Market Overview
Home Prices in Oconomowoc, WI
The median home value in Oconomowoc, WI is $556,282 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6% compared to a year ago and up 4.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Oconomowoc are priced36% above average. Oconomowoc is part of the Milwaukee-Waukesha, WI metro area.
Over the past five years, Oconomowoc home values have risen by approximately33.8%, reflecting strong long-term appreciation in this market.
Price History
Oconomowoc Home Price Trend
City Comparison
Oconomowoc vs. National Median
At $556,282, homes in Oconomowoc cost 36% above the national median of $410,000. Buyers in Oconomowoc should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Oconomowoc?
20% Down Payment
$111,256
on $556,282
Monthly P&I
$2,901/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,684/mo
incl. taxes & insurance
Income Needed
$147,360
gross annual (30% rule)
10% Down Option
$55,628
+ PMI applies
Loan Amount (20% dn)
$445,026
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, WI?
The median home value in Oconomowoc is $556,282 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6% year-over-year.
How much have home prices changed in Oconomowoc?
Over the past year, home values in Oconomowoc have increased by 6%. Over five years, prices have risen approximately 33.8%.
How much do I need to earn to buy a home in Oconomowoc?
To comfortably afford the median home price of $556,282 with a 20% down payment ($111,256) at today's rates (6.8%), you'd need a gross annual income of approximately $147,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Oconomowoc compare to the national average home price?
The national median home value is approximately $410,000. At $556,282, homes in Oconomowoc are 36% above the national average.
What metro area is Oconomowoc part of?
Oconomowoc is part of the Milwaukee-Waukesha, WI metropolitan area. Home prices and market conditions can vary across the broader metro region.