Riverwest, Milwaukee, WI—53212
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Riverwest, Milwaukee, WI
As of Oct '25, the median home price in Riverwest, Milwaukee, WI is $208,000, with a year-over-year change of 6.9%. This indicates that home prices in Riverwest, Milwaukee, WI are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $208,000 | 6.9% |
| Single Family | $192,000 | 9.7% |
| Condos | $303,000 | 4.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $214,000 | 1.9% |
2 Bed | $218,000 | 2.8% |
3 Bed | $215,000 | 5.9% |
4 Bed | $182,000 | 8.3% |
| 5 Bed | $180,000 | 9.1% |
% of Housing Stock
Rental Trends — Riverwest, Milwaukee, WI
As of July '25, Rentcast reports the average rent in Riverwest, Milwaukee, WI is $1,310, with a year-over-year rent change of 7.4%. Per bedroom, the median rent as of July '25 in Riverwest, Milwaukee, WI is studios: $810, 1-bedrooms: $1,030, 2-bedrooms: $1,170, 3-bedrooms: $1,640, 4-bedrooms: $2,250. The most common rental property sizes in Riverwest, Milwaukee, WI are 2-bedroom and 1-bedroom, accounting for 42.2% and 28.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,310 |
| Studio Rent | $710 | $810 |
| 1 Bed Rent | $895 | $1,030 |
| 2 Bed Rent | $1,180 | $1,170 |
| 3 Bed Rent | $1,500 | $1,640 |
| 4 Bed Rent | $1,350 | $2,250 |
% of Rental Stock
Property Listings — Riverwest, Milwaukee, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in Riverwest, Milwaukee, WI is 44. This is a increase of 17.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | 19.0% |
Listing Count | 58 | 19.0% |
| Listings as % of Homes | 0.2% | 19.0% |
Days on Market | 44 | 17.0% |
Demographics — Riverwest, Milwaukee, WI
As of the latest ACS Survey released in 2023, Riverwest, Milwaukee, WI has a population of 29,100, which has decreased by -5.9% over the past 5 years. Riverwest, Milwaukee, WI is a moderately popular place for families, as children make up 23.9% of the population. The area has a moderately educated workforce, with 37.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,100 | -5.9% |
% Under 18 | 23.9% | 0.0% |
% Seniors | 10.2% | 43.7% |
% WFH | 13.0% | 195.5% |
% w/ College Degree | 37.3% | 16.9% |
As of the latest ACS Survey released in 2023, Riverwest, Milwaukee, WI is a predominantly black area, with 49.1% of the population identifying as black. The black population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Riverwest, Milwaukee, WI is white, making up 34.7% of the population. Foreign-born residents account for 2.4% of the population in Riverwest, Milwaukee, WI, and this percentage has decreased by 33.3% 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 | 34.7% | -1.4% |
% Black | 49.1% | -3.3% |
% Hispanic | 11.6% | 24.7% |
% Asian | 1.0% | 0.0% |
% Foreign Born | 2.4% | -33.3% |
Mortgage and Risk — Riverwest, Milwaukee, WI
According to HUD data as of 2023, there were 348 mortgage originations in Riverwest, Milwaukee, WI, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Riverwest, Milwaukee, WI. Investor activity is low, as 9.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 348 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 9.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Riverwest, Milwaukee, WI
As of 2024, the percent of homes in Riverwest, Milwaukee, WI under the Section 8 program is 13.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Riverwest, Milwaukee, WI, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,676 |
Total Units Section 8 | 1,268 |
% Rentals under Section 8 | 13.8% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $105 | $895 | $1,000 |
| 2 Bedroom | $10 | $1,180 | $1,190 |
| 3 Bedroom | -$20 | $1,500 | $1,480 |
| 4 Bedroom | $260 | $1,350 | $1,610 |
Affordability — Riverwest, Milwaukee, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $208,000 |
| Median Household Income | $42,700 |