Waukesha, WI—53186
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 $347,000, with a year-over-year change of 3.9%. This indicates that home prices in Waukesha, WI are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $347,000 | 3.9% |
| Single Family | $360,000 | 4.3% |
| Condos | $257,000 | 4.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $175,000 | 4.8% |
2 Bed | $261,000 | 4.0% |
3 Bed | $347,000 | 4.5% |
4 Bed | $397,000 | 4.2% |
| 5 Bed | $432,000 | 4.1% |
% of Housing Stock
Rental Trends — Waukesha, WI
As of July '25, Rentcast reports the average rent in Waukesha, WI is $1,480, with a year-over-year rent change of 13.8%. Per bedroom, the median rent as of July '25 in Waukesha, WI is studios: $1,270, 1-bedrooms: $1,120, 2-bedrooms: $1,470, 3-bedrooms: $1,860, 4-bedrooms: $2,950. The most common rental property sizes in Waukesha, WI are 2-bedroom and 1-bedroom, accounting for 52.5% and 28.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,480 |
| Studio Rent | $1,050 | $1,270 |
| 1 Bed Rent | $995 | $1,120 |
| 2 Bed Rent | $1,300 | $1,470 |
| 3 Bed Rent | $1,750 | $1,860 |
| 4 Bed Rent | $2,800 | $2,950 |
% 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 23. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $349,000 | -1.0% |
Listing Count | 48 | -22.0% |
| Listings as % of Homes | 0.1% | -22.0% |
Days on Market | 23 | -7.0% |
Demographics — Waukesha, WI
As of the latest ACS Survey released in 2023, Waukesha, WI has a population of 33,300, which has remained stable by -0.1% over the past 5 years. Waukesha, WI is a moderately popular place for families, as children make up 16.9% of the population. The area has a moderately educated workforce, with 39.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,300 | -0.1% |
% Under 18 | 16.9% | -8.6% |
% Seniors | 17.3% | 13.8% |
% WFH | 11.0% | 266.7% |
% w/ College Degree | 39.1% | 1.6% |
As of the latest ACS Survey released in 2023, Waukesha, WI is a predominantly white area, with 79.9% of the population identifying as white. The white population has grown by 3.0% in the last 5 years. The second most common race or ethnicity in Waukesha, WI is hispanic, making up 13.8% of the population. Foreign-born residents account for 6.5% of the population in Waukesha, WI, and this percentage has decreased by 27.8% 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 | 79.9% | 3.0% |
% Black | 1.5% | -58.3% |
% Hispanic | 13.8% | 16.9% |
% Asian | 2.1% | -53.3% |
% Foreign Born | 6.5% | -27.8% |
Mortgage and Risk — Waukesha, WI
According to HUD data as of 2023, there were 568 mortgage originations in Waukesha, WI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Waukesha, WI. Investor activity is low, as 2.0% 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 | 568 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Waukesha, WI
As of 2024, the percent of homes in Waukesha, WI under the Section 8 program is 7.8%. 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 units appear to be good home sizes to consider for Section 8 housing in Waukesha, WI, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 664 |
Total Units Section 8 | 502 |
% Rentals under Section 8 | 7.8% |
% Occupied Section 8 | 78.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $115 | $995 | $1,110 |
| 2 Bedroom | $20 | $1,300 | $1,320 |
| 3 Bedroom | -$110 | $1,750 | $1,640 |
| 4 Bedroom | -$1,010 | $2,800 | $1,790 |
Affordability — Waukesha, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $347,000 |
| Median Household Income | $74,600 |