What is the typical home value in Milwaukee - WI?

The typical home in Milwaukee - WI, WI is worth $388,845 as of the most recent Zillow Home Value Index reading. Year over year the value has changed by +5.4%.

How long do homes stay on the market in Milwaukee - WI?

The median days to pending (time on market before a sale) in Milwaukee - WI is currently 20 days. Shorter days on market indicate a seller's market; longer days indicate more buyer leverage.

Are sellers cutting prices in Milwaukee - WI?

18.1% of active listings in Milwaukee - WI have had a price reduction. This is a signal of softening seller expectations relative to buyer demand.

Is it cheaper to rent or buy in Milwaukee - WI?

The price-to-rent ratio in Milwaukee - WI is 20.7x (typical home value divided by a year of typical rent), which puts it in renting territory on the Rent vs Buy Index. Typical rent is $1,563 a month versus a principal-and-interest mortgage payment of about $2,154 on the typical home at 7.4% with 20% down.

What income do you need to buy a home in Milwaukee - WI?

About $113,100 a year in household income, assuming 20% down ($77,769), a 30-year fixed mortgage at 7.4%, property tax and insurance, and a 28% payment-to-income cap. The monthly payment works out to about $2,640.

Is Milwaukee - WI a buyer's or seller's market?

Based on days-on-market, price-cut share, and year-over-year appreciation, Milwaukee - WI is currently a balanced market. Buyers should watch days-on-market and price-cut trends monthly.

WI · Metro #41

Milwaukee - WI housing market

The Milwaukee metro has a typical home value of $388,845, up 5.4% from a year ago. Homes sell in 20 days on average, a balanced market. Data from Zillow Research, updated monthly.

Typical home value

$388,845

+5.4% vs. year ago

Median sale price

$328,327

+4.6% YoY

Median list price

$374,933

Sale-to-list ratio

102.1%

Selling above ask

Days on market

20d

Listings w/ price cut

18.1%

New listings / mo

1,695

+9.1% YoY

Homes for sale

4,507

+8.4% YoY

Typical rent

$1,563/mo

+5.2% YoY

Income needed to buy

$113,100

$2,640/mo · #127 of 195

Rent vs buy

20.7x

Renting territory · #42 of 195

October 2026 report · Zillow data through August 2026

Milwaukee housing market, October 2026

The typical Milwaukee home is worth $388,845 as of August 2026, up 0.4% from the prior month, up 0.8% over three months, and up 5.4% from a year ago. Over the past two years values have ranged from $358,417 to $388,845.

Homes are going pending in about 20 days, slower than the 13 days seen three months earlier. There are roughly 4,507 homes for sale, 8% more than a year ago. 18.1% of listings have taken a price cut (up from 13.6% three months ago).

Typical rent is $1,562 a month, up 5.2% year over year, which puts the price-to-rent ratio at 20.7.

At this week's 7.40% mortgage rate with 20% down ($77,769), the typical Milwaukee home costs about $2,640 a month including tax and insurance, which needs a household income of roughly $113,100 to stay under a 28% payment-to-income ratio.

Typical home value, 24 months

Days to pending, 24 months

Homes for sale, 24 months

Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →

Context

How to read this data

The typical home value ($388,845) is the Zillow Home Value Index for the Milwaukee - WI metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.

Prices are up 5.4% over the past year. In Milwaukee - WI, that means a home worth $368,923 last year is now worth roughly $388,845.

The median sale price, what homes actually close for, is $328,327. Homes are selling at 102.1% of list price, meaning buyers are typically paying at or above asking.

Homes listed in Milwaukee - WI sit on the market for roughly 20 days before going pending. Shorter = seller's market; longer = buyer's market.

About 18.1% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.

Roughly 1,695 new listings hit the market each month in Milwaukee - WI. There are currently 4,507 homes for sale, up 8.4% from a year ago.

The typical monthly rent in Milwaukee - WI is $1,563, up 5.2% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 20.7x, renting territory (#42 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $2,154 a month in principal and interest, $591 more than renting before taxes, insurance and upkeep. The two break even at a 4.43% rate.