 5 Bed | $507,000 | 1.8% |
% of Housing Stock
Rental Trends — Waukesha, WI
As of July '25, Rentcast reports the average rent in Waukesha, WI is $1,760, with a year-over-year rent change of 0.6%. Per bedroom, the median rent as of July '25 in Waukesha, WI is studios: $1,390, 1-bedrooms: $1,150, 2-bedrooms: $1,540, 3-bedrooms: $2,320. The most common rental property sizes in Waukesha, WI are 1-bedroom and 2-bedroom, accounting for 37.9% and 37.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,760 |
| Studio Rent | $1,390 | $1,390 |
| 1 Bed Rent | $1,120 | $1,150 |
| 2 Bed Rent | $1,440 | $1,540 |
| 3 Bed Rent | $2,200 | $2,320 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Waukesha, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in Waukesha, WI is 37. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $415,000 | -13.0% |
Listing Count | 74 | -19.0% |
| Listings as % of Homes | 0.4% | -19.0% |
Days on Market | 37 | -1.0% |
Demographics — Waukesha, WI
As of the latest ACS Survey released in 2023, Waukesha, WI has a population of 34,300, which has decreased by -4.2% over the past 5 years. Waukesha, WI is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 43.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,300 | -4.2% |
% Under 18 | 21.6% | 4.3% |
% Seniors | 16.9% | 5.0% |
% WFH | 12.3% | 272.7% |
% w/ College Degree | 43.1% | 18.7% |
As of the latest ACS Survey released in 2023, Waukesha, WI is a predominantly white area, with 81.1% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Waukesha, WI is hispanic, making up 8.4% of the population. Foreign-born residents account for 5.1% of the population in Waukesha, WI, and this percentage has decreased by 3.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.1% | -2.5% |
% Black | 4.3% | 38.7% |
% Hispanic | 8.4% | -15.2% |
% Asian | 2.3% | -8.0% |
% Foreign Born | 5.1% | -3.8% |
Mortgage and Risk — Waukesha, WI
According to HUD data as of 2023, there were 883 mortgage originations in Waukesha, WI, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Waukesha, WI. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 883 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Waukesha, WI
Waukesha, WI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 622 |
Total Units Section 8 | 526 |
% Rentals under Section 8 | 10.4% |
% Occupied Section 8 | 79.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $1,120 | $1,230 |
| 2 Bedroom | $30 | $1,440 | $1,470 |
| 3 Bedroom | -$380 | $2,200 | $1,820 |
| 4 Bedroom | N/A | N/A | $1,990 |
Affordability — Waukesha, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $410,000 |
| Median Household Income | $88,700 |