Market Overview
Home Prices in Oconomowoc Lake, WI
The median home value in Oconomowoc Lake, WI is $2,053,393 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 12.6% compared to a year ago and down 3.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Oconomowoc Lake are priced401% above average. Oconomowoc Lake is part of the Milwaukee-Waukesha, WI metro area.
Over the past five years, Oconomowoc Lake home values have risen by approximately38.8%, reflecting strong long-term appreciation in this market.
Price History
Oconomowoc Lake Home Price Trend
City Comparison
Oconomowoc Lake vs. National Median
At $2,053,393, homes in Oconomowoc Lake cost 401% above the national median of $410,000. Buyers in Oconomowoc Lake should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Oconomowoc Lake?
20% Down Payment
$410,679
on $2,053,393
Monthly P&I
$10,709/mo
30-yr @ 6.8%
Total Monthly Est.
~$13,600/mo
incl. taxes & insurance
Income Needed
$544,000
gross annual (30% rule)
10% Down Option
$205,339
+ PMI applies
Loan Amount (20% dn)
$1,642,714
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 Oconomowoc Lake, WI?
The median home value in Oconomowoc Lake is $2,053,393 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 12.6% year-over-year.
How much have home prices changed in Oconomowoc Lake?
Over the past year, home values in Oconomowoc Lake have increased by 12.6%. Over five years, prices have risen approximately 38.8%.
How much do I need to earn to buy a home in Oconomowoc Lake?
To comfortably afford the median home price of $2,053,393 with a 20% down payment ($410,679) at today's rates (6.8%), you'd need a gross annual income of approximately $544,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Oconomowoc Lake compare to the national average home price?
The national median home value is approximately $410,000. At $2,053,393, homes in Oconomowoc Lake are 401% above the national average.
What metro area is Oconomowoc Lake part of?
Oconomowoc Lake is part of the Milwaukee-Waukesha, WI metropolitan area. Home prices and market conditions can vary across the broader metro region.