Waukesha, WI—53189
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 $483,000, with a year-over-year change of 4.8%. This indicates that home prices in Waukesha, WI are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $483,000 | 4.8% |
| Single Family | $497,000 | 5.3% |
| Condos | $333,000 | 1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $333,000 | 4.1% |
3 Bed | $440,000 | 4.0% |
4 Bed | $536,000 | 4.1% |
| 5 Bed | $595,000 | 3.7% |
% of Housing Stock
Rental Trends — Waukesha, WI
As of July '25, Rentcast reports the average rent in Waukesha, WI is $1,740, with a year-over-year rent change of 38.1%. Per bedroom, the median rent as of July '25 in Waukesha, WI is studios: $1,400, 1-bedrooms: $1,080, 2-bedrooms: $1,560, 3-bedrooms: $2,680, 4-bedrooms: $1,900. The most common rental property sizes in Waukesha, WI are 2-bedroom and 3-bedroom, accounting for 54.4% and 21.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,740 |
| Studio Rent | $1,400 | $1,400 |
| 1 Bed Rent | $995 | $1,080 |
| 2 Bed Rent | $1,600 | $1,560 |
| 3 Bed Rent | $2,500 | $2,680 |
| 4 Bed Rent | $1,900 | $1,900 |
% 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 32. This is a increase of 13.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $576,000 | 15.0% |
Listing Count | 91 | 12.0% |
| Listings as % of Homes | 0.4% | 12.0% |
Days on Market | 32 | 13.0% |
Demographics — Waukesha, WI
As of the latest ACS Survey released in 2023, Waukesha, WI has a population of 26,600, which has remained stable by -0.3% over the past 5 years. Waukesha, WI is a moderately popular place for families, as children make up 20.6% of the population. The area has a highly educated workforce, with 45.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,600 | -0.3% |
% Under 18 | 20.6% | -16.6% |
% Seniors | 15.9% | 16.9% |
% WFH | 16.3% | 232.7% |
% w/ College Degree | 45.4% | 13.2% |
As of the latest ACS Survey released in 2023, Waukesha, WI is a predominantly white area, with 84.0% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Waukesha, WI is hispanic, making up 7.6% of the population. Foreign-born residents account for 5.4% of the population in Waukesha, WI, and this percentage has increased by 63.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.0% | -3.0% |
% Black | 1.6% | 0.0% |
% Hispanic | 7.6% | -6.2% |
% Asian | 2.4% | 26.3% |
% Foreign Born | 5.4% | 63.6% |
Mortgage and Risk — Waukesha, WI
According to HUD data as of 2023, there were 759 mortgage originations in Waukesha, WI, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Waukesha, WI. Investor activity is low, as 0.0% 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 | 759 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Waukesha, WI
As of 2024, the percent of homes in Waukesha, WI under the Section 8 program is 16.4%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Waukesha, WI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 365 |
Total Units Section 8 | 306 |
% Rentals under Section 8 | 16.4% |
% Occupied Section 8 | 81.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $185 | $995 | $1,180 |
| 2 Bedroom | -$200 | $1,600 | $1,400 |
| 3 Bedroom | -$760 | $2,500 | $1,740 |
| 4 Bedroom | -$10 | $1,900 | $1,890 |
Affordability — Waukesha, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $483,000 |
| Median Household Income | $115,000 |