Waunakee, WI—53597
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waunakee, WI
As of Oct '25, the median home price in Waunakee, WI is $582,000, with a year-over-year change of 3.1%. This indicates that home prices in Waunakee, WI are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $582,000 | 3.1% |
| Single Family | $608,000 | 3.4% |
| Condos | $335,000 | -0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $308,000 | 2.3% |
3 Bed | $483,000 | 3.4% |
4 Bed | $636,000 | 3.4% |
| 5 Bed | $812,000 | 2.4% |
% of Housing Stock
Rental Trends — Waunakee, WI
As of July '25, Rentcast reports the average rent in Waunakee, WI is $1,880, with a year-over-year rent change of 1.1%. Per bedroom, the median rent as of July '25 in Waunakee, WI is studios: $1,330, 1-bedrooms: $1,220, 2-bedrooms: $1,450, 3-bedrooms: $2,860, 4-bedrooms: $3,020. The most common rental property sizes in Waunakee, WI are 2-bedroom and 3-bedroom, accounting for 44.0% and 24.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,880 |
| Studio Rent | $1,330 | $1,330 |
| 1 Bed Rent | $1,200 | $1,220 |
| 2 Bed Rent | $1,400 | $1,450 |
| 3 Bed Rent | $2,750 | $2,860 |
| 4 Bed Rent | $2,900 | $3,020 |
% of Rental Stock
Property Listings — Waunakee, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in Waunakee, WI is 72. This is a increase of 29.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $800,000 | 12.0% |
Listing Count | 102 | 35.0% |
| Listings as % of Homes | 0.7% | 35.0% |
Days on Market | 72 | 29.0% |
Demographics — Waunakee, WI
As of the latest ACS Survey released in 2023, Waunakee, WI has a population of 20,700, which has increased by 8.9% over the past 5 years. Waunakee, WI is a popular place for families, as children make up 25.7% of the population. The area has a highly educated workforce, with 57.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,700 | 8.9% |
% Under 18 | 25.7% | -6.2% |
% Seniors | 18.4% | 14.3% |
% WFH | 18.7% | 149.3% |
% w/ College Degree | 57.5% | 13.4% |
As of the latest ACS Survey released in 2023, Waunakee, WI is a predominantly white area, with 88.5% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Waunakee, WI is hispanic, making up 4.9% of the population. Foreign-born residents account for 4.3% of the population in Waunakee, WI, and this percentage has decreased by 4.4% 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 | 88.5% | -4.1% |
% Black | 1.3% | 333.3% |
% Hispanic | 4.9% | 28.9% |
% Asian | 1.5% | -28.6% |
% Foreign Born | 4.3% | -4.4% |
Mortgage and Risk — Waunakee, WI
According to HUD data as of 2023, there were 723 mortgage originations in Waunakee, WI, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 44.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Waunakee, WI. Investor activity is low, as 1.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 723 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Waunakee, WI
As of 2024, the percent of homes in Waunakee, WI under the Section 8 program is 1.6%. 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 units appear to be good home sizes to consider for Section 8 housing in Waunakee, WI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 31 |
Total Units Section 8 | 31 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 76.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $1,200 | $1,240 |
| 2 Bedroom | $20 | $1,400 | $1,420 |
| 3 Bedroom | -$880 | $2,750 | $1,870 |
| 4 Bedroom | -$820 | $2,900 | $2,080 |
Affordability — Waunakee, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $582,000 |
| Median Household Income | $115,000 |