Market Overview
Home Prices in Milwaukee, WI
The median home value in Milwaukee, WI is $231,388 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.4% compared to a year ago and up 5.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Milwaukee are priced44% below average. Milwaukee is part of the Milwaukee-Waukesha, WI metro area.
Over the past five years, Milwaukee home values have risen by approximately36.6%, reflecting strong long-term appreciation in this market.
Price History
Milwaukee Home Price Trend
City Comparison
Milwaukee vs. National Median
At $231,388, homes in Milwaukee cost 44% below the national median of $410,000. This makes Milwaukee a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Milwaukee?
20% Down Payment
$46,278
on $231,388
Monthly P&I
$1,207/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,533/mo
incl. taxes & insurance
Income Needed
$61,320
gross annual (30% rule)
10% Down Option
$23,139
+ PMI applies
Loan Amount (20% dn)
$185,110
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 Milwaukee, WI?
The median home value in Milwaukee is $231,388 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.4% year-over-year.
How much have home prices changed in Milwaukee?
Over the past year, home values in Milwaukee have increased by 3.4%. Over five years, prices have risen approximately 36.6%.
How much do I need to earn to buy a home in Milwaukee?
To comfortably afford the median home price of $231,388 with a 20% down payment ($46,278) at today's rates (6.8%), you'd need a gross annual income of approximately $61,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Milwaukee compare to the national average home price?
The national median home value is approximately $410,000. At $231,388, homes in Milwaukee are 44% below the national average.
What metro area is Milwaukee part of?
Milwaukee is part of the Milwaukee-Waukesha, WI metropolitan area. Home prices and market conditions can vary across the broader metro region.