Old North Milwaukee, Milwaukee, WI—53209
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Old North Milwaukee, Milwaukee, WI
As of Oct '25, the median home price in Old North Milwaukee, Milwaukee, WI is $158,000, with a year-over-year change of 3.0%. This indicates that home prices in Old North Milwaukee, Milwaukee, WI are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $158,000 | 3.0% |
| Single Family | $162,000 | 3.2% |
| Condos | $134,000 | 6.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $90,000 | 7.1% |
2 Bed | $119,000 | 1.7% |
3 Bed | $153,000 | 2.7% |
4 Bed | $165,000 | 2.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Old North Milwaukee, Milwaukee, WI
As of July '25, Rentcast reports the average rent in Old North Milwaukee, Milwaukee, WI is $1,220, with a year-over-year rent change of -3.9%. Per bedroom, the median rent as of July '25 in Old North Milwaukee, Milwaukee, WI is studios: $786, 1-bedrooms: $1,030, 2-bedrooms: $1,110, 3-bedrooms: $1,520, 4-bedrooms: $1,580. The most common rental property sizes in Old North Milwaukee, Milwaukee, WI are 2-bedroom and 3-bedroom, accounting for 44.8% and 24.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,220 |
| Studio Rent | $786 | $786 |
| 1 Bed Rent | $875 | $1,030 |
| 2 Bed Rent | $1,150 | $1,110 |
| 3 Bed Rent | $1,500 | $1,520 |
| 4 Bed Rent | $1,550 | $1,580 |
% of Rental Stock
Property Listings — Old North Milwaukee, Milwaukee, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in Old North Milwaukee, Milwaukee, WI is 35. This is a increase of 5.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $166,000 | -2.0% |
Listing Count | 150 | 11.0% |
| Listings as % of Homes | 0.3% | 11.0% |
Days on Market | 35 | 5.0% |
Demographics — Old North Milwaukee, Milwaukee, WI
As of the latest ACS Survey released in 2023, Old North Milwaukee, Milwaukee, WI has a population of 45,000, which has decreased by -2.3% over the past 5 years. Old North Milwaukee, Milwaukee, WI is a popular place for families, as children make up 26.6% of the population. The area has a moderately educated workforce, with 25.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,000 | -2.3% |
% Under 18 | 26.6% | -5.7% |
% Seniors | 16.8% | 22.6% |
% WFH | 13.2% | 180.9% |
% w/ College Degree | 25.3% | 14.0% |
As of the latest ACS Survey released in 2023, Old North Milwaukee, Milwaukee, WI is a predominantly black area, with 67.2% of the population identifying as black. The black population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Old North Milwaukee, Milwaukee, WI is white, making up 21.9% of the population. Foreign-born residents account for 3.2% of the population in Old North Milwaukee, Milwaukee, WI, and this percentage has decreased by 39.6% 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 | 21.9% | -4.4% |
% Black | 67.2% | -1.5% |
% Hispanic | 5.5% | 31.0% |
% Asian | 2.1% | 40.0% |
% Foreign Born | 3.2% | -39.6% |
Mortgage and Risk — Old North Milwaukee, Milwaukee, WI
According to HUD data as of 2023, there were 617 mortgage originations in Old North Milwaukee, Milwaukee, WI, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Old North Milwaukee, Milwaukee, WI. Investor activity is low, as 7.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 617 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Old North Milwaukee, Milwaukee, WI
As of 2024, the percent of homes in Old North Milwaukee, Milwaukee, WI under the Section 8 program is 17.6%. 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 Old North Milwaukee, Milwaukee, 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 | 2,018 |
Total Units Section 8 | 1,971 |
% Rentals under Section 8 | 17.6% |
% Occupied Section 8 | 87.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $65 | $875 | $940 |
| 2 Bedroom | -$30 | $1,150 | $1,120 |
| 3 Bedroom | -$110 | $1,500 | $1,390 |
| 4 Bedroom | -$30 | $1,550 | $1,520 |
Affordability — Old North Milwaukee, Milwaukee, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $158,000 |
| Median Household Income | $45,300 |