Wisconsin Housing Market: Home Prices, Rent and Affordability
The typical Wisconsin home is worth $339,699, up 5.1% over the past year and up 31.1% over five years, 7.9% below the national $368,697 (latest release). That ranks #26 of 50 on price. A 20%-down mortgage runs $1,748 a month and takes about $95,433 of income; the median Wisconsin household earns $77,488, $17,945 short.
In Milwaukee, the state's largest metro, typical rent is $1,563 a month against a $2,001 principal-and-interest payment on the typical home, so renting is $438 a month cheaper before taxes, insurance and maintenance. The market is warm: 19.5% of listings cut their price (national 26.4%), homes go pending in 41 days (national 53), and for-sale inventory is up 4.2% from a year ago.
All housing figures are the latest published numbers for August; median household income is from the Census Bureau.
Wisconsin Housing by the Numbers
How much does a house cost in Wisconsin? The typical home is worth $339,699, the median sale price is $329,833 and the median list price $371,333. The six figures below describe the market this month, each with the national comparison.
- Typical home
- $339,699
- #26 priciest · national $369K
- Mortgage payment
- $1,748/mo
- P&I, 20% down · national $1,897
- Income needed
- $95K
- median earns $77K (+23%)
- Rent, Milwaukee
- $1,563/mo
- +5.0% in 1 yr · national $1,948
- Price cuts
- 19.5%
- of listings · national 26.4%
- Days to pending
- 41
- national 53 · 20,526 for sale (+4.2%)
How Have Wisconsin Home Prices Changed?
The typical Wisconsin home value every month since 2000, with the national typical home as a dashed line. Values rose 5.1% over the past year, are up 31.1% over five years, up 94.3% over ten, and up 178% since January 2000.
- Peak
- $339,699
- This month (all-time high)
- 10-year change
- +94.3%
- national +77.9%
- Median sale price
- $329,833
- list price $371,333
- Payment, 1-yr change
- +6.0%
- Rates and prices combined
Is It Cheaper to Rent or Buy in Wisconsin?
Two direct answers from the data. Rent versus buy sets typical asking rent in Milwaukee, the state's largest metro, against the mortgage payment on the typical home there, since rent indexes are published by metro rather than by state. The affordability gap is the income needed to buy the typical Wisconsin home minus what the median household actually earns.
Rent vs. buy · Milwaukee, WI
Renting is $438/month cheaper
The payment excludes property tax (1.59% of value in Wisconsin), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (31.1%), equity would narrow that gap over a long stay.
Affordability gap · #30 of 50
The median household is $17,945 short of the income needed
A $1,748 monthly payment takes 27.1% of the median Wisconsin household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%.
Full budget for your household →Is Wisconsin a Buyer's or a Seller's Market?
Market temperature is our label from three market signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. Wisconsin is warm: it slightly favors sellers: one of the three market signals points cooler than the national market.
Median sale price $329,833 against a median list price of $371,333, so the typical home closes 11.2% below asking.
Where the Wisconsin market is heading
Compared with a year ago, all three signals point looser, in buyers' favor: the share of listings with a price cut is up 1.8 points from a year ago to 19.5%, homes take 1 day longer to go pending than a year ago (41 now), and the number of homes for sale is up 4.2%. The typical home value rose 5.1% over the same period and is at an all-time high. We publish no forecasts: these are the current-month readings, not a prediction of where Wisconsin home prices go next.
Home Values and Rents in Wisconsin Cities
A city-level home value or rent is available for 20 of the Wisconsin cities we track. The most expensive is Brookfield ($528,294) and the cheapest Racine ($222,732). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Milwaukee | 566,973 | $227,629 | +3.2% | ||||
| Madison | 278,001 | $426,336 | +2.5% | ||||
| Green Bay | 106,253 | $285,361 | +5.4% | ||||
| Kenosha | 99,372 | $284,850 | +6.6% | ||||
| Racine | 77,633 | $222,732 | +5.9% | ||||
| Appleton | 75,023 | $305,667 | +5.6% | ||||
| Waukesha | 71,233 | $423,254 | +6.5% | ||||
| Eau Claire | 70,322 | $318,287 | +1.8% | ||||
| Oshkosh | 66,729 | $260,641 | +5.6% | ||||
| Janesville | 66,030 | $298,166 | +5.6% | ||||
| West Allis | 59,612 | $276,992 | +4.5% | ||||
| La Crosse | 51,356 | $287,924 | +4.4% | ||||
| Sheboygan | 49,645 | $267,169 | +4.4% | ||||
| Wauwatosa | 48,529 | $427,594 | +4.5% | ||||
| Fond du Lac | 44,494 | $264,914 | +4.6% | ||||
| Brookfield | 41,273 | $528,294 | +4.5% | ||||
| New Berlin | 40,270 | $455,414 | +5.3% | ||||
| Wausau | 39,996 | $250,229 | +8.4% | ||||
| Menomonee Falls | 39,539 | $439,642 | +5.3% | ||||
| Greenfield | 37,345 | $332,828 | +6.4% |
Home value and rent are city-level indexes; population and median household income are Census ACS. Cities without a published index are omitted.
All Wisconsin cities ranked →How Wisconsin Compares With Nearby States
The Midwest states closest to Wisconsin on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on Wisconsin
Wisconsin dashboard
Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in Wisconsin
Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to Wisconsin
IRS migration data: where new residents come from, where leavers go, and what both groups earn.
Wisconsin Housing Market FAQ
What is the average house price in Wisconsin?
$339,699 is the typical Wisconsin home value according to the latest release of the home value index, which tracks homes in the middle third of the market. The median sale price was $329,833 and the median list price $371,333. That makes Wisconsin the #26 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in Wisconsin?
No. The typical Wisconsin home value rose 5.1% over the past year and is at an all-time high. Over five years it is up 31.1% and over ten years up 94.3%. Nationally, values rose 1.2% over the year.
How have Wisconsin home prices changed over the past 1, 5 and 10 years?
+5.1% over one year, +31.1% over five years and +94.3% over ten years for the typical Wisconsin home value, per the latest release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical Wisconsin home is up 178%. The monthly chart above shows the full series against the national line.
Will the Wisconsin housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical Wisconsin home value is at an all-time high after it rose 5.1% over the past year; 19.5% of listings have cut their price (national 26.4%), homes go pending in 41 days (national 53), and inventory is up 4.2% from a year ago, per Zillow Research. The largest decline in the monthly value series for Wisconsin was 17.8% from May 2007 to March 2012, and values took 62 months to regain that peak.
Is it a good time to buy a house in Wisconsin?
The Wisconsin market is warm right now, which means it slightly favors sellers: one of the three market signals points cooler than the national market. 19.5% of listings cut their price (national 26.4%), homes go pending in 41 days (national 53), and for-sale inventory is up 4.2% from a year ago. Affordability is the constraint: buying the typical home takes $95,433 of income, $17,945 more than the median household earns. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is Wisconsin a buyer's or seller's market?
Wisconsin leans toward sellers. Fewer listings are cutting prices than the national average (19.5% vs. 26.4%), homes take 41 days to go pending (national 53), and the number of homes for sale is up 4.2% from a year ago at 21K listings. One of those three signals points toward buyers.
What is the average rent in Wisconsin?
In Milwaukee, Wisconsin's largest metro, the typical asking rent is $1,563 a month, up 5.0% over the past year and up 29.6% over five years, per the rent index. The national typical rent is $1,948. Among Wisconsin cities we track, rents range from $961 to $2,237 a month.
Is it cheaper to rent or buy in Wisconsin?
Renting is cheaper month to month in Milwaukee, Wisconsin's largest metro. Typical rent is $1,563 and the principal-and-interest payment on the typical home with 20% down is $2,001, a difference of $438 a month in favor of renting. The payment excludes property tax (1.59% of value in Wisconsin), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in Wisconsin?
About $95,433 a year, using the standard assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median Wisconsin household earns $77,488, so the typical household is $17,945 short. That is the #30 smallest affordability gap of the 50 states. The monthly payment of $1,748 equals 27.1% of the median household's income.
Where are homes cheapest and most expensive in Wisconsin?
Among the Wisconsin cities we track with a published home value, the most expensive typical home is in Brookfield ($528,294) and the cheapest in Racine ($222,732). Also at the top: New Berlin ($455,414), Menomonee Falls ($439,642), and Wauwatosa ($427,594). The city table above lists every tracked Wisconsin city with its value, one-year change and rent.
How does Wisconsin compare with nearby states?
In the Midwest, the closest comparisons on price are Minnesota ($350,752, up 2.5% in a year), South Dakota ($321,574, up 2.5% in a year), and Illinois ($297,573, up 5.3% in a year). Wisconsin's typical home is $339,699, up 5.1%. On affordability, Wisconsin ranks #30 of 50 versus Minnesota at #23, South Dakota at #25, and Illinois at #20.
How current is the Wisconsin housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →