Market Overview
Home Prices in Elm Grove, WI
The median home value in Elm Grove, WI is $707,635 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.2% compared to a year ago and up 4.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Elm Grove are priced73% above average. Elm Grove is part of the Milwaukee-Waukesha, WI metro area.
Over the past five years, Elm Grove home values have risen by approximately33.8%, reflecting strong long-term appreciation in this market.
Price History
Elm Grove Home Price Trend
City Comparison
Elm Grove vs. National Median
At $707,635, homes in Elm Grove cost 73% above the national median of $410,000. Buyers in Elm Grove should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Elm Grove?
20% Down Payment
$141,527
on $707,635
Monthly P&I
$3,691/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,688/mo
incl. taxes & insurance
Income Needed
$187,520
gross annual (30% rule)
10% Down Option
$70,764
+ PMI applies
Loan Amount (20% dn)
$566,108
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Elm Grove, WI?
The median home value in Elm Grove is $707,635 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.2% year-over-year.
How much have home prices changed in Elm Grove?
Over the past year, home values in Elm Grove have increased by 6.2%. Over five years, prices have risen approximately 33.8%.
How much do I need to earn to buy a home in Elm Grove?
To comfortably afford the median home price of $707,635 with a 20% down payment ($141,527) at today's rates (6.8%), you'd need a gross annual income of approximately $187,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Elm Grove compare to the national average home price?
The national median home value is approximately $410,000. At $707,635, homes in Elm Grove are 73% above the national average.
What metro area is Elm Grove part of?
Elm Grove is part of the Milwaukee-Waukesha, WI metropolitan area. Home prices and market conditions can vary across the broader metro region.